Seres Therapeutics Inc. (NASDAQ: MCRB) announced two transactions designed to strengthen its balance sheet and extend its operating cash runway into the first quarter of 2027, according to a company press release.

The biotechnology company amended its asset purchase agreement with Nestlé Health Science, which will pay Seres $25 million in two equal installments in July and October 2026. The payment represents a buyout of potential future milestone payments tied to net sales of VOWST, a microbiome-based therapeutic that Seres sold to Nestlé Health Science in 2024.

Seres also restructured its lease agreement for its facility at 101 CambridgePark Drive in Cambridge, Massachusetts. The amended lease reduces the company's leased space and annual facility costs over a 10-year term beginning May 1, 2026. Under the arrangement, Seres will pay a termination fee and establish a new letter of credit while the landlord draws the existing letter of credit.

As of March 31, 2026, Seres reported $29.8 million in cash and cash equivalents. The company expects the transactions will fund operations well into the first quarter of 2027, excluding potential proceeds from future partnerships or other capital sources.

"We have taken meaningful actions to strengthen our balance sheet and extend our cash runway well into the first quarter of 2027," said Richard Kender, executive chair and interim chief executive officer.

Seres is developing live biotherapeutics focused on inflammatory and immune diseases. The company expects clinical data from an investigator-sponsored study of SER-155 in immune checkpoint inhibitor-related enterocolitis later this month.

VOWST was the first orally administered microbiome-based therapeutic approved by the U.S. Food and Drug Administration for preventing recurrence of Clostridioides difficile infection in adults.