Septerna, Inc.(SEPN) - 2024 Q4 - Annual Results

Financial Performance - Septerna reported a net loss of $20.7 million for Q4 2024, compared to a net income of$34.9 million in Q4 2023[10]. - Revenue for Q4 2024 was $212,000, a significant increase from$118,000 in Q4 2023, while total revenue for the full year 2024 was $1.075 million, compared to$151,000 in 2023[17]. - Septerna's total assets were reported at $456.6 million as of December 31, 2024, with total liabilities of$36.5 million[19]. Research and Development - Research and development (R&D) expenses increased to $19.3 million in Q4 2024 from$10.3 million in Q4 2023, and total R&D expenses for the full year 2024 were $65.3 million, up from$36.0 million in 2023[10]. - Septerna plans to select a next-generation oral small molecule PTH1R agonist candidate by the end of 2025 to advance toward clinical development[3]. - The Phase 1 trial for SEP-631, a selective MRGPRX2 NAM for mast cell diseases, is expected to initiate in 2025[4]. - Septerna discontinued its Phase 1 clinical trial of SEP-786 in February 2025 due to elevated bilirubin levels observed during the trial[3]. - The company continues to progress several TSHR NAM lead compounds for Graves' disease and thyroid eye disease[5]. Cash and Liquidity - Cash, cash equivalents, and marketable securities totaled 420.8 million as of December 31, 2024, providing a runway into early 2028[10]. General and Administrative Expenses - General and administrative (G&A) expenses rose to 5.6 million in Q4 2024 from 3.1 million in Q4 2023, with total G&A expenses for the full year 2024 at 16.6 million, up from $9.7 million in 2023[10].