By Freddy Sebastian

Life-sciences company Seer's minority shareholders again sweetened their offer to take the company private, in their third such proposal in about a month.

Bradley Radoff and Michael Torok, who together own about 7.8% of the company, said it raised its bid to $2.40 a share in cash plus a contingent value right.

In a letter to the company Thursday, Radoff and Torok said the company's latest quarterly results were below expectations and called the company's 2026 guidance dismal.

On April 27, Seer's board rejected the shareholders' upgraded offer of $2.35 a share, saying it undervalued the business.

Earlier in April, Radoff and Torok offered $2.25 a share.

Radoff and Torok on Thursday said Seer's board and its advisors didn't engage with them prior to rejecting their second offer.

The Seer board, in its response to last month's second bid, said its board is confident that the company's strategy, platform and team can create value in excess of the proposal from the Radoff-JEC Group.

On Wednesday, Seer reported first-quarter revenue of $2.79 million, down from $4.21 million a year earlier. Its loss narrowed to 30 cents a share from 34 cents in the previous year's quarter.

Seer shares were up 3.4% to $1.83 in premarket trading.

Write to Freddy Sebastian at freddy.sebastian@wsj.com

(END) Dow Jones Newswires

May 14, 2026 09:01 ET (13:01 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.