SEER News & Events

Bradley L. Radoff and Michael Torok, together with certain of their affiliates, the "Radoff-JEC Group," who collectively own approximately 7.7% of the outstanding shares of Seer, issued the following statement: "When Seer filed its proxy statement, the Board issued a 4,000-word letter to stockholders that we believe was a collection of inaccurate and misleading statements. In fact, the letter ended with the claim that Seer has the right Board and the right strategy. Seer's share price is down 97% since its IPO in December of 2020. If Seer had the right Board and the right strategy, would the share price be down 97% over the past five and a half years? We believe change at Seer is urgently needed. The 97% share price decline supports that conclusion. And the fact that Seer Chair and CEO Omid Farokhzad, M.D. has consistently destroyed stockholder value across numerous companies adds to our view that change is urgently needed."

Seer announced that it has filed a complaint at the United States International Trade Commission, or ITC, against Nanomics Biotechnology. The Brigham and Women's Hospital has joined the ITC complaint as well. The ITC complaint builds on the patent infringement suit filed in federal district court on May 12, 2026, and is based on Nanomics' infringement of U.S. Patent Nos. 11,435,360, 11,630,112, 12,050,222, 12,228,566, and 12,590,948, which protect Seer's intellectual property in the field of nanoparticle protein enrichment. Seer's ITC complaint seeks institution of an investigation into Nanomics' importation and sale of its Proteonano kits and workstations, and an exclusion order barring those products from entering the United States.

Seer's Board of Directors has thoroughly reviewed and unanimously rejected the further revised unsolicited non-binding proposal received on May 14 from Bradley L. Radoff and Michael Torok, or Radoff-JEC Group, to acquire all of the outstanding shares of Seer's Class A common stock for $2.40 per share in cash plus a contingent value right. The Board determined it is not in the best interests of Seer stockholders because it significantly undervalues Seer and fails to reflect the value of Seer's long-term growth prospects. The May 14 revised proposal continues to imply an equity value for Seer that is meaningfully below the sum of Seer's current cash, cash equivalents and investments.

Bradley Radoff and Michael Torok, who collectively own approximately 7.8% of the outstanding shares of Seer, submitted the following improved non-binding proposal to acquire the Company - their third such proposal - for $2.40 per share in cash plus a contingent value right. In a letter to Seer shareholders, Radoff and Torok wrote, "As you are aware, Bradley L. Radoff and Michael Torok are significant stockholders of Seer, collectively owning approximately 7.8% of the Company's outstanding shares.Yesterday, Seer reported its first quarter 2026 financial results... Chair and CEO Omid Farokhzad, M.D. managed to deliver results that were below those low expectations as the Company burned $15.7 million in the quarter while achieving revenue of a meager $2.8 million... On April 27, 2026, the Board rejected our revised proposal to acquire the Company. Importantly, neither the Board nor its advisors engaged with us prior to rejecting our offer. We believe the Board's failure to engage with us explains why the Board's analysis of our proposal was flawed and why the Board's conclusion and statements regarding our proposal were, in our opinion, incorrect and misleading to stockholders. To us, this serves as yet another example of the conflicted, failing Board acting solely in the interest of Dr. Farokhzad. We are pleased to submit this further improved, non-binding proposal to acquire 100% of the equity of the Company for $2.40 per share in cash, which represents an immediate 42% premium to the Company's unaffected share price, plus a contingent value right representing the right for stockholders to receive 80% of the net proceeds received from any license, sale or other disposition of Seer's business and assets, including PrognomiQ... We urge the Board to fulfill its fiduciary obligations by engaging seriously with us regarding our proposal and by providing stockholders with a transparent evaluation process... Whether the Board engages with us or not, we will give stockholders the opportunity to hold the incumbent Board accountable at the upcoming Annual Meeting for years of value destruction and poor operating results. Stockholders will be able to elect three new, independent and qualified directors - Howard H. Berman, Joshua S. Horowitz and Luis E. Rinaldini."