Seaport Therapeutics (SPTX) Goldman Sachs 47th Annual Global Healthcare Conference 2026 summary

Company overview and platform strategy

• Focuses on neuropsychiatry with a clinically validated platform and three robust programs, leveraging the Glyph lymphatic-targeting prodrug technology to address limitations like poor oral bioavailability and liver-related adverse events.

• Leadership team has a strong track record in developing medicines and successful business outcomes, recently raising over $260 million in an IPO to fund upcoming milestones.

• Targets depression and anxiety, which affect over 300 million people each globally, aiming to address unmet needs due to current therapies' slow onset, modest efficacy, and side effects.

• Applies the Glyph platform to drugs with validated efficacy but development-limiting issues, creating new intellectual property with each application.

Pipeline progress and clinical milestones

• Lead program, GlyphAllo, is in phase II-B and could be registration-enabling, with phase I driving study data expected in the second half of 2026 and BUOY-1 readout in the first half of 2027.

• Second program, GlyphAgo, recently shared phase I proof-of-concept data, with phase II-A readout in early 2028 and phase II-B readout at the end of 2028.

• Third program is in preclinical development, all leveraging the Glyph platform to overcome prior limitations.

• IPO proceeds and existing cash provide runway into 2029, covering all major planned clinical milestones.

Glyph platform differentiation and validation

• Glyph technology cloaks small molecules to mimic dietary fats, enabling lymphatic absorption and bypassing the liver, which improves oral bioavailability and reduces liver toxicity.

• Demonstrated increased bioavailability and reduced liver-related adverse events in phase I studies for both GlyphAllo and GlyphAgo.

• GlyphAgo showed up to 14.5x greater bioavailability than agomelatine, with no liver-related adverse events and no drug-drug interaction with oral contraceptives.

• Platform generates new composition of matter IP with each molecule, supporting long-term value.