Septerna, Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 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.
Sep 30, 2026 · Filed Nov 9, 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)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(48,261) | $(38,141) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 1,242 | 1,203 |
| Gain on sale of non-financial asset | — | (12,500) |
| Non-cash operating lease expense | 1,723 | 1,564 |
| Stock-based compensation | 17,011 | 5,820 |
| Accretion of discounts, net | (1,814) | (2,561) |
| Other | (12) | 26 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (345) | (2,956) |
| Accounts receivable | (8,528) | (8,474) |
| Other non-current assets | (141) | (238) |
| Accounts payable | (2,999) | 530 |
| Accrued expenses and other current liabilities | 7,275 | 20 |
| Deferred revenue | (26,652) | 182,250 |
| Operating lease, net | (1,632) | (1,366) |
| Other non-current liabilities | 1,553 | — |
| Net cash (used in) provided by operating activities | (61,580) | 125,177 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (959) | (453) |
| Proceeds from sale of non-financial asset | — | 12,500 |
| Purchases of marketable securities | (197,467) | (223,515) |
| Maturities of marketable securities | 226,503 | 167,416 |
| Net cash provided by (used in) investing activities | 28,077 | (44,052) |
| Cash flows from financing activities: | ||
| Proceeds from at-the-market offering, net of commissions and issuance costs | 74,788 | — |
| Proceeds from exercise of stock options | 4,159 | 669 |
| Proceeds from employee stock purchase plan | 958 | — |
| Repurchases of unvested restricted common stock | — | (1) |
| Net cash provided by financing activities | 79,905 | 668 |
| Net increase in cash, cash equivalents and restricted cash | 46,402 | 81,793 |
| Cash, cash equivalents and restricted cash, beginning of period | 121,627 | 239,101 |
| Cash, cash equivalents and restricted cash, end of period | $168,029 | $320,894 |
| Supplemental disclosure for noncash investing and financing activities: | ||
| Property and equipment included in accounts payable | $196 | $— |
Cash, Cash Equivalents and Restricted Cash:
| As of September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash and cash equivalents | $167,124 | $319,989 |
| Restricted cash | 905 | 905 |
| Total cash, cash equivalents and restricted cash at end of period | $168,029 | $320,894 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.