Septerna
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Septerna (SEPN) investor relations material

Septerna 44th Annual J.P. Morgan Healthcare Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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44th Annual J.P. Morgan Healthcare Conference summary13 Jan, 2026

Platform and portfolio overview

  • Focused on GPCR drug discovery using the Native Complex Platform, enabling rapid identification and optimization of compounds for difficult-to-drug targets.

  • Portfolio includes programs with early clinical readouts, targeting validated biological and clinical needs.

  • Well-capitalized with cash runway into at least 2029, following an IPO and a Novo collaboration.

  • Therapeutic focus spans endocrinology, immunology, inflammation, and metabolic diseases, but remains area-agnostic.

  • Platform enables discovery of novel binding pockets and rapid structure-based design, solving over 150 GPCR structures to date.

Lead programs and clinical progress

  • SEP-479, a PTH receptor agonist for hypoparathyroidism, is entering phase I trials in the first half of 2025, with IND-enabling studies completed and strong preclinical data.

  • SEP-479 demonstrated normalization of serum calcium and phosphate in animal models and favorable PK/PD in monkeys.

  • SEP-631, a negative allosteric modulator of MRGPRX2 for mast cell diseases, is completing phase I, with data to be presented at AAAAI in March.

  • SEP-631 shows potent, insurmountable inhibition of MRGPRX2, with broad potential across dermatological and non-dermatological indications.

  • TSHR program targets Graves' disease and thyroid eye disease with a negative allosteric modulator, showing reversal of disease in animal models and nearing candidate selection.

Market opportunities and strategy

  • Hypoparathyroidism market estimated at 70,000–80,000 US patients, with unmet need for oral therapies due to drawbacks of current injectable and calcium-based treatments.

  • SEP-479 aims to address both naive and switch patients, offering a convenient oral option with broad applicability.

  • SEP-631's mechanism is differentiated by its insurmountable receptor inhibition and slow off-rate, with CSU as the initial indication and plans to explore additional mast cell-driven diseases.

  • TSHR program aspires to provide a universal, disease-modifying therapy for both Graves' and thyroid eye disease, overcoming limitations of current treatments.

  • Novo Nordisk collaboration covers multiple incretin and metabolic targets, with Novo funding all R&D and offering milestone and royalty payments.

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Next Septerna earnings date

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Q4 202527 Mar, 2026
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Frequently asked questions

Septerna Inc. is a biotechnology company focused on the discovery and development of innovative therapies targeting G protein-coupled receptors (GPCRs). The company leverages proprietary technology to design small molecule therapeutics aimed at addressing unmet medical needs across various disease areas. The company is headquartered in South San Francisco, California, and its shares are listed on the NASDAQ.

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