Septerna, Inc. SEPN
We are a clinical-stage biotechnology company pioneering a new era of G protein-coupled receptor ("GPCR") oral small molecule drug discovery powered by our proprietary Native Complex Platform®. Our industrial-scale platform aims to unlock the full potential of GPCR therapies and has led to the discovery and development of our deep pipeline of product candidates focused initially on treating patients in three therapeutic areas: endocrinology, immunology and inflammation, and metabolic diseases.
GPCRs are the largest and most diverse family of cell membrane receptors and regulate physiological processes in nearly every organ system of the human body. Due to their significant role in human diseases, GPCRs have been the most productive target class in drug discovery history, accounting for approximately one-third of all FDA-approved drugs, representing approximately 500 products with combined global revenue of approximately $125 billion in 2023. Despite the pharmacological and commercial success of GPCR-targeted agents, about 75% of potential GPCR therapeutic targets remain undrugged. For certain validated GPCRs, novel binding pockets may exist that could offer enhanced therapeutic benefits. Each step in GPCR activation involves subtle conformational changes that have been historically challenging to reproduce outside of a cell. The inability to isolate GPCR proteins in their native functional form outside of a cellular context has prevented scientists from leveraging some of the state-of-the-art technologies that have revolutionized drug discovery in other major target classes over the past decade. This complex challenge has limited GPCR drug discovery, particularly the development of novel oral small molecules, such as agonists for peptide GPCRs and allosteric modulators.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $46.0M | $1.1M | $151.0K | — |
| R&D | $97.6M | $65.3M | $36.0M | — |
| SG&A | $29.2M | $16.6M | $9.7M | — |
| Total operating expenses | $114.2M | $81.9M | -$1.9M | — |
| Operating income | -$68.3M | -$80.8M | $2.1M | — |
| Pre-tax income | -$48.9M | -$72.3M | -$48.9M | — |
| Income tax | $12.0K | $498.0K | $691.0K | — |
| Net income | -$48.9M | -$71.8M | $4.2M | — |
| EPS, basic | -1.10 | -7.26 | 0.29 | — |
| EPS, diluted | -1.10 | -7.26 | 0.29 | — |
| Shares, diluted (wtd. avg.) | 44.3M | 9.9M | 2.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $120.7M | $238.2M | $88.5M | — |
| Short-term investments | $270.4M | $112.7M | $0 | — |
| Receivables | $10.4M | $171.0K | $151.0K | — |
| Total current assets | $411.0M | $356.8M | $112.7M | — |
| Property, plant and equipment | $4.4M | $5.1M | $4.7M | — |
| Total assets | $596.2M | $456.6M | $130.9M | — |
| Accounts payable | $10.3M | $3.2M | $2.6M | — |
| Total current liabilities | $86.9M | $12.8M | $6.9M | — |
| Total liabilities | $214.3M | $36.5M | $20.0M | — |
| Retained earnings | -$167.3M | -$118.4M | -$46.6M | — |
| Total equity | $381.9M | $420.0M | -$38.4M | -$44.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $110.2M | -$67.5M | -$38.7M | — |
| Depreciation and amortisation | $1.6M | $1.4M | $800.0K | — |
| Stock-based compensation | $8.5M | $3.2M | $1.6M | — |
| Capital expenditure | $518.0K | $2.1M | $2.9M | — |
| Investing cash flow | -$229.4M | -$160.6M | $22.1M | — |
| Financing cash flow | $1.7M | $377.8M | $74.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-098507.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | $151.0K | $1.1M | $46.0M |
| Gross profit | — | — | — | — |
| Net income | — | $4.2M | -$71.8M | -$48.9M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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