Seaport Therapeutics (SPTX) Citigroup’s Biopharma Back to School Summit 2026 summary

Company overview and platform technology

• Focuses on neuroscience with a clinically validated platform and three programs targeting depression and anxiety.

• Glyph platform enables lymphatic-targeting prodrugs, overcoming poor oral bioavailability and liver-related side effects.

• Leadership team has a track record of successful drug development and business outcomes.

• Recently completed IPO, securing capital for upcoming clinical milestones.

• Glyphing creates new intellectual property with each molecule.

Lead program: GlyphAllo

• GlyphAllo is an oral prodrug of allopregnanolone, previously only available as a 60-hour IV infusion for postpartum depression.

• Phase I and IIa studies showed clinically relevant exposures, pharmacodynamic activity, and no next-day driving impairment.

• Ongoing phase IIb BUOY-1 trial in major depressive disorder (MDD) could be registration-enabling, with top-line data expected in H1 2027.

• GlyphAllo may benefit both general MDD and the anxious distress subgroup, which comprises over 60% of MDD patients.

• Differentiation from competitors includes rapid onset, anxiolytic and sleep-promoting effects, and lack of driving impairment.

Second program: GlyphAgo

• GlyphAgo is a prodrug of agomelatine, approved for GAD and depression outside the US but limited by liver toxicity and lack of IP.

• GlyphAgo phase I data showed a nearly sevenfold increase in oral bioavailability and tenfold reduction in PK variability.

• No serious or severe adverse events or liver issues observed in phase I.

• Two phase II studies planned: a proof-of-pharmacology study focused on sleep and a potentially registration-enabling study in GAD.

• GlyphAgo aims to eliminate the need for intensive liver monitoring and expand US commercial potential.