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Seaport Therapeutics (Nasdaq: SPTX) Q1 loss, cash runway into 2029

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Seaport Therapeutics reported a larger first-quarter 2026 loss while significantly strengthening its balance sheet and advancing its neuropsychiatry pipeline. Net loss was $25.4M, compared with $13.1M a year earlier, driven mainly by higher research and development spending of $21.4M as lead programs moved into later-stage trials.

Cash, cash equivalents, and investments totaled $212.6M as of March 31, 2026. In May, Seaport completed an upsized IPO generating gross proceeds of $260.0M, and now expects its current cash to fund operations into 2029. The company highlighted progress across its GlyphAllo and GlyphAgo programs, including a potentially registration-enabling Phase 2b MDD trial, new Phase 1 data supporting dose selection in GAD, and plans for multiple Phase 2 studies with topline readouts extending through 2028.

Positive

  • Cash runway into 2029 supported by major IPO: Seaport ended March 31, 2026 with $212.6M in cash, cash equivalents, and investments and subsequently raised $260.0M in gross IPO proceeds, which management expects will fund operations, including multiple Phase 2 trials, into 2029.

Negative

  • None.

Insights

Seaport extended cash runway into 2029 while increasing R&D spend to advance multiple CNS programs.

Seaport Therapeutics posted a first-quarter $25.4M net loss as it ramped research and development to $21.4M, up from $10.5M a year earlier. This reflects heavier investment in its GlyphAllo and GlyphAgo clinical programs and related personnel.

The company ended March 31 with $212.6M in cash, cash equivalents, and investments, then completed an upsized IPO raising an additional $260.0M in gross proceeds. Management now expects this capital to fund operations into 2029, covering several planned Phase 2 trials and key topline data readouts through 2028.

For investors, the combination of a larger operating loss and extended cash runway is typical of clinical-stage biotech: near-term dilution and higher burn in exchange for funding multi-year development. Subsequent filings may detail how spending shifts across programs as Phase 2 studies progress.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net loss Q1 2026 $25.4M Net loss for the three months ended March 31, 2026
Net loss Q1 2025 $13.1M Net loss for the three months ended March 31, 2025
R&D expenses Q1 2026 $21.4M Research and development for quarter ended March 31, 2026
G&A expenses Q1 2026 $6.1M General and administrative for quarter ended March 31, 2026
Cash and investments $212.6M Cash, cash equivalents and investments as of March 31, 2026
IPO gross proceeds $260.0M Gross proceeds from upsized IPO completed in May 2026
Net loss per share 2026 $10.34 Basic and diluted net loss per share, Q1 2026
Working capital $174.1M Working capital as of March 31, 2026
Phase 2b medical
"a potentially registration-enabling Phase 2b trial investigating the safety and efficacy"
Phase 2b is a stage in the development of a new medicine or treatment where researchers test its effectiveness and safety in a larger group of people. This step helps determine whether the treatment works well enough to move forward and if it has manageable side effects, which is important for investors because successful results can lead to potential approval and market opportunity.
proof-of-concept trial medical
"the Phase 1 proof-of-concept trial of , which we believe substantially derisk"
A proof-of-concept trial is an early clinical study that tests whether a new drug or medical treatment produces the intended effect in people; think of it as a prototype demo that checks if the idea actually works in real patients. For investors it matters because positive results lower scientific and commercial risk, increase the likelihood of further development and regulatory approval, and often trigger share-price moves or new financing, while negative results can sharply reduce a project’s value.
bioavailability medical
"GlyphAgoTMdemonstrated a statistically significant 6.8-fold increase in bioavailability compared to unmodified agomelatine"
Bioavailability is the measure of how much and how quickly a substance, such as a medication or nutrient, enters the bloodstream and becomes available for use by the body. For investors, it matters because it influences how effectively a product works and how quickly results are seen, which can impact a company's success and the potential value of related investments. Think of it like how much of a medicine actually reaches your bloodstream after taking it—that determines how well it can do its job.
multiple-ascending dose medical
"New data reported from multiple-ascending dose (MAD) portion of Phase 1 proof-of-concept trial"
A multiple-ascending dose study is an early-stage clinical trial where groups of volunteers receive a drug repeatedly at progressively higher dose levels to see how the body handles it and whether repeated dosing causes side effects. Think of it as gradually increasing the weight on a workout machine to find the safe, effective range; for investors, results reveal safety, how the drug behaves over time, and whether the program can move into larger, more costly trials.
net loss financial
"Net loss was $25.4 million for the first quarter of 2026"
Net loss is the amount by which a company’s total costs and expenses exceed its total income during a reporting period, after taking into account taxes and one‑time items. It matters to investors because repeated or large net losses can shrink a company’s cash and owner value, reducing its ability to pay dividends, invest for growth or borrow money — like a household spending more than it earns and dipping into savings to cover the shortfall.
stockholders' deficit financial
"Total stockholders' deficit | | $ | (115,621 | )"
When a company's total liabilities exceed its total assets, the owner's equity becomes negative and is reported as a stockholders' deficit. It shows that, on paper, the business owes more than it owns — like a homeowner whose mortgage balance is larger than the home's market value. Investors watch this because it signals financial strain, higher risk of dilution or default, and can limit a company's ability to pay dividends, borrow, or grow.
Net loss $25.4M vs $13.1M in Q1 2025
R&D expenses $21.4M vs $10.5M in Q1 2025
G&A expenses $6.1M vs $5.7M in Q1 2025
Cash, cash equivalents and investments $212.6M as of March 31, 2026
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Understanding 8-K Material Events →
false000204234700020423472026-06-082026-06-08

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 08, 2026

 

 

Seaport Therapeutics, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-43254

99-2235719

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

101 Seaport Blvd.

Floor 12

 

Boston, Massachusetts

 

02210

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (617) 807-4062

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Voting Common Stock, $0.0001 par value per share

 

SPTX

 

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Item 2.02 Results of Operations and Financial Condition.

On June 8, 2026, Seaport Therapeutics, Inc. (the "Company") announced its financial results for the three months ended March 31, 2026. A copy of the press release issued in connection with the announcement is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information in this Current Report on Form 8-K (including Exhibit 99.1 attached hereto) is intended to be furnished and shall not be deemed "filed” for purposes of Section 18 of the Securities Exchange Act of 1934,as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933,as amended, or the Exchange Act,except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

 

 

Exhibit

Number

Description

99.1

Press Release, dated June 8, 2026

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Seaport Therapeutics, Inc

 

 

 

 

Date:

June 8, 2026

By:

/s/ Lauren White

 

 

 

Chief Financial Officer
(Principal Financial Officer and Principal
Accounting Officer)

 

Exhibit 99.1

img130682148_0.gif

Seaport Therapeutics Reports First Quarter 2026 Financial Results and Highlights Recent Corporate and Clinical Progress

New data from Phase 1 trial of GlyphAgoTM build upon previously reported topline data and further demonstrate GlyphAgoTM can achieve therapeutic exposures of agomelatine at doses projected to avoid liver enzyme elevations and reduce or eliminate the need for liver function testing

Enrollment in Phase 2b BUOY-1 trial of GlyphAlloTM is on track with topline data expected in 1H 2027; Seaport dosed first participant in Phase 1 driving simulation trial of GlyphAlloTM, with data expected in 2H 2026

Dr. Sharon Mates, Co-Founder, Chair, and CEO of Intra-Cellular Therapies until its acquisition by Johnson & Johnson for $14.6 billion, was appointed to Board of Directors

Upsized IPO generated $260.0 million in gross proceeds; in addition to $212.6 million on hand as of March 31, 2026, total cash, cash equivalents, and investments expected to fund operations into 2029

 

BOSTON, June 8, 2026 -- Seaport Therapeutics, Inc., (Nasdaq: SPTX) (“Seaport” or the “Company”), a clinical-stage therapeutics company that is inventing and developing novel neuropsychiatric medicines, today announced financial results for the first quarter of 2026 and highlighted recent corporate and clinical progress.

“The first quarter of 2026 was filled with meaningful progress for Seaport, and we significantly advanced the clinical development of our lead GlyphAlloTM and GlyphAgoTM programs,” said Daphne Zohar, Co-Founder and Chief Executive Officer at Seaport Therapeutics. “We previously reported data from the single-ascending dose and crossover portions of the Phase 1 proof-of-concept trial of GlyphAgoTM, which we believe substantially derisk future clinical development of the program. Today, we announced new multiple-ascending dose data from this trial, which further reinforce the ability of GlyphAgoTM to achieve therapeutic exposures of agomelatine at doses projected to avoid liver enzyme elevations. We continue to progress our potentially registration-enabling Phase 2b BUOY-1 trial of GlyphAlloTM and anticipate topline data from that trial in the first half of next year. With a pipeline of novel programs based on clinically validated mechanisms, an experienced team with a track record of success in neuropsychiatry, and a strong balance sheet bolstered by our recent IPO, we look forward to executing on our mission to transform the treatment of neuropsychiatric disorders and improve patients’ lives.”

Recent Business Updates and Anticipated Milestones

GlyphAlloTM (SPT-300 or Glyph Allopregnanolone) Program for Patients with Major Depressive Disorder (MDD)

•
Enrollment on Track in Phase 2b BUOY-1 Trial in MDD. Seaport is actively enrolling patients in BUOY-1, a two-arm, global, randomized, double-blind, placebo-controlled, potentially registration-enabling Phase 2b trial investigating the safety and efficacy of GlyphAlloTM in patients with MDD with or without anxious distress. Topline data from the BUOY-1 trial are expected in the first half of 2027. Given the strength in enrollment and to maximize the likelihood that the BUOY-1 trial could be used to support registration, the Company plans to enroll the full prespecified target sample size of approximately 360 patients and no longer intends to perform a sample size re-estimation (SSRE).

 

•
Dosed First Participant in Phase 1 Driving Simulation Trial. This randomized, double-blind, placebo-controlled Phase 1 trial is designed to evaluate the potential impact of multiple dose levels of GlyphAlloTMon simulated driving performance in healthy volunteers. GlyphAlloTMwill be dosed in the evening, and simulated driving performance will be assessed the following morning, approximately nine hours following GlyphAlloTMadministration, as is typical in driving simulation trials. Topline data from the driving simulation trial are expected in the second half of 2026, in advance of the expected topline readout of the BUOY-1 trial.

 

•
Phase 1 and Phase 2a and Preclinical Data Published in Science Translational Medicine. This publication details the design, optimization, preclinical evaluation, and Phase 1 and 2a clinical development of GlyphAlloTM in healthy volunteers. In Phase 1 and 2a trials, GlyphAlloTM was generally well-tolerated following single- and multiple-ascending oral doses ranging from 70–1000 mg, provided dose-dependent, therapeutically relevant plasma exposures of allopregnanolone, demonstrated pharmacodynamic effects in the brain, and potently blunted the acute physiological stress response on a validated clinical model of anxiety.

GlyphAgoTM (SPT-320 or Glyph Agomelatine) Program for Patients with Generalized Anxiety Disorder (GAD)

•
New Data Reported from Multiple-Ascending Dose (MAD) Portion of Phase 1 Proof-of-Concept Trial in Healthy Volunteers
•
New data demonstrate that seven-day dosing of GlyphAgoTM achieved therapeutic exposures of agomelatine at doses projected to avoid liver enzyme elevations and reduce or eliminate the need for liver function testing.
•
GlyphAgoTM AUC0-24and Cmax increased dose-dependently over the range of doses studied, and agomelatine exposures following GlyphAgoTM administration were consistent with data from the single-ascending dose (SAD) and crossover portions of the trial. There was no unmodified agomelatine arm in the MAD portion.
•
Repeat dosing of GlyphAgoTM confirms favorable safety, tolerability, and pharmacokinetics across the Phase 1 program, with no serious or liver-related adverse events observed.
•
In April 2026, Seaport reported results from the head-to-head crossover portion of the trial, in which GlyphAgoTMdemonstrated a statistically significant 6.8-fold increase in bioavailability compared to unmodified agomelatine in healthy volunteers, exceeding the
program’s two-fold target to mitigate liver exposure. GlyphAgoTMalso showed significantly lower (10-fold) PK variability compared to unmodified agomelatine. The crossover portion included participants who were taking estrogen-containing oral contraceptives that are known to increase agomelatine exposure due to liver drug-drug interaction. In contrast, GlyphAgoTMexposure was unaffected by oral contraceptives, further supporting the ability of GlyphAgoTM to bypass first-pass liver metabolism. GlyphAgoTMdemonstrated a 9.6 to 14.5-fold increase in dose-normalized exposure compared to agomelatine in a separate SAD portion of the trial in which no participants were on oral contraceptives. GlyphAgoTM was well-tolerated across all evaluated doses, and no serious or severe adverse events or liver-related adverse effects were reported.
•
Results support dose selection and planned advancement into two parallel Phase 2 trials in patients with GAD.

 

•
Company Expects to Initiate a Phase 2a Proof-of-Pharmacology Trial in the Second Half of 2026. This randomized, double-blind trial of two dose levels of GlyphAgo is designed to demonstrate proof-of-pharmacology by characterizing the potential benefits of GlyphAgoTM on sleep, including objective measures of sleep architecture, in patients with GAD and sleep disturbance. Topline data from this trial are expected in early 2028.

 

•
Company Expects to Initiate a Phase 2b Trial in the First Half of 2027. This randomized, double-blind, placebo-controlled, potentially registration-enabling trial is designed to evaluate the efficacy and safety of GlyphAgoTM in patients with GAD. Topline data from this trial are expected by year-end 2028.

Preclinical and Discovery Programs

•
Glyph2BLSDTM (SPT-348 or Glyph 2-bromo-LSD) Program on Track. Seaport is developing Glyph2BLSDTMfor depressive disorders, including treatment-resistant depression, post-traumatic stress disorder, and headache disorders with significant unmet need. Glyph2BLSD is a non-hallucinogenic neuroplastogen designed to harness the pharmacology of a psychedelic without the hallucination, or “trip.” Completion of first-in-human-enabling studies is expected by year-end 2027.

 

•
Seaport and Monash Institute of Pharmaceutical Sciences Awarded Up to $15 Million from ARPA-H. Advanced Research Projects Agency for Health (ARPA-H) award supports the development of GlyphCeleTMor Cele-ProTM, an oral prodrug designed using Seaport’s proprietary GlyphTM platform to address dysfunctional gut lymphatics and local inflammation linked to metabolic disease and pancreatic cancer.

Corporate

•
Upsized IPO Raising $260.0M Completed. Seaport closed its upsized initial public offering (IPO) in May 2026, and the Company raised gross proceeds of $260.0 million, before deducting underwriting discounts, commissions, and other offering expenses. The net proceeds from the
offering together with the Company’s current cash, cash equivalents and investments are expected to support Seaport’s current operating plans into 2029, which includes multiple anticipated topline data readouts, including the Phase 2b BUOY-1 trial of GlyphAlloTM in patients with MDD, the Phase 2a trial of GlyphAgoTMin patients with GAD and sleep disturbance, and the Phase 2b trial of GlyphAgoTMin patients with GAD.

 

•
Sharon Mates, Ph.D. Appointed to Board of Directors. Dr. Mates served as Co-Founder, Chairman, and Chief Executive Officer of Intra-Cellular Therapies, Inc., which she co-founded in 2002, until its acquisition by Johnson & Johnson (J&J) for $14.6 billion in 2025. Under Dr. Mates’ leadership, Intra-Cellular Therapies developed medicines for mental health disorders including bipolar disorder, depression, and schizophrenia, and received U.S. Food and Drug Administration (FDA) approval for its novel antipsychotic CAPLYTA®, which generated greater than $1.5 billion in sales prior to the company’s acquisition by J&J, and continued its commercial growth thereafter driven by expanded market reach and additional FDA approvals.. In connection with Seaport’s IPO, Robert Nelson, Eric Elenko, Ph.D., and Robert Lyne transitioned off of the Company’s Board of Directors.

First Quarter 2026 Financial Results

•
Cash Position: Cash, cash equivalents, and investments totaled $212.6 million as of March 31, 2026. Subsequent to March 31, 2026, Seaport completed its IPO, in which the Company raised gross proceeds of an additional $260.0 million, before deducting underwriting discounts, commissions, and other offering expenses. Seaport expects its current cash, cash equivalents, and investments to support its current operating plans into 2029.

 

•
R&D Expenses: Research and development (R&D) expenses were $21.4 million for the quarter ended March 31, 2026 as compared with $10.5 million for the quarter ended March 31, 2025. The increase in R&D expenses of $10.9 million was primarily due to increases in clinical development expenses of GlyphAlloTMand GlyphAgoTM as they advanced into later stage development, and related personnel costs to support the Company’s R&D operations.

 

•
G&A Expenses: General and administrative (G&A) expenses were $6.1 million for the quarter ended March 31, 2026 as compared with $5.7 million for the quarter ended March 31, 2025. The increase in G&A expenses of $0.5 million was primarily due to increased personnel costs and was partially offset by reduced professional fees, as compared to the same period in the prior year.

 

•
Net Loss: Net loss was $25.4 million for the first quarter of 2026, as compared to a net loss of $13.1 million for the first quarter of 2025.

 

 

About Seaport Therapeutics

Seaport Therapeutics (Nasdaq: SPTX) is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety, and other debilitating neuropsychiatric

disorders. Through its differentiated approach, the Company identifies clinically validated mechanisms with established efficacy and safety which had historically been limited by high first-pass metabolism, low bioavailability, and/or side effects. Seaport applies its proprietary GlyphTMplatform to overcome those limitations and invent innovative oral therapies. With an experienced team of industry leaders, Seaport has a proven track record in neuropsychiatry drug discovery and development and delivering successful business outcomes. Seaport aims to develop novel, leading treatment options that will make a significant impact for patients and their families. For more information, please visit www.seaporttx.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, but are not limited to, express or implied statements regarding our product candidates, including the ongoing Phase 2b trial of GlyphAllo, enrollment status and anticipated timing of topline data in the first half of 2027, the Phase 1 driving simulation trial for GlyphAllo in healthy volunteers and timing of results in the second half of 2026, the ongoing Phase 1 trial of GlyphAgo, results related thereto, and anticipated Phase 2a proof-of-pharmacology and Phase 2b trials and related data in 2028, preclinical and clinical development activities and timelines, including preclinical and first-in-human-enabling activities for Glyph2BLSD (SPT-348), and our expectations regarding uses of capital, expenses and financial results, including the expected cash runway and financial performance.

Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect Seaport Therapeutics’ business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to the Company’s research and development activities; risks that interim results are not predictive of final results in a clinical trial, Seaport Therapeutics’ ability to execute on its strategy including obtaining the requisite regulatory approvals on the expected timeline, if at all; uncertainties relating to preclinical and clinical development activities; the Company’s dependence on third parties to conduct clinical trials, manufacture its product candidates and develop and commercialize its product candidates, if approved; Seaport Therapeutics’ ability to attract, integrate and retain key personnel; risks related to the Company’s financial condition and need for substantial additional funds in order to complete development activities and commercialize a product candidate, if approved; risks related to regulatory developments and approval processes of the U.S. Food and Drug Administration and comparable foreign regulatory authorities; risks related to establishing and maintaining Seaport Therapeutics’ intellectual property protections; and risks related to the competitive landscape for Seaport Therapeutics’ product candidates; as well as other risks described in “Risk Factors,” in Seaport Therapeutics’ Registration Statement on Form S-1 filed with the Securities and Exchange Commission (SEC), as well as subsequent filings with the SEC. Seaport Therapeutics expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any

forward-looking statements contained herein to reflect any change in its expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Seaport uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the Company’s Investor Relations website, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations, and webcasts.

 

 

 

 

Seaport Therapeutics, Inc.

 

Consolidated Statements of Operations and Comprehensive Loss (unaudited)

 

(In thousands, except share and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

 

 

2026

 

 

2025

 

Operating expenses:

 

 

 

 

 

 

 

Research and development (including stock-based compensation expense of
   $0.9 million and $0.5 million for three months ended March 31, 2026 and 2025,
   respectively)

 

$

21,431

 

 

$

10,534

 

General and administrative (including stock-based compensation expense of
   $1.7 million and $1.1 million for the three months ended March 31, 2026 and 2025,
   respectively)

 

 

6,112

 

 

 

5,651

 

Total operating expenses

 

 

 

27,543

 

 

 

16,185

 

Loss from operations

 

 

 

(27,543

)

 

 

(16,185

)

Total other income, net

 

 

 

2,654

 

 

 

3,091

 

Loss before income taxes

 

 

 

(24,889

)

 

 

(13,094

)

Income tax provision

 

 

 

519

 

 

 

31

 

Net loss

 

 

$

(25,408

)

 

$

(13,125

)

Net loss per share, basic and diluted

 

 

$

(10.34

)

 

$

(5.65

)

Weighted-average common shares outstanding, basic and diluted

 

 

 

2,456,766

 

 

 

2,323,724

 

 

 

 

 

Seaport Therapeutics, Inc.

Selected Condensed Consolidated Balance Sheet Data

(In thousands) (Unaudited)

 

 

 

March 31,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Cash, cash equivalents and investments

 

$

212,642

 

 

$

233,653

 

Working capital

 

$

174,118

 

 

$

210,448

 

Total assets

 

$

227,673

 

 

$

249,009

 

Total stockholders' deficit

 

$

(115,621

)

 

$

(92,545

)

 

The above balance sheet data do not reflect the Company’s upsized initial public offering (IPO) in May 2026. In the IPO, the Company raised gross proceeds of $260.0 million, before deducting underwriting discounts, commissions, and other offering expenses.

 

 

 

 

 

 

Seaport Therapeutics
Media Contact:
Shannon Costello
Vice President, Communications
publicrelations@seaporttx.com

Investor Contact:
Adam Bero, Ph.D.
Head of Investor Relations
ir@seaporttx.com

 

Source: View Original Filing on SEC EDGAR

FAQ

How much cash does Seaport Therapeutics (SPTX) have after its IPO?

Seaport held $212.6 million in cash, cash equivalents, and investments as of March 31, 2026 and later raised $260.0 million in gross proceeds from an upsized IPO, extending its operating cash runway into 2029.

What was Seaport Therapeutics' net loss for Q1 2026?

Seaport reported a net loss of $25.4 million for the first quarter of 2026, compared with a net loss of $13.1 million in the first quarter of 2025, reflecting higher research and development investment as programs advanced.

How did Seaport Therapeutics' R&D expenses change year over year?

Research and development expenses were $21.4 million for the quarter ended March 31, 2026 versus $10.5 million a year earlier. The increase mainly reflects higher clinical development costs for GlyphAllo and GlyphAgo and added personnel to support R&D operations.

What is Seaport Therapeutics' development timeline for its lead programs?

Seaport expects Phase 2b BUOY-1 trial topline data in MDD in the first half of 2027, Phase 1 driving simulation data in second half 2026, and multiple GlyphAgo Phase 2 readouts in 2028, funded by its extended cash runway.

What key board change did Seaport Therapeutics announce?

Seaport appointed Dr. Sharon Mates to its Board of Directors. She previously co-founded and led Intra-Cellular Therapies until its $14.6 billion acquisition by Johnson & Johnson, bringing extensive neuropsychiatry and commercialization experience to Seaport.

How did Seaport Therapeutics' operating expenses evolve in Q1 2026?

Total operating expenses reached $27.5 million in Q1 2026, up from $16.2 million in Q1 2025. R&D spending rose significantly, while G&A expenses increased modestly to $6.1 million, partly due to higher personnel costs.

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