Septerna, Inc.
- Open
- 33.45
- Day high
- 35.02
- Day low
- 33.02
- Prev close
- 33.49
- Volume
- 199K
- Mkt cap
- $1.6B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 4.2
- P/S
- 21.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.5M over the last 3 months (0 open-market buys, 11 sales)
- 🏛Institutions accumulating (13F)
Septerna, Inc. (SEPN) is a Healthcare company listed on NASDAQ. The stock is up 216% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 11 sales (SEC Form 4).
Septerna, Inc. (SEPN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SEPN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $-0.51 | $-0.19 | +62.7% | $27M | +56.2% |
| Mar 9, 2026 | $-0.25 | $-0.24 | +5.6% | $24M | +55.0% |
| May 15, 2025 | $-0.38 | $-0.49 | -28.9% | $219000 | -99.3% |
| Mar 27, 2025 | $-0.69 | $-0.64 | +7.2% | $212000 | — |
| Nov 20, 2024 | $-0.83 | $-8.40 | -912.0% | $176000 | — |
| Dec 31, 2023 | — | $2.05 | — | $118000 | — |
| Sep 30, 2023 | — | $-0.56 | — | $33000 | — |
SEPN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 30, 2026 | RA CAPITAL MANAGEMENT, L.P.director, 10 percent owner: | Grant | 15,000 | $37.34 |
| Jun 30, 2026 | Simson Jakedirector | Grant | 15,000 | $37.34 |
| Jun 30, 2026 | Ezekowitz Alandirector | Grant | 15,000 | $37.34 |
| Jun 30, 2026 | Gottesdiener Keith Michaeldirector | Grant | 11,260 | $37.34 |
| Jun 30, 2026 | Tong Jeffrey Kdirector | Grant | 15,000 | $37.34 |
| Jun 30, 2026 | Coulie Bernarddirector | Grant | 15,000 | $37.34 |
| Jun 30, 2026 | Sharp Shalinidirector | Grant | 15,000 | $37.34 |
| Jun 30, 2026 | Bassan Abrahamdirector | Grant | 15,000 | $37.34 |
| Jun 30, 2026 | Shaikhly Samiraofficer: Chief People Officer | Sell | 2,178 | $35.18 |
| Jun 30, 2026 | Shaikhly Samiraofficer: Chief People Officer | Option | 2,178 | $6.81 |
| Jun 24, 2026 | Long Daniel D.officer: SVP, Drug Discovery | Option | 4,471 | $11.70 |
| Jun 24, 2026 | Long Daniel D.officer: SVP, Drug Discovery | Sell | 7,000 | $35.97 |
| Jun 24, 2026 | Long Daniel D.officer: SVP, Drug Discovery | Sell | 8,000 | $35.10 |
| Jun 24, 2026 | Long Daniel D.officer: SVP, Drug Discovery | Option | 10,529 | $2.76 |
| Jun 16, 2026 | Shaikhly Samiraofficer: Chief People Officer | Sell | 6,250 | $35.08 |
Source: SEPN SEC Form 4 filings, latest Jun 30, 2026. For informational purposes only — not investment advice.
See the full SEPN insider & 13F page →Septerna, Inc. company profile
Overview
Septerna, Inc. (NASDAQ:SEPN) is a clinical-stage biotechnology company founded in 2019 and headquartered in South San Francisco, California. Originally incorporated as GPCR NewCo, Inc., the company changed its name to Septerna Inc. in June 2021 and went public in October 2024. Septerna focuses on discovering and developing oral small molecule drug candidates that target G protein-coupled receptors (GPCRs) for treating endocrinology, immunology, inflammation, and metabolic diseases.
Business
Septerna operates in the biotechnology sector, specifically focusing on drug discovery and development targeting G protein-coupled receptors (GPCRs). GPCRs are a large family of cell surface proteins that play crucial roles in cellular communication and are involved in many physiological processes. When these receptors malfunction, they can contribute to various diseases. Traditionally, most GPCR-targeting drugs have been delivered through injections, but Septerna's innovation lies in developing oral small molecule drugs that can achieve the same therapeutic effects through pills rather than injections. The company's pipeline includes several key programs: SEP-786 is an oral small molecule PTH1R agonist being developed for hypoparathyroidism, a rare condition where the parathyroid glands don't produce enough parathyroid hormone, leading to dangerously low calcium levels. SEP-631 targets MRGPRX2 for chronic spontaneous urticaria (chronic hives) and other mast cell diseases. The company also has a TSHR Program developing oral small molecule TSHR antagonists for Graves' disease and thyroid eye disease, conditions caused by overactive thyroid function. Additionally, Septerna is working on oral incretin receptor agonists for metabolic disorders including obesity and type 2 diabetes, competing in the same therapeutic space as popular injectable drugs like Ozempic and Wegovy. Based on the minimal revenue figures (around $200,000 quarterly), the company appears to be in early clinical stages with revenue likely coming from research collaborations or grants rather than product sales. The company has not yet disclosed specific revenue breakdowns by program, as it remains in the clinical development phase across all its drug candidates.
Revenue model
As a clinical-stage biotechnology company, Septerna does not yet generate meaningful revenue from product sales. The company's current minimal revenue of approximately $200,000 per quarter likely comes from research collaborations, licensing agreements, or government grants rather than commercial drug sales. The company's future business model will be based on developing and commercializing its oral GPCR-targeting drugs, with revenue expected to come from direct product sales once drugs receive regulatory approval. The company's path to profitability depends on successfully advancing its drug candidates through clinical trials, obtaining regulatory approvals from agencies like the FDA, and then commercializing these drugs. The target patient populations include individuals with rare endocrine disorders like hypoparathyroidism, patients with chronic urticaria, those with Graves' disease, and the large metabolic disease market including obesity and diabetes patients. Several factors could significantly impact Septerna's margins and success. Positive clinical trial results would increase the company's value and potential revenue, while negative results could severely impact prospects. The competitive landscape, particularly in metabolic diseases where companies like Novo Nordisk and Eli Lilly dominate with GLP-1 drugs, will affect market share potential. Regulatory approval timelines and requirements will determine when revenue can begin flowing. Manufacturing costs for oral small molecules are generally lower than for injectable biologics, potentially providing margin advantages. Healthcare reimbursement policies and pricing pressures from payers will ultimately determine the commercial viability of approved drugs. The company's ability to establish intellectual property protection and defend against generic competition will also be crucial for long-term profitability.
Competitive moat
Septerna's competitive moat is currently narrow and largely dependent on its execution capabilities and intellectual property position. The company's primary differentiation lies in its focus on developing oral alternatives to injectable GPCR-targeting therapies, which could provide significant patient convenience advantages. However, this technological approach is not necessarily proprietary, and larger pharmaceutical companies with more resources could potentially develop similar oral formulations. The company's moat strength varies by therapeutic area. In rare diseases like hypoparathyroidism, the smaller market size and specialized expertise required may provide some protection from large competitors, though the limited market size also constrains revenue potential. In the highly competitive metabolic disease space, Septerna faces formidable competition from established players like Novo Nordisk, Eli Lilly, and others who have significant resources, established relationships with healthcare providers, and proven track records in bringing metabolic drugs to market. The company's intellectual property portfolio around its specific oral GPCR modulators could provide some protection, but the strength of these patents and their ability to withstand challenges remains to be proven. Additionally, as a clinical-stage company, Septerna faces the fundamental risk that any of its drug candidates could fail in clinical trials, potentially eliminating entire programs. The company's relatively small size and limited resources compared to Big Pharma competitors represent a significant vulnerability, though this could also make it an attractive acquisition target if its programs show promise.
Risks & safety
Septerna presents a mixed margin of safety profile typical of early-stage biotechnology companies, with strong liquidity but high cash burn and uncertain prospects. • Liquidity and Solvency: Strong cash position with $210 million in cash and short-term investments as of Q1 2025, providing substantial runway. Current ratio of 32.2 indicates excellent short-term liquidity with minimal current liabilities of $10.6 million. • Cash Burn: High quarterly cash burn of approximately $23-24 million from operations, suggesting roughly 2-2.5 years of runway at current burn rate. Free cash flow consistently negative at $69.6 million annually in 2024. • Debt Level: Minimal debt with debt-to-equity ratio of only 6.3%, indicating low financial leverage risk. • Valuation Metrics: Trading at 0.64x book value, suggesting potential undervaluation relative to assets. However, negative earnings make traditional P/E ratios meaningless. Enterprise value metrics are distorted by negative EBITDA. • Other Considerations: Recent IPO in October 2024 provides access to public capital markets. Clinical-stage risk remains high with binary outcomes possible from trial results. No revenue diversification as company remains pre-commercial across all programs.
Recent development
As a recently public company with limited earning call transcripts available, Septerna's recent developments must be inferred from its financial progression and business description. The company completed its initial public offering in October 2024, transitioning from a private to public biotechnology company and raising capital to fund its clinical programs. This IPO represents a significant milestone, providing access to public capital markets and enabling continued advancement of its GPCR-targeting drug portfolio. The company has been advancing multiple clinical programs simultaneously across different therapeutic areas. Its lead programs include SEP-786 for hypoparathyroidism, SEP-631 for chronic urticaria, and its TSHR program for Graves' disease and thyroid eye disease. The development of oral incretin receptor agonists for metabolic disorders represents the company's entry into the highly competitive but lucrative obesity and diabetes treatment market, positioning it to compete with established injectable therapies. Septerna's strategic focus on oral formulations of GPCR-targeting drugs represents a significant differentiation strategy in markets traditionally dominated by injectable therapies. This approach could potentially improve patient compliance and expand market access if successful. The company's pipeline diversification across rare diseases and large market opportunities like metabolic disorders suggests a balanced risk-reward portfolio approach to drug development.
SEPN company profile · for informational purposes only — not investment advice.
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