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Septerna Announces Initiation of Phase 1 Clinical Trial of SEP-479, an Oral Small Molecule PTH1R Agonist for the Treatment of Hypoparathyroidism

(Moderate)
(Neutral)

Septerna (Nasdaq: SEPN) has dosed the first participants in a Phase 1 trial of SEP-479, an oral small-molecule PTH1R agonist for hypoparathyroidism. The randomized, placebo-controlled SAD/MAD study will enroll up to 150 healthy adults and assess safety, tolerability, PK and PD.

Key secondary/exploratory PD endpoints include changes in endogenous PTH, serum calcium and other biomarkers. Septerna expects to report data in late 2026 or early 2027.

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Positive

  • Phase 1 initiation with first participants dosed
  • Trial design: randomized, placebo-controlled SAD/MAD
  • Up to 150 healthy adult participants planned
  • Data readout targeted in late 2026 or early 2027

Negative

  • Currently only a Phase 1 trial—efficacy unproven in patients
  • Study population limited to healthy volunteers, not patients

News Market Reaction – SEPN

+1.08%
1 alert
+1.08% Session close to close
$1.09B Market Cap
0.0x Rel. Volume

In the Apr 13 session, SEPN gained 1.08%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement marks the start of a randomized SAD/MAD Phase 1 trial for SEP‑479 in up to 150 hea...
Analysis

This announcement marks the start of a randomized SAD/MAD Phase 1 trial for SEP‑479 in up to 150 healthy volunteers, extending Septerna’s PTH1R franchise after discontinuing SEP‑786. Historical clinical milestones have produced mixed market reactions, including a major selloff on SEP‑786 and modest gains on SEP‑631 data. Alongside this update, investors may track use of the $150,000,000 ATM program, the substantial $548.7 million cash balance, and upcoming SEP‑631 Phase 2b plans as key context for pipeline and funding risk.

Key Figures

Planned enrollment: Up to 150 participants ATM program size: $150,000,000 Q4 2025 revenue: $24.1 million +5 more
8 metrics
Planned enrollment Up to 150 participants Phase 1 SEP-479 SAD/MAD trial in healthy adults
ATM program size $150,000,000 S-3ASR at-the-market equity program filed March 10, 2026
Q4 2025 revenue $24.1 million Fourth quarter 2025 revenue, sharply higher than 2024
FY 2025 revenue $46.0 million Full year 2025 revenue vs. $1.1 million in 2024
Q4 2025 net loss $10.7 million Fourth quarter 2025 net loss, narrowed vs. 2024
FY 2025 net loss $48.9 million Full year 2025 net loss, improved from $71.8 million in 2024
Cash balance $548.7 million Cash, cash equivalents, and marketable securities as of Dec 31, 2025
Novo upfront payment $195.0 million Upfront from Novo Nordisk collaboration across GPCR targets

Previous Clinical trial Reports

3 past events · Latest: Feb 10 (Positive)
Same Type Pattern 3 events
Date Event Sentiment 24h Move Catalyst
Feb 10 Clinical data update Positive +0.4% Announcement of Phase 1 SEP-631 data presentation at AAAAI meeting.
Aug 21 Phase 1 initiation Positive +5.5% First participants dosed in Phase 1 SEP-631 SAD/MAD trial.
Feb 18 Trial discontinuation Negative -47.0% Discontinuation of SEP-786 Phase 1 and pivot to next-gen PTH1R agonists.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Clinical trial news has produced volatile outcomes, from a -46.99% selloff on a discontinuation to modest gains on positive SEP-631 updates, indicating event-specific rather than uniformly favorable reactions.

Recent Company History

Over the past year, Septerna’s key catalysts have centered on clinical trial progress and portfolio reshaping. In February 2025, discontinuation of SEP-786 with a pivot to next‑generation PTH1R agonists drove a steep -46.99% move. Later clinical milestones for SEP‑631, including first‑in‑human dosing in August 2025 and Phase 1 data presentation plans in February 2026, saw smaller positive reactions. Today’s SEP‑479 Phase 1 initiation extends the company’s PTH1R program evolution following the SEP‑786 discontinuation.

Key Terms

pharmacokinetics, pharmacodynamics, single-ascending dose (SAD), multiple-ascending dose (MAD), +4 more
8 terms
pharmacokinetics medical
"to evaluate the safety, tolerability, pharmacokinetics (PK) and pharmacodynamics (PD)"
Pharmacokinetics is the study of how a substance, such as a drug or chemical, moves through and is processed by the body over time. It tracks how it is absorbed, distributed, broken down, and eventually eliminated. For investors, understanding pharmacokinetics helps gauge the effectiveness, safety, and potential risks of new medications or treatments, which can influence a company’s success and valuation in the healthcare industry.
pharmacodynamics medical
"to evaluate the safety, tolerability, pharmacokinetics (PK) and pharmacodynamics (PD)"
Pharmacodynamics is how a drug actually affects the body — the strength, type and duration of its effects and the relationship between dose and response. Think of it like how turning a thermostat changes room temperature: it shows what the drug does and how much is needed to get the desired effect. Investors care because these properties drive clinical success, dosing convenience, safety profile and competitive advantage, all of which influence commercial potential and regulatory approval.
single-ascending dose (SAD) medical
"The Phase 1 clinical trial is a single-ascending dose (SAD) and multiple-ascending dose (MAD)"
A single-ascending dose (SAD) study is an early-stage clinical trial in which small groups of participants each receive one dose of an experimental drug, with the dose increased stepwise between groups to assess initial safety, tolerability and how the body handles the drug. Investors watch SAD results because they reveal early safety and dosing limits—like checking a vehicle on short test drives at increasing speeds—which help gauge clinical risk, development timelines and the likelihood the program will advance.
multiple-ascending dose (MAD) medical
"a single-ascending dose (SAD) and multiple-ascending dose (MAD) clinical trial"
A multiple-ascending dose (MAD) study is a clinical trial stage where a drug is given to different groups of people in repeated doses that increase stepwise, like climbing a staircase of strength levels. It checks safety, side effects and how the body handles the drug when taken repeatedly, helping determine safe and effective dosing for later trials. Investors care because MAD results reveal tolerability, risk and dosing viability—key factors that affect a drug’s development timeline and commercial potential.
randomized, placebo-controlled medical
"The randomized, placebo-controlled Phase 1 clinical trial is expected to enroll up to 150"
A randomized, placebo-controlled trial is a medical study where people are assigned by chance (like flipping a coin) to receive either the experimental treatment or an inactive substitute (a placebo), and neither participants nor often the researchers know who got which. For investors, this design is the gold standard for showing whether a therapy truly works beyond chance or expectation, which reduces uncertainty about regulatory approval, market adoption, and the commercial value of a drug or device.
biomarkers medical
"as well as other biomarkers. Septerna anticipates reporting data from the trial"
Biomarkers are measurable indicators found in the body, such as substances in blood or tissues, that reveal information about health or disease. For investors, they can signal how well a medical treatment is working or whether a disease is developing, helping to assess the potential success or risks of healthcare companies or innovations. Think of biomarkers as biological signals that provide clues about a person’s health status.
serum calcium medical
"assessed by changes in endogenous PTH and serum calcium, as well as other biomarkers"
Serum calcium is the amount of calcium circulating in the liquid part of the blood, measured by clinicians to monitor bone strength, nerve and muscle function, and heart rhythm. For investors, shifts in serum calcium matter because they can signal underlying disease, affect drug safety and clinical trial eligibility, and drive demand for lab tests, treatments or medical devices — like a dashboard light that guides medical decisions and company prospects.
endogenous PTH medical
"with the latter assessed by changes in endogenous PTH and serum calcium"
Endogenous PTH is the parathyroid hormone produced naturally by a person’s own parathyroid glands; it helps regulate blood calcium levels much like a thermostat controls room temperature. Investors should care because therapies, diagnostics, or lab tests that alter or measure endogenous PTH can affect drug safety, efficacy, trial endpoints and marketability—changes in these readings can change clinical results, regulatory decisions and commercial value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Trial Designed to Evaluate the Safety, Tolerability, Pharmacokinetics and Pharmacodynamics of SEP-479 in Healthy Volunteers

Data Anticipated in Late 2026 or Early 2027

SOUTH SAN FRANCISCO, Calif., April 13, 2026 (GLOBE NEWSWIRE) -- Septerna, Inc. (Nasdaq: SEPN), a clinical-stage biotechnology company pioneering a new era of G protein-coupled receptor (GPCR) drug discovery, 
today announced the dosing of the first participants in its Phase 1 clinical trial of SEP-479, its potent oral small molecule PTH1R agonist being developed for the treatment of patients with hypoparathyroidism. The Phase 1 clinical trial is a single-ascending dose (SAD) and multiple-ascending dose (MAD) clinical trial to evaluate the safety, tolerability, pharmacokinetics (PK) and pharmacodynamics (PD) of SEP-479 in healthy adult volunteers.

“Hypoparathyroidism is a lifelong condition that patients must manage with either high doses of calcium supplements several times a day or daily parathyroid hormone (PTH) injections, both of which can place a substantial burden on patients over time,” said Jeffrey Finer, M.D., Ph.D., Chief Executive Officer and Co‑founder of Septerna. “We are encouraged by the preclinical data for SEP‑479, which underscore its potential to be a disease modifying therapy for hypoparathyroidism by directly targeting the PTH receptor to provide patients full‑day calcium control and relief from their debilitating symptoms. Based on these findings, we believe SEP‑479 has the potential to be differentiated as a once-daily oral therapy for patients, and we look forward to advancing our Phase 1 trial as rapidly as possible.”

The randomized, placebo-controlled Phase 1 clinical trial is expected to enroll up to 150 healthy adult participants. Dosing is underway in the SAD portion of the clinical trial, which will evaluate the safety and tolerability of SEP-479 at escalating oral doses. The MAD portion of the clinical trial is designed to evaluate the safety and tolerability of once-daily oral dosing of SEP-479 over multiple days of treatment, with secondary and exploratory endpoints including PK and PD, with the latter assessed by changes in endogenous PTH and serum calcium, as well as other biomarkers. Septerna anticipates reporting data from the trial in late 2026 or early 2027.

About SEP-479
Septerna is developing SEP-479, a potent oral small molecule parathyroid hormone 1 receptor (PTH1R) agonist, for the treatment of patients with hypoparathyroidism. In preclinical studies, SEP-479 demonstrated activity comparable to PTH peptides in cell-based assays and in vivo models, normalized serum calcium in a rat model of hypoparathyroidism and increased serum calcium with reductions in endogenous PTH in a non-human primate PK/PD study. SEP-479 was generally well tolerated in 28-day GLP toxicology studies in rats, dogs and non-human primates.

About Hypoparathyroidism
Hypoparathyroidism is a debilitating endocrine disease caused by a deficiency of the parathyroid hormone (PTH) that results in a range of symptoms, including muscle cramps, fatigue, cognitive dysfunction, and life-threatening complications, such as cardiac arrhythmias, seizures, and renal failure. Current therapies include high doses of calcium and vitamin D supplements orally several times daily or daily PTH injections. There remains a need for treatment options designed to functionally replace PTH that offer more convenient modes of administration for patients compared to lifelong daily injections.

About Septerna
Septerna, Inc. is a clinical-stage biotechnology company with a world-class team of GPCR experts and drug developers advancing cutting-edge science to unlock the full potential of GPCR therapies for patients with significant unmet needs. The company’s proprietary Native Complex Platform® is designed to enable new approaches to GPCR drug discovery and has led to the development of a diverse pipeline of novel oral small molecule drug candidates. Septerna is advancing programs in endocrinology, immunology and inflammation, metabolic diseases and additional therapeutic areas, both independently and with partners. For more information, please visit www.septerna.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements about Septerna’s beliefs and expectations regarding: the potential of SEP-479 preclinical data to translate into similar clinical safety, pharmacokinetic, and pharmacodynamic findings; the estimated availability of SEP-479 Phase 1 clinical data in late 2026 or early 2027; the potential for SEP-479 to be a differentiated once-daily oral therapy for patients with hypoparathyroidism; the potential of its proprietary Native Complex Platform®; the size and growth potential of the markets for its current and future product candidates; its expectations regarding strategic plans for its business, product candidates, and technology; and the scope of protection it is able to establish and maintain for intellectual property rights covering its Native Complex Platform® and its product candidates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,” “should,” or “would,” or the negative of these terms, or other comparable terminology are intended to identify forward-looking statements, although not all forward looking statements contain these identifying words.

Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation: the risk that SEP-479 preclinical data does not turn out to be predictive of future clinical outcomes for SEP-479; risks related to clinical development outcomes for SEP-479 including unexpected safety, pharmacokinetic, or pharmacodynamic findings; risks related to the actual timing of future availability of clinical data for SEP-479 including that the actual timing of enrollment and completion of the study may differ from management’s current estimates; the scope of protection Septerna is able to establish and maintain for intellectual property rights covering its Native Complex Platform® and its product candidates (including SEP-479); and general economic, industry and market conditions. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Septerna’s Annual Report on Form 10-K for the year ended December 31, 2025, as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Septerna’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Septerna explicitly disclaims any obligation to update any forward-looking statements subject to any obligations under applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Investor Contact:
Renee Leck, THRUST
renee@thrustsc.com

Media Contact:
Carly Scaduto, THRUST
carly@thrustsc.com


FAQ

What is Septerna (SEPN) announcing about SEP-479 on April 13, 2026?

Septerna announced dosing of first participants in a Phase 1 trial of SEP-479. According to the company, the randomized, placebo-controlled SAD/MAD study will evaluate safety, tolerability, PK and PD in healthy adults and enroll up to 150 participants.

What endpoints will the SEPN Phase 1 SEP-479 trial measure and why do they matter?

The trial will measure safety, tolerability, PK and PD, including PTH and serum calcium changes. According to the company, PD biomarkers aim to show target engagement and potential calcium control relevant to hypoparathyroidism therapy development.

How many participants will Septerna enroll in the SEP-479 Phase 1 trial (SEPN)?

The study is expected to enroll up to 150 healthy adult participants. According to the company, enrollment covers single-ascending dose and multiple-ascending dose cohorts to assess escalating oral dosing.

When does Septerna expect to report SEP-479 Phase 1 data for SEPN?

Septerna expects to report data in late 2026 or early 2027. According to the company, initial dosing is underway in the SAD portion, with MAD results to follow based on cohort completion and data review.

What makes SEP-479 potentially different from existing hypoparathyroidism treatments (SEPN)?

SEP-479 is an oral small-molecule PTH1R agonist intended for once-daily dosing. According to the company, preclinical data suggest potential full-day calcium control versus current frequent calcium supplements or injectable PTH.

What is the design of the SEP-479 Phase 1 study for SEPN and who will be dosed?

The Phase 1 trial is randomized and placebo-controlled with SAD and MAD parts to test escalating oral doses. According to the company, dosing started in healthy adult volunteers to evaluate safety, tolerability, PK and PD.