Septerna Inc
For the period ended Sep 30, 2024. Filed Nov 20, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 20, 2024
SEPN$52.34+3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(51,130) | $(30,714) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,013 | 605 |
| Non-cash operating lease expense | 890 | 515 |
| Stock-based compensation | 1,888 | 1,045 |
| Amortization of premiums (discounts), net | (601) | — |
| Deferred income tax | (338) | — |
| Other | 52 | 5 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (1,249) | (34) |
| Accounts receivable | (60) | (33) |
| Other non-current assets | (173) | (215) |
| Accounts payable | 2,419 | (1,131) |
| Accrued expenses and other current liabilities | 579 | 559 |
| Operating lease, net | 198 | (528) |
| Net cash used in operating activities | (46,512) | (29,926) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (1,491) | (1,639) |
| Proceeds from sale of non-financial asset | 22,625 | 25,000 |
| Purchases of available-for-sale marketable securities | (65,828) | — |
| Maturities of available-for-sale marketable securities | 17,335 | — |
| Net cash (used in) provided by investing activities | (27,359) | 23,361 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of Series B Convertible Preferred Stock, net of issuance costs | 74,942 | 74,521 |
| Repurchases of unvested restricted common stock | (1) | (1) |
| Proceeds from exercise of stock options | 16 | — |
| Payments of deferred offering costs | (1,327) | — |
| Net cash provided by financing activities | 73,630 | 74,520 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (241) | 67,955 |
| Cash, cash equivalents and restricted cash, beginning of period | 89,388 | 31,469 |
| Cash, cash equivalents and restricted cash, end of period | $89,147 | $99,424 |
| Reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed balance sheets to the total amounts reported on the unaudited condensed statements of cash flows: | ||
| Cash and cash equivalents | $88,242 | $98,519 |
| Restricted cash | 905 | 905 |
| Total cash, cash equivalents and restricted cash at end of period | $89,147 | $99,424 |
| Supplemental cash flow information: | ||
| Cash paid for income taxes | $232 | $— |
| Supplemental disclosure for noncash investing and financing activities: | ||
| Right-of-use asset recognized in exchange for operating lease liability | $(12,462) | $— |
| Unpaid deferred offering costs included in accounts payable and accrued expenses and other current liabilities | $1,882 | $— |
| Property and equipment included in accounts payable and accrued expenses and other current liabilities | $321 | $355 |
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