Radoff-JEC Group Issues Open Letter Condemning Seer’s Unexplained and Seemingly Illogical Decision to Remain a Public Company
Business Wire•02/11/2026•08:00 ET
0
Key Highlights
- ➤Radoff-JEC Group and Omid Farokhzad’s acquisition proposals to take Seer private were rejected.
- ➤Farokhzad’s July 1 proposal offered $2.45 per share in cash plus two contingent value rights.
- ➤Seer shares declined approximately 13% after the Special Committee announced its decision.
- ➤Seer has burned $310.8 million since its IPO while generating virtually no revenue growth since 2022.
- ➤Seer’s strategic plan does not project profitability until 2031, according to the open letter.
Expert Statements
Omid Farokhzad, Founder, Chairman and CEO of Seer
“I stand by all of the observations set forth in my letter dated July 1, 2026 regarding why I believe Seer’s mission is best executed as a private company…”
Bradley L. Radoff and Michael Torok, Seer stockholders and Radoff-JEC Group members
“We believe this is a deeply disappointing outcome for stockholders, the true owners of Seer, and we demand that the Board provide information explaining its illogical conclusion.”
Radoff-JEC Group Issues Open Letter Condemning Seer’s Unexplained and Seemingly Illogical Decision to Remain a Public Company
Founder, Chairman and CEO Omid Farokhzad, M.D. Twice Proposed Taking Seer Private and Has Repeatedly Said Seer Should Not Be a Public Company
Get started
Create a free account to read the full story.