Every 10-Q that Septerna, Inc. (SEPN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SEPN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SEPN filings page.
Septerna, Inc. reported its quarterly results as a clinical-stage biotechnology company focused on GPCR-targeted oral small molecules, powered by its proprietary Native Complex Platform®. For the three months ended June 30, 2026, revenue rose to $26.7 million (from $0.1 million a year earlier), driven entirely by its global collaboration and license agreement with Novo Nordisk A/S, including research services and milestone recognition. For the six months ended June 30, 2026, revenue was $53.3 million.
Research and development expenses increased to $35.1 million in the quarter and $64.7 million year-to-date, reflecting advancement of Septerna’s pipeline, including the Phase 1 trial of SEP-479 and continued platform and program expansion. General and administrative expenses were $8.5 million for the quarter and $18.7 million year-to-date. Net loss narrowed to $13.0 million for the quarter (from $24.8 million) and to $21.7 million for the first half of 2026 (from $46.3 million), aided by higher collaboration revenue and interest income.
Septerna ended June 30, 2026 with $516.5 million in cash, cash equivalents and marketable securities and $140.4 million in deferred revenue related to the Novo collaboration. Management expects this liquidity to fund planned operations at least into 2029. The company also raised $13.8 million of additional equity via an at-the-market program during the period and continues to operate with no debt.
Septerna reported strong top-line growth for the three months ended March 31, 2026, with revenue of $26.5 million driven by its Novo Nordisk collaboration, compared with $0.2 million a year earlier. Revenue included recognition of upfront, research and milestone consideration under the agreement.
Research and development expense rose to $29.5 million and general and administrative expense to $10.3 million, reflecting pipeline expansion and public-company costs. Net loss narrowed to $8.6 million from $21.5 million, helped by collaboration revenue and $5.0 million of interest income.
Septerna ended the quarter with $522.1 million in cash, cash equivalents and marketable securities and deferred revenue of $152.0 million, and expects this liquidity to fund operations at least into 2029. The company also initiated a Phase 1 trial of SEP-479, an oral PTH1R agonist for hypoparathyroidism, with data anticipated in late 2026 or early 2027.
Septerna, Inc. reported a profitable Q3 2025 as collaboration revenue ramped and interest income increased. Revenue was $21,495 thousand for the three months ended September 30, 2025, up from $176 thousand a year ago, reflecting recognition under its Novo Nordisk collaboration. The company recorded net income of $8,173 thousand in Q3 2025, compared to a net loss of $20,523 thousand in Q3 2024. Results also included a $12,500 thousand gain on sale of a non‑financial asset tied to a Vertex milestone.
Liquidity strengthened with cash, cash equivalents and marketable securities of $561,600 thousand as of September 30, 2025. Deferred revenue was $182,250 thousand (current $61,603 thousand; non‑current $120,647 thousand) from the $195,000 thousand Novo upfront received in July 2025, of which $12,750 thousand was recognized year‑to‑date. R&D expense was $24,264 thousand and G&A was $7,117 thousand in Q3 2025. Shares outstanding were 44,774,192 as of November 4, 2025.
Septerna, Inc. reported a net loss of $46.3 million for the six months ended June 30, 2025, compared with a $30.6 million loss in the prior-year period. Revenue remained minimal at $0.3 million for the six months, generated from Vertex research services. Research and development expenses rose to $41.5 million and general and administrative expenses to $13.8 million, driving total operating expenses of $55.2 million. Cash used in operating activities was $43.6 million for the six months. The company had an accumulated deficit of $164.7 million as of June 30, 2025.
The company reported $189.3 million in cash and cash equivalents and $190.0 million of additional marketable securities (current and non-current) for total cash, cash equivalents and marketable securities of approximately $379.2 million, which management states is expected to fund operations for at least 12 months. Material agreements disclosed include a Collaboration and License Agreement with Novo Nordisk for multiple R&D programs with a $195.0 million upfront payment received in July 2025 and potential milestone and royalty payments, and a Vertex milestone payment realized in August 2025 of $12.5 million.