Septerna, Inc.
For the period ended Mar 31, 2026. Filed May 11, 2026.
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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.
Mar 31, 2026 · Filed May 11, 2026
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)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(8,637) | $(21,476) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 421 | 397 |
| Non-cash operating lease expense | 566 | 516 |
| Stock-based compensation | 6,015 | 1,482 |
| Accretion of discounts, net | (755) | (965) |
| Other | 3 | (11) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (294) | (488) |
| Accounts receivable | (486) | (79) |
| Other non-current assets | 43 | (9) |
| Accounts payable | (2,302) | 1,186 |
| Accrued expenses and other current liabilities | (3,533) | (3,446) |
| Deferred revenue | (16,239) | — |
| Operating lease, net | (535) | (450) |
| Other non-current liabilities | 100 | — |
| Net cash used in operating activities | (25,633) | (23,343) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (832) | (382) |
| Purchases of marketable securities | (105,230) | (49,715) |
| Maturities of marketable securities | 82,245 | 45,223 |
| Net cash used in investing activities | (23,817) | (4,874) |
| Cash flows from financing activities: | ||
| Proceeds from exercise of stock options | 333 | 66 |
| Net cash provided by financing activities | 333 | 66 |
| Net decrease in cash, cash equivalents and restricted cash | (49,117) | (28,151) |
| Cash, cash equivalents and restricted cash, beginning of period | 121,627 | 239,101 |
| Cash, cash equivalents and restricted cash, end of period | $72,510 | $210,950 |
Cash, Cash Equivalents and Restricted Cash:
| As of March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash and cash equivalents | $71,605 | $210,045 |
| Restricted cash | 905 | 905 |
| Total cash, cash equivalents and restricted cash at end of period | $72,510 | $210,950 |
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