Seaport Therapeutics, Inc.
For the period ended Sep 30, 2026. Filed Nov 2, 2026.
View on SEC.govAbout this filing
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, 2026 · Filed Nov 2, 2026
SPTX$21.93+2.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets
(In thousands, except share and per share amounts)(Unaudited)
| September 30, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $61,552 | $46,042 |
| Short-term investments | 228,882 | 169,941 |
| Prepaid expenses and other current assets | 8,628 | 7,247 |
| Total current assets | 299,062 | 223,230 |
| Property and equipment, net | 333 | 412 |
| Right-of-use assets - operating leases | 4,410 | 4,813 |
| Long-term investments | 113,365 | 17,670 |
| Other non-current assets | 454 | 2,884 |
| Total assets | $417,624 | $249,009 |
| Liabilities, convertible preferred stock and stockholders' equity (deficit) | ||
| Current liabilities: | ||
| Accounts payable | $5,814 | $2,007 |
| Related party payable | — | 7 |
| Accrued expenses and other current liabilities | 9,669 | 9,131 |
| Operating lease liability | 1,623 | 1,637 |
| Total current liabilities | 17,106 | 12,782 |
| Operating lease liability, net of current portion | 3,063 | 3,444 |
| Total liabilities | 20,169 | 16,226 |
| Series A-1 convertible preferred stock, par value $0.0001; zero and 40,000,000 shares authorizedas of September 30, 2026 and December 31, 2025, respectively; zero and 40,000,000 sharesissued and outstanding as of September 30, 2026 and December 31, 2025, respectively; liquidationpreference of zero and $4,000 as of September 30, 2026 and December 31, 2025, respectively | — | — |
| Series A-2 convertible preferred stock, par value $0.0001; zero and 26,342,102 shares authorized as of September 30, 2026 and December 31, 2025, respectively; zero and 26,342,102shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively; liquidation preference of zero and $100,100 as of September 30, 2026 and December 31, 2025,respectively | — | 99,757 |
| Series B convertible preferred stock, par value $0.0001; zero and 47,578,938 shares authorized as of September 30, 2026 and December 31, 2025, respectively; zero and 47,578,934shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively;liquidation preference of zero and $226,000 as of September 30, 2026 and December 31, 2025,respectively | — | 225,571 |
| Commitments and contingencies (Note 14) | ||
| Stockholders' equity (deficit) | ||
| Undesignated preferred stock, $0.0001 par value; 10,000,000 and zero shares authorized at September 30, 2026 and December 31, 2025, respectively; zero shares issued and outstanding at September 30, 2026 and December 31, 2025 | — | — |
| Common stock, par value $0.0001; 700,000,000 and 159,070,000 shares authorized as of September 30, 2026 and December 31, 2025, respectively; 53,530,550 and 2,595,342 sharesissued and outstanding as of September 30, 2026 and December 31, 2025, respectively | 5 | 1 |
| Additional paid-in capital | 627,637 | 21,262 |
| Accumulated other comprehensive (loss) income | (1,676) | 301 |
| Accumulated deficit | (228,511) | (114,109) |
| Total stockholders' equity (deficit) | 397,455 | (92,545) |
| Total liabilities, convertible preferred stock and stockholders' equity (deficit) | $417,624 | $249,009 |
Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts) (Unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Operating expenses: | ||||
| Research and development (including non-cash stock-based compensation expense of $1.0 million and $0.6 million for the three months ended September 30, 2026 and 2025, respectively and $2.7 million and $1.7 million for the nine months ended September 30, 2026 and 2025, respectively) | $23,891 | $20,453 | $69,939 | $44,395 |
| General and administrative (including non-cash stock-based compensation expense of $1.5 million and $1.2 million for the three months ended September 30, 2026 and 2025, respectively and $39.1 million and $3.5 million for the nine months ended September 30, 2026 and 2025, respectively) | 6,454 | 4,988 | 53,756 | 15,700 |
| Total operating expenses | 30,345 | 25,441 | 123,695 | 60,095 |
| Loss from operations | (30,345) | (25,441) | (123,695) | (60,095) |
| Other income (expense), net | ||||
| Interest income, net | 3,900 | 2,807 | 9,290 | 8,882 |
| Research and development tax credit | 165 | 146 | 968 | 756 |
| Other income (expense), net | 13 | 39 | (67) | (29) |
| Total other income (expense), net | 4,078 | 2,992 | 10,191 | 9,609 |
| Loss before income taxes | (26,267) | (22,449) | (113,504) | (50,486) |
| Income tax provision | 127 | 95 | 898 | 260 |
| Net loss | $(26,394) | $(22,544) | $(114,402) | $(50,746) |
| Other comprehensive income (loss), net of tax: | ||||
| Foreign currency translation adjustment | 23 | (3) | 56 | (6) |
| Unrealized (loss) gain on available-for-sale securities | (1,224) | 99 | (2,033) | 232 |
| Comprehensive loss | $(27,595) | $(22,448) | $(116,379) | $(50,520) |
| Net loss per share, basic and diluted | $(0.49) | $(9.43) | $(3.72) | $(21.53) |
| Weighted-average common shares outstanding, basic and diluted | 53,530,550 | 2,389,888 | 30,714,936 | 2,357,222 |
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