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Septerna
Septerna (SEPN) investor relations material
Septerna Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary9 Mar, 2026
Executive summary
Achieved positive Phase 1 results for SEP-631, supporting advancement to Phase 2b in chronic spontaneous urticaria in H2 2026.
SEP-479 completed IND-enabling studies, with Phase 1 initiation planned for H1 2026.
Expanded pipeline with ongoing discovery-stage programs and progress in TSHR NAM for Graves' disease.
Appointed new chief legal officer in January 2026.
Financial highlights
Cash, cash equivalents, and marketable securities totaled $548.7M as of Dec 31, 2025, up from $420.8M a year prior.
Revenue was $24.1M for Q4 2025 and $46.0M for FY 2025, compared to $0.2M and $1.1M in the prior year.
R&D expenses were $31.9M for Q4 2025 and $97.6M for FY 2025, up from $19.3M and $65.3M year-over-year.
Net loss was $10.7M for Q4 2025 and $48.9M for FY 2025, improved from $20.7M and $71.8M in the prior year.
Received $195M upfront from Novo Nordisk and $12.5M milestone from Vertex in 2025.
Outlook and guidance
Cash runway expected to fund operations at least into 2029.
Phase 2b trial for SEP-631 in CSU planned for H2 2026, pending long-term toxicology results.
SEP-479 Phase 1 trial initiation targeted for H1 2026.
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Latest events from Septerna
- Rapidly advancing oral GPCR therapies with strong pipeline and Novo Nordisk partnership.SEPN
Corporate presentation16 Mar 2026 - SEP-631 advances to phase II in CSU after robust phase I results; SEP-479 enters clinical trials.SEPNTD Cowen 46th Annual Health Care Conference3 Mar 2026
- SEP-631 showed strong Phase 1 safety and efficacy, advancing to Phase 2 urticaria trials in 2026.SEPNStudy result2 Mar 2026
- Lead GPCR programs advance toward clinical milestones, supported by strong platform and partnerships.SEPN44th Annual J.P. Morgan Healthcare Conference14 Jan 2026
- Advancing oral GPCR-targeted therapies with strong clinical pipeline and Novo Nordisk partnership.SEPNCorporate presentation13 Jan 2026
- GPCR platform drives rapid pipeline growth, with SEP786 and SEP631 clinical data expected in 2025.SEPN43rd Annual J.P. Morgan Healthcare Conference 202510 Jan 2026
- SEP-479, a next-gen oral PTH1R agonist, advances with improved efficacy and safety profile.SEPNCantor Global Healthcare Conference 20255 Jan 2026
- Advancing GPCR-targeted therapies, with SEP-479 and SEP-631 nearing major clinical milestones.SEPNEvercore ISI 8th Annual HealthCONx Conference3 Dec 2025
- Shareholders will vote on director elections and auditor ratification, with emphasis on governance and transparency.SEPNProxy Filing2 Dec 2025
Next Septerna earnings date
Q1 202611 May, 2026
Septerna
Next Septerna earnings date
Q1 202611 May, 2026
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