Septerna, Inc.
For the period ended Jun 30, 2026. Filed Aug 10, 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.
Jun 30, 2026 · Filed Aug 10, 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)
| Six Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(21,671) | $(46,314) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 848 | 802 |
| Non-cash operating lease expense | 1,141 | 1,039 |
| Stock-based compensation | 11,089 | 3,288 |
| Accretion of discounts, net | (1,217) | (1,940) |
| Other | (4) | (3) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (2,060) | (1,704) |
| Accounts receivable | (1,804) | 20 |
| Other non-current assets | (414) | (33) |
| Accounts payable | (5,797) | 3,381 |
| Accrued expenses and other current liabilities | 425 | (1,261) |
| Deferred revenue | (27,789) | — |
| Operating lease, net | (1,080) | (905) |
| Other non-current liabilities | 521 | — |
| Net cash used in operating activities | (47,812) | (43,630) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (832) | (440) |
| Purchases of marketable securities | (152,795) | (113,560) |
| Maturities of marketable securities | 148,222 | 108,340 |
| Net cash used in investing activities | (5,405) | (5,660) |
| Cash flows from financing activities: | ||
| Proceeds from at-the-market offering, net of commissions | 13,782 | — |
| Proceeds from exercise of stock options | 2,417 | 405 |
| Proceeds from employee stock purchase plan | 958 | — |
| Net cash provided by financing activities | 17,157 | 405 |
| Net decrease in cash, cash equivalents and restricted cash | (36,060) | (48,885) |
| Cash, cash equivalents and restricted cash, beginning of period | 121,627 | 239,101 |
| Cash, cash equivalents and restricted cash, end of period | $85,567 | $190,216 |
| Supplemental disclosure for noncash investing and financing activities: | ||
| Stock option exercised but proceeds not yet received | $91 | $— |
Cash, Cash Equivalents and Restricted Cash:
| As of June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash and cash equivalents | $84,662 | $189,311 |
| Restricted cash | 905 | 905 |
| Total cash, cash equivalents and restricted cash at end of period | $85,567 | $190,216 |
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