Septerna, Inc.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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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, 2025 · Filed Nov 10, 2025
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 Operations and Comprehensive Income (Loss)
(In thousands, except for share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $21,495 | $176 | $21,833 | $863 |
| Operating (income) expenses: | ||||
| Research and development | 24,264 | 17,832 | 65,723 | 46,020 |
| General and administrative | 7,117 | 4,894 | 20,884 | 10,948 |
| Gain on sale of non-financial asset | (12,500) | — | (12,500) | — |
| Total operating expenses | 18,881 | 22,726 | 74,107 | 56,968 |
| Income (loss) from operations | 2,614 | (22,550) | (52,274) | (56,105) |
| Other income, net: | ||||
| Interest income | 5,565 | 1,900 | 14,192 | 4,709 |
| Other expense, net | (6) | (9) | (59) | (72) |
| Total other income, net | 5,559 | 1,891 | 14,133 | 4,637 |
| Income (loss) before benefit for income taxes | 8,173 | (20,659) | (38,141) | (51,468) |
| Benefit for income taxes | — | 136 | — | 338 |
| Net income (loss) attributable to common stockholders | $8,173 | $(20,523) | $(38,141) | $(51,130) |
| Net income (loss) per share attributable to common stockholders: | ||||
| Basic | $0.18 | $(8.40) | $(0.86) | $(21.87) |
| Diluted | $0.18 | $(8.40) | $(0.86) | $(21.87) |
| Weighted-average shares outstanding used in computing net income per share attributable to common stockholders: | ||||
| Basic | 44,343,085 | 2,443,678 | 44,150,041 | 2,337,891 |
| Diluted | 45,602,099 | 2,443,678 | 44,150,041 | 2,337,891 |
| Comprehensive income (loss): | ||||
| Net income (loss) | $8,173 | $(20,523) | $(38,141) | $(51,130) |
| Net unrealized gain on marketable securities | 199 | 184 | 319 | 176 |
| Total other comprehensive income | 199 | 184 | 319 | 176 |
| Comprehensive income (loss) | $8,372 | $(20,339) | $(37,822) | $(50,954) |
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