Financial Performance - Revenue for the third quarter of 2025 was $21.5 million, a significant increase from $0.2 million in the same quarter of 2024[7] - Net income for the third quarter of 2025 was $8.2 million, a turnaround from a net loss of $20.5 million in Q3 2024[11] - Total stockholders' equity as of September 30, 2025, was $388.7 million, down from $420.0 million at the end of 2024[16] Expenses - Research and development expenses were $24.3 million for Q3 2025, compared to $17.8 million for Q3 2024, reflecting a 36.9% increase[11] - General and administrative expenses rose to $7.1 million in Q3 2025 from $4.9 million in Q3 2024, marking a 45.9% increase[11] Cash Position - Septerna reported a robust cash position of $561.6 million as of September 30, 2025, expected to fund operations into at least 2029[6] Clinical Trials and Research - SEP-479 was selected as the next-generation oral PTH1R agonist candidate, with a Phase 1 clinical trial planned for the first half of 2026[6] - The ongoing Phase 1 clinical trial for SEP-631 is evaluating safety and pharmacokinetics, with initial data expected in the first half of 2026[6] - The company continues to advance its TSHR NAM program, aiming for a potential treatment for Graves' disease and thyroid eye disease[6] Collaborations - Septerna's collaboration with Novo Nordisk commenced in July 2025, focusing on developing oral small-molecule therapies for obesity and type 2 diabetes[6]
Septerna, Inc.(SEPN) - 2025 Q3 - Quarterly Results