Full Press Release Details
HOUSTON--(BUSINESS WIRE)--Bradley L. Radoff and Michael Torok (together with certain of their affiliates, the “Radoff-JEC Group” or “we”), who collectively own approximately 7.7% of the outstanding shares of Seer, Inc. (NASDAQ: SEER) (“Seer” or the “Company”), today 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 2020.1If 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.”
| Chairman and CEO Farokhzad: A Specialist in Failure | |
| Company | Investor Outcome |
| Seer | Share price declined 97.0% since going public in 2020.2 |
| BIND Therapeutics, Inc. | Filed for Chapter 11 bankruptcy protection. |
| Selecta Biosciences, Inc. | Share price declined 93.7% between its IPO and its merger with Cartesian Therapeutics.3 |
| Tarveda Therapeutics, Inc. | Liquidated under a court-supervised assignment of assets. |
| Senti Biosciences Holdings, Inc. | Share price is down 98.5% since its public listing in 2022.4 |
| More Than $1 Billion in Investor Capital Destroyed |
Chairman and CEO Farokhzad: A Specialist in Failure
Company
Investor Outcome
Seer
Share price declined 97.0% since going public in 2020.2
BIND Therapeutics, Inc.
Filed for Chapter 11 bankruptcy protection.
Selecta Biosciences, Inc.
Share price declined 93.7% between its IPO and its merger with Cartesian Therapeutics.3
Tarveda Therapeutics, Inc.
Liquidated under a court-supervised assignment of assets.
Senti Biosciences Holdings, Inc.
Share price is down 98.5% since its public listing in 2022.4
More Than $1 Billion in Investor Capital Destroyed
The Radoff-JEC Group is seeking stockholder support to elect three new independent, qualified directors – Howard H. Berman, Ph.D., Joshua S. Horowitz and Luis E. Rinaldini – to SEER’s Board at the Annual Meeting of Stockholders on July 28, 2026.
Vote FOR the Radoff-JEC Group’s Nominees TODAY to Prevent Further Value Destruction
Do NOT Vote for Omid Farokhzad, M.D., Terrance McGuire or Dipchand (Deep) Nishar.
Questions about how to vote? Contact (888) 368-0379 orinfo@saratogaproxy.com.
Visitwww.SaratogaProxy.com/SEERto learn more.
| 1Share price decline from December 4, 2020 through April 10, 2026, the trading day immediately prior to the Radoff-JEC Group’s submission of its initial non-binding proposal to acquire the Company. |
| 2Ibid. |
| 3Share price decline from June 22, 2016 through November 13, 2023. |
| 4Share price decline from June 9, 2022 through June 12, 2026. |
1Share price decline from December 4, 2020 through April 10, 2026, the trading day immediately prior to the Radoff-JEC Group’s submission of its initial non-binding proposal to acquire the Company.
2Ibid.
3Share price decline from June 22, 2016 through November 13, 2023.
4Share price decline from June 9, 2022 through June 12, 2026.