Septerna, Inc., a clinical-stage biotechnology company, discovers and develops G protein-coupled receptor (GPCR) oral small molecule products for the treatment of endocrinology, immunology and inflammation, and metabolic diseases. It develops PTH1R Program, oral small molecule Parathyroid Hormone 1 Receptor agonists for the treatment of hypoparathyroidism; SEP-631, an oral small molecule MRGPRX2 negative allosteric modulator (NAM) for chronic spontaneous urticaria and other mast cell diseases; and TSHR Program, an oral small molecule TSHR NAM for graves’ disease and thyroid eye disease. In addition, it focuses on other therapeutic areas, including neurology, women’s health, cardiovascular disease, and respiratory disease. It has global collaboration and license agreement with Novo Nordisk to discover, develop and commercialize multiple potential oral small molecule therapies for metabolic-related diseases based on certain specified molecular targets. The company was formerly known as GPCR NewCo, Inc. and changed its name to Septerna Inc. in June 2021. Septerna, Inc. was incorporated in 2019 and is headquartered in South San Francisco, California.
Q3 2026 earnings miss and post-rally profit-taking weigh near-term, while SEP-204 candidate selection and Q1 2027 clinical milestones provide a supportive pipeline narrative.
Septerna reported a Q3 2026 net loss of $26.6M (-$0.57/share) versus a $0.18 profit a year earlier, wider than the ~$0.42 loss consensus, with revenue of $18.88M below the ~$20.78M estimate. R&D spending jumped over 50% YoY to $36.6M, widening the loss and triggering a post-earnings pullback of roughly 2.2%.
SEC Filing (Form 8-K / Ex-99.1)Septerna announced selection of oral SEP-204 as its TSHR negative allosteric modulator development candidate for Graves' disease and thyroid eye disease, with preclinical data presented at the ATA annual meeting showing restored T4 levels and reduced proptosis in animal models. The company plans to initiate a Phase 1 trial in Q1 2027, expanding the pipeline and supporting the longer-term narrative.
SEC Filing (Form 8-K)Septerna reiterated that its ongoing Phase 1 SAD/MAD trial of SEP-479, an oral PTH1R agonist for hypoparathyroidism, will report data in Q1 2027. The reaffirmed catalyst timeline keeps investor focus on the upcoming readout, though the event itself falls outside the immediate two-week window.
SEC Filing (Form 8-K / Ex-99.1)At the Guggenheim Healthcare Innovation Conference, Septerna management highlighted a pipeline built entirely around GPCRs and reiterated sufficient cash to fund operations, reinforcing the discovery-platform story. Conference commentary is a modest sentiment support but unlikely to be a major standalone price driver.
Investing.comUnder the July 2025 Novo Nordisk collaboration, Novo assumed responsibility for a Septerna-delivered development candidate and initiated IND-enabling toxicology studies, with Septerna having achieved $13M in research milestones to date. The progress validates the platform and provides non-dilutive revenue, a mild positive for sentiment.
SEC Filing (Form 8-K / Ex-99.1)