Seer, Inc. is a life sciences firm specializing in developing and commercializing advanced technologies designed to unravel the complexities of the proteome. At the core of its offerings is the Proteograph Product Suite, an integrated platform comprising specialized consumables, automated instrumentation, and sophisticated software. This comprehensive solution empowers researchers to conduct advanced proteomic studies across various applications, including therapeutic and diagnostic investigations, as well as clinical trials. The company markets its products exclusively for research applications, serving academic institutions, diverse life sciences and research laboratories, and biopharmaceutical and biotechnology enterprises. Notably, these offerings are intended for non-diagnostic and non-clinical purposes. Seer has established collaborative agreements with entities such as Discovery Life Sciences, LLC, and the Salk Institute for Biological Studies. Originally incorporated in 2017 as Seer Biosciences, Inc., the company adopted its current name, Seer, Inc., in July 2018. Its headquarters are situated in Redwood City, California.
Radoff-JEC Group Calls on Seer, Inc.’s Board of Directors to Publicly Acknowledge That the Company Needs to Be Taken Private and Disclose Timeline for Evaluating Latest Acquisition Offers
Radoff-JEC Group, owning 7.7% of Seer, demanded the board publicly acknowledge the company should be taken private and evaluate its $2.55/share acquisition offer.
The activist group criticized the Special Committee for "perfunctory" engagement and cited Q2 results showing revenue of $3.1 million and a $16.9 million net loss as evidence of the company's "abysmal" state.
The letter also attacked CEO Omid Farokhzad for optimistic commentary despite declining performance and noted he has sold over $103 million in shares since the IPO.