Septerna, Inc.
Business
Septerna is a clinical-stage biotechnology company developing oral small molecule GPCR-targeted drug candidates powered by its proprietary Native Complex Platform. The company is advancing programs in three therapeutic areas: endocrinology (PTH1R agonists for hypoparathyroidism), immunology and inflammation (MRGPRX2 negative allosteric modulators for chronic spontaneous urticaria), and metabolic diseases through a collaboration with Novo Nordisk. Septerna operates globally, conducting preclinical research and clinical trials.
Summary from 10-K filed 2026-03-09
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Revenue | 46 | 1 | 151,000 | |
| Research and development | 98 | 65 | 36 | |
| General and administrative | 29 | 17 | 10 | |
| Gain on sale of non-financial asset | −13 | 0 | −48 | |
| Total operating expenses | 114 | 82 | −2 | |
| Loss from operations | −68 | −81 | 2 | |
| Interest income | 20 | 9 | 3 | |
| Other expense, net | −100,000 | −90,000 | 10,000 | |
| Total other income, net | 19 | 9 | 3 | |
| Loss before provision (benefit) for income taxes | −49 | −72 | −49 | |
| Provision (benefit) for income taxes | 12,000 | −500,000 | 700,000 | |
| Net loss | −49 | −72 | 4 | |
| Net loss per share, basic | −1.1 | −7.26 | 0.29 | |
| Net loss per share, diluted | −1.1 | −7.26 | 0.29 | |
| Weighted-average shares outstanding, basic | 44 | 10 | 2 | |
| Weighted-average shares outstanding, diluted | 44 | 10 | 2 | |
| Net unrealized gain on marketable securities | 561,000 | 56,000 | 0 | |
| Total other comprehensive income | 561,000 | 56,000 | 0 | |
| Comprehensive loss | −48 | −72 | 4 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 121 | 238 | 88 | — | |
| Marketable securities | 270 | 113 | 0 | — | |
| Accounts receivable | 10 | 171,000 | 151,000 | — | |
| Prepaid expenses and other current assets | 10 | 6 | 1 | — | |
| Total current assets | 411 | 357 | 113 | — | |
| Marketable securities, non-current | 158 | 70 | 0 | — | |
| Property and equipment, net | 4 | 5 | 5 | — | |
| Operating lease right-of-use assets | 21 | 24 | 13 | — | |
| Restricted cash | 905,000 | 905,000 | 905,000 | — | |
| Other non-current assets | 816,000 | 267,000 | 97,000 | — | |
| Total assets | 596 | 457 | 131 | — | |
| Accounts payable | 10 | 3 | 3 | — | |
| Accrued expenses and other current liabilities | 12 | 8 | 4 | — | |
| Deferred revenue, current | 62 | 0 | — | — | |
| Operating lease liabilities, current | 2 | 2 | 0 | — | |
| Total current liabilities | 87 | 13 | 7 | — | |
| Deferred revenue, non-current | 106 | 0 | — | — | |
| Operating lease liabilities, non-current | 21 | 24 | 13 | — | |
| Other non-current liabilities | 0 | 33,000 | 546,000 | — | |
| Total liabilities | 214 | 37 | 20 | — | |
| Commitments and contingencies (Note 7) | — | — | — | — | |
| Preferred stock, $0.001 par value; 10,000,000 shares authorized as of December 31, 2025 and December 31, 2024; no shares issued and outstanding as of December 31, 2025 and December 31, 2024 | — | — | — | — | |
| Common stock, $0.001 par value per share, 500,000,000 shares authorized at December 31, 2025 and December 31, 2024; 44,806,272 and 44,422,505 shares issued and outstanding at December 31, 2025 and December 31, 2024 respectively; 131,224 and 576,829 shares subject to repurchase as of December 31, 2025 and December 31, 2024, respectively | 45,000 | 44,000 | 3,000 | — | |
| Additional paid-in capital | 549 | 538 | 8 | — | |
| Accumulated other comprehensive income | 617,000 | 56,000 | 0 | — | |
| Accumulated deficit | −167 | −118 | −47 | — | |
| Total stockholders' equity | 382 | 420 | −38 | −44 | |
| Total liabilities and stockholders' equity | 596 | 457 | 131 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Net (loss) income | −49 | −72 | 4 | |
| Depreciation and amortization | 2 | 1 | 848,000 | |
| Gain on sale of non-financial asset | −13 | 0 | −48 | |
| Non-cash operating lease expense | 2 | 1 | 807,000 | |
| Stock-based compensation | 8 | 3 | 2 | |
| Accretion of discounts, net | −3 | −1 | 0 | |
| Deferred income tax | 0 | −491,000 | 491,000 | |
| Other | 56,000 | 45,000 | 30,000 | |
| Prepaid expenses and other current assets | −4 | −4 | −136,000 | |
| Accounts receivable | −10 | −20,000 | −151,000 | |
| Other non-current assets | −554,000 | −170,000 | 165,000 | |
| Accounts payable | 7 | 723,000 | −653,000 | |
| Accrued expenses and other current liabilities | 4 | 4 | 2 | |
| Increase (Decrease) in Contract with Customer, Liability | 168 | 0 | — | |
| Operating leases, net | −2 | 448,000 | −770,000 | |
| Net cash used in operating activities | 110 | −67 | −39 | |
| Purchases of property and equipment | −518,000 | −2 | −3 | |
| Proceeds from sale of non-financial asset | 13 | 23 | 25 | |
| Purchases of available-for-sale marketable securities | −451 | −213 | — | |
| Maturities of available-for-sale marketable securities | 210 | 32 | — | |
| Net cash used in investing activities | −229 | −161 | 22 | |
| Proceeds from Initial Public Offering, net of offering costs | 0 | 303 | 0 | |
| Proceeds from issuance of Series B Convertible Preferred stock, net of issuance costs | 0 | 75 | 75 | |
| Repurchases of unvested restricted common stock | −1,000 | −1,000 | −1,000 | |
| Proceeds from exercise of stock options | 973,000 | 52,000 | 0 | |
| Proceeds from employee stock purchase plan | 717,000 | 0 | — | |
| Net cash provided by financing activities | 2 | 378 | 75 | |
| Net increase in cash, cash equivalents and restricted cash | −117 | 150 | 58 | |
| Cash paid for income taxes | 0 | 232,000 | 75,000 | |
| Right-of-use asset recognized in exchange for operating lease liability | 0 | 12 | 13 | |
| Conversion of convertible preferred stock to common stock upon initial public offering | 0 | 224 | 0 | |
| Unpaid offering costs included in accounts payable | 0 | 21,000 | 0 | |
| Property and equipment included in accounts payable and accrued expenses and other current liabilities | 517,000 | 37,000 | 262,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Septerna, Inc.'s CIK number?
Septerna, Inc.'s SEC CIK number is 0001984086 (1984086). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Septerna, Inc.'s SEC filings?
All of Septerna, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Septerna, Inc. last report earnings?
Septerna, Inc. (SEPN) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-216723). This is Septerna, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Septerna, Inc.'s most recent earnings 8-K?
Septerna, Inc.'s latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001193125-26-216723. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Septerna, Inc.'s latest earnings 8-K →
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