Septerna Q3 revenue falls 12% and misses estimates
SEPN•Septerna’s third-quarter revenue fell 12% to $18.88 million, below the $20.78 million analyst estimate. The company reported a $26.59 million net loss and said its $565.2 million in cash is expected to fund operations at least into mid-2029.
1. Quarterly results
Septerna reported third-quarter revenue of $18.88 million, missing the $20.78 million consensus estimate. It posted a net loss of $26.59 million, reversing a year-earlier profit, as higher research and development expenses contributed to the increased loss.
2. Revenue and cash
Revenue included $5.2 million from research milestones and $11.0 million for research services under the Novo Nordisk collaboration. Septerna ended the quarter with $565.2 million in cash and expects it to fund operations at least into mid-2029.
3. Pipeline outlook
The company expects Phase 1 data for SEP-479 in the first quarter of 2027 and plans to initiate a Phase 1 trial for SEP-204 in that quarter.
