Company Overview - Septerna is a clinical-stage biotechnology company focused on GPCR-targeted drug discovery using its proprietary Native Complex Platform [3] - The company aims to unlock the full potential of GPCR therapies and has developed a pipeline of oral small molecule product candidates [3] - Initial therapeutic areas of focus include endocrinology, immunology and inflammation, and metabolic diseases [3] Upcoming Presentation - Jeffrey Finer, M.D., Ph.D., CEO and co-founder of Septerna, will present at the 43rd Annual J.P. Morgan Healthcare Conference on January 14, 2025, at 3:45 p.m. PT [1] - A live webcast of the presentation will be available on the company's website and archived for 30 days [2]

Financial Performance - The company recorded a net income of $4.2 million for the year ended December 31, 2023, primarily due to a gain of $47.6 million from the sale of an in-progress research and development asset [102][103]. - The company incurred net losses of $20.5 million and $51.1 million for the three and nine months ended September 30, 2024, respectively, compared to net losses of $10.9 million and $30.7 million for the same periods in 2023 [103]. - The net loss for the three months ended September 30, 2024, was $20.5 million, compared to a net loss of $10.9 million in 2023, indicating a worsening financial position [130]. - The company reported net losses of $20.5 million and $51.1 million for the three and nine months ended September 30, 2024, respectively, compared to net losses of $10.9 million and $30.7 million for the same periods in 2023 [144]. - The company expects to continue incurring net losses for the foreseeable future, with an accumulated deficit of $97.7 million as of September 30, 2024 [144]. Revenue Generation - The company has not generated any revenue from product sales and relies solely on research services for revenue generation [116]. - Revenue for the three months ended September 30, 2024, was $176,000, a significant increase of 433% compared to $33,000 for the same period in 2023 [130]. - For the nine months ended September 30, 2024, total revenue was $863,000, an increase of 2515% from $33,000 in the same period of 2023 [137]. - Service revenue from research activities for Vertex was $0.2 million for the three months ended September 30, 2024, compared to negligible revenue in the same period of 2023 [131]. Expenses - Research and development expenses for the three months ended September 30, 2024, were $17.8 million, up 92% from $9.3 million in 2023, primarily due to increased external research costs and higher direct costs [132]. - Total operating expenses for the nine months ended September 30, 2024, were $56.9 million, up 77% from $32.3 million in 2023, largely due to increased research and development costs [137]. - Research and development expenses increased to $46.0 million for the nine months ended September 30, 2024, up from $25.7 million in the same period of 2023, representing a change of $20.4 million [139]. - General and administrative expenses increased to $4.9 million for the three months ended September 30, 2024, from $2.8 million in 2023, reflecting higher consulting and employee-related costs [134]. - General and administrative expenses rose to $10.9 million for the nine months ended September 30, 2024, compared to $6.6 million in 2023, an increase of $4.3 million [140]. Cash and Funding - The company has cash, cash equivalents, and marketable securities of $137.5 million, which, along with IPO proceeds, is expected to fund operations into the second half of 2027 [109]. - Net cash used in operating activities was $46.5 million for the nine months ended September 30, 2024, compared to $29.9 million in 2023 [148]. - The company completed its IPO in October 2024, raising approximately $302.6 million in net proceeds after deducting offering costs [107]. - Future funding requirements will depend on various factors, including the progress of clinical trials and potential collaborations [154]. Research and Development - The company expects to incur significant expenses related to research and development, including costs for clinical trials and external research services [104][119]. - The company utilizes contract research organizations for preclinical and clinical trials and plans to continue this approach until internal manufacturing capabilities are justified [110]. - The increase in research and development expenses was attributed to $3.4 million in external research costs and $3.0 million in higher direct costs for preclinical programs [132]. - The company aims to expand its pipeline of product candidates across multiple therapeutic areas, including endocrinology, immunology, and metabolic diseases [97]. Accounting and Compliance - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards until they apply to private companies [167]. - The company may remain an emerging growth company until it exceeds $1.235 billion in annual gross revenue or meets other specified criteria [167]. - The market value of the company's stock held by non-affiliates must be less than $250 million or annual revenue must be less than $100 million to qualify as a "smaller reporting company" [167]. - There were no material changes to the company's critical accounting policies and estimates during the nine months ended September 30, 2024 [165]. - The company is not required to provide quantitative and qualitative disclosures about market risk as it is classified as a smaller reporting company [168]. - Recent accounting pronouncements that may impact the company's financial position are disclosed in the quarterly report [166]. - The financial statements may not be comparable to those of companies that comply with new accounting pronouncements as of public company effective dates [167]. - The company has elected to use the extended transition period under the JOBS Act until it no longer qualifies as an emerging growth company [167]. - The preparation of financial statements requires estimates and assumptions that affect reported amounts of assets and liabilities [164]. - Actual results may differ from estimates, which could be material to the company's financial condition [164].

Exhibit 99.1 Septerna Reports Third Quarter 2024 Financial Results and Recent Business Highlights Deep Pipeline of GPCR Programs Focused Initially on Indications in Endocrinology, Immunology and Inflammation, and Metabolic Diseases Phase 1 Clinical Trial Ongoing for SEP-786, Oral Small Molecule for Hypoparathyroidism, with Data Expected in Mid-2025 Well-Capitalized with Balance Sheet to Support a Planned Operating Runway into Second Half of 2027 SOUTH SAN FRANCISCO, Calif. – November 20, 2024 – Septerna, In ...

Deep Pipeline of GPCR Programs Focused Initially on Indications in Endocrinology, Immunology and Inflammation, and Metabolic Diseases Phase 1 Clinical Trial Ongoing for SEP-786, Oral Small Molecule for Hypoparathyroidism, with Data Expected in Mid-2025 Well-Capitalized with Balance Sheet to Support a Planned Operating Runway into Second Half of 2027 SOUTH SAN FRANCISCO, Calif., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Septerna, Inc. (Nasdaq: SEPN), a clinical-stage biotechnology company pioneering a new era of G p ...