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SEPN

Septerna, Inc.

SEPN

Septerna, Inc. • NASDAQ
$29.02 ▼ -1.86% (-0.55)
Market Cap $1.30 B
52w High $29.73
52w Low $4.17
Dividend Yield 0%
P/E -4.21
Volume 295.18K
Outstanding Shares 44.77M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $21.495M ▲ $18.881M ▼ $8.173M ▲ 38.023% ▲ $0.18 ▲ $-9.485M ▲
Q2-2025 $119K ▼ $29.097M ▲ $-24.838M ▼ -20.872K% ▼ $-0.56 ▼ $-28.573M ▼
Q1-2025 $219K ▲ $26.129M ▲ $-21.476M ▼ -9.806K% ▼ $-0.49 ▲ $-25.513M ▼
Q4-2024 $212K ▲ $24.93M ▲ $-20.668M ▼ -9.749K% ▲ $-0.64 ▼ $-24.33M ▼
Q3-2024 $176K $22.726M $-20.523M -11.661K% $-0.49 $-22.186M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $474.346M ▲ $606.653M ▲ $217.922M ▲ $388.731M ▲
Q2-2025 $326.561M ▼ $415.231M ▼ $37.674M ▲ $377.557M ▼
Q1-2025 $336.005M ▼ $434.02M ▼ $33.754M ▼ $400.266M ▼
Q4-2024 $350.923M ▲ $456.554M ▲ $36.507M ▼ $420.047M ▲
Q3-2024 $130.533M $174.281M $261.689M $-87.408M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $8.173M ▲ $168.807M ▲ $-38.392M ▼ $263K ▼ $130.678M ▲ $168.794M ▲
Q2-2025 $-24.838M ▼ $-20.287M ▲ $-786K ▲ $339K ▲ $-20.734M ▲ $-20.345M ▲
Q1-2025 $-21.476M ▼ $-23.343M ▼ $-4.874M ▲ $66K ▼ $-28.151M ▼ $-23.725M ▼
Q4-2024 $-20.668M ▼ $-20.958M ▼ $-133.239M ▼ $304.151M ▲ $149.954M ▲ $-21.57M ▼
Q3-2024 $-20.523M $-16.814M $-24.794M $-1.322M $-42.93M $-17.392M

Five-Year Company Overview

Income Statement

Income Statement Septerna is still in the classic early‑stage biotech phase with essentially no product revenue yet, so the income statement is dominated by research and development and other operating expenses. Losses have been increasing as the company ramps up its platform and pipeline, which is typical for a young drug developer but means the business is still firmly in the investment and build‑out stage. The earnings per share pattern is a bit noisy, likely reflecting one‑time or SPAC‑related accounting items rather than any change in the underlying business, which remains pre‑commercial and research‑driven.

Balance Sheet

Balance Sheet The balance sheet is heavily weighted toward cash and other financial assets, with very little debt, which gives Septerna flexibility and reduces financial strain for now. Equity has moved from negative to clearly positive, suggesting recapitalization and fresh funding around the SPAC transaction and private rounds. This provides a buffer to support clinical and discovery work, but as with most development‑stage biotechs, that cushion will be drawn down over time unless offset by new capital or partnership inflows.

Cash Flow

Cash Flow Cash flows show a steady outflow from operating activities as the company spends on research, clinical trials, and staff, with essentially no offsetting inflows from product sales yet. Capital spending on physical assets is very light, so nearly all cash usage is tied directly to R&D and operations rather than buildings or equipment. Free cash flow is negative, which is normal for a company at this stage, and makes the length of the cash runway, plus potential milestone or partnership payments, a key factor to watch.

Competitive Edge

Competitive Edge Septerna is aiming at a very important but technically difficult drug target class, GPCRs, where many big drugs already exist but large areas remain unexplored. Its Native Complex platform is designed to solve a long‑standing scientific problem in this field, potentially giving it an edge in finding new drug candidates that others cannot easily replicate. The company is still small and early in the clinic, so it competes against much larger pharma and biotech players, but the major partnership with Novo Nordisk suggests its technology is taken seriously by established industry leaders. The main competitive risk is that other platforms or traditional approaches could also succeed in similar disease areas, while Septerna must still prove its candidates work safely and effectively in humans.

Innovation and R&D

Innovation and R&D Innovation is the core of Septerna’s story: the Native Complex platform is built to stabilize GPCRs in a more natural state, opening them up to modern discovery tools and new binding sites that were hard to reach before. The pipeline spans several high‑value areas—endocrine disorders, inflammatory diseases, and metabolic conditions—with two lead programs already in early human trials and others behind them. This breadth reflects a platform approach rather than a single‑asset bet, which can diversify scientific upside, but it also requires disciplined prioritization and sustained funding. As with all biotech R&D, the biggest uncertainties are clinical success rates, safety findings, and the time it takes to move from promising biology to credible late‑stage data.

Summary

Overall, Septerna is a pre‑revenue, R&D‑focused biotech with a specialized platform targeting GPCRs, backed by a strong scientific team and a notable partnership with a major pharma company. Financially, it has moved into a better capitalized position with meaningful cash, low debt, and predictable but significant cash burn tied to research and clinical development. The opportunity lies in turning its GPCR platform and pipeline into successful clinical results and further partnering or licensing deals, while the main risks center on clinical setbacks, regulatory hurdles, delays, and the need for future funding. Outcomes over the next few years will likely hinge on early trial readouts for its lead programs and evidence that the Native Complex platform can repeatedly generate differentiated, clinically meaningful drugs.

NEWS

November 25, 2025 · 8:00 AM UTC

Septerna to Participate in 8th Annual Evercore Healthcare Conference

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November 10, 2025 · 7:00 AM UTC

Septerna Highlights Company Progress and Reports Third Quarter 2025 Financial Results

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November 3, 2025 · 8:00 AM UTC

Septerna to Participate in Upcoming Investor Conferences

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September 29, 2025 · 4:01 PM UTC

Septerna Appoints Veteran Biotechnology Leader Keith Gottesdiener, M.D., to its Board of Directors

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