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Investing.com -- Septerna, Inc. (NASDAQ:SEPN), a biotechnology company focused on G protein-coupled receptor (GPCR) drug discovery, saw its shares fall 4.3% after reporting a widened net loss for the second quarter despite beating earnings expectations.
The clinical-stage biotech reported a second quarter adjusted EPS loss of -$0.56, which was $0.07 better than analyst estimates of -$0.63. Revenue for the quarter came in at $100,000. The company’s net loss expanded to $24.8 million compared to $16.4 million in the same quarter last year, driven by increased research and development expenses, which rose to $22.2 million from $15.0 million YoY.
"We are executing effectively across our portfolio, with each program nearing important milestones," said Jeffrey Finer, M.D., Ph.D., chief executive officer and co-founder of Septerna.
The company highlighted progress across its pipeline, including its PTH1R agonist program for hypoparathyroidism, which is expected to yield a development candidate in the third quarter of 2025. Septerna is also initiating a Phase 1 clinical trial for SEP-631, its oral small molecule treatment for mast cell-driven diseases, in the third quarter.
Septerna’s cash position stood at $379.2 million as of June 30, 2025. Following receipt of a $195 million upfront payment from Novo Nordisk (NYSE:NVO) in July as part of their recently effective collaboration agreement, the company now expects its cash runway to extend at least into 2029.
The collaboration with Novo Nordisk, which became effective on July 1, focuses on developing oral small molecule therapies for obesity, type 2 diabetes, and other cardiometabolic diseases.
The company also announced the promotion of Chief Operating Officer Liz Bhatt to President, effective August 1, 2025.
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