The unsolicited bid included cash and two contingent value rights, which the committee deemed insufficient to justify a sale. Following the rejection, Seer stock slipped 5.1% to $2.06 during premarket trading as investors weighed the board's commitment to independent growth over a buyout.

This marks the second time in recent months that leadership has dismissed acquisition efforts. The board previously turned away a $2.40 per share offer from a group of minority shareholders who had also sought to take the company private. By resisting these overtures, the independent committee is signaling a preference for internal development strategies over the proposed exit prices.