{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-028247","form_type":"8-K","ticker":"SEPN","cik":"0001984086","company_name":"Septerna, Inc.","filed_at":"2025-02-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.716719+00:00","generated_at":"2026-05-26T17:41:34.530618+00:00","sec_items":["7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Septerna discontinues SEP-786 Phase 1 trial after bilirubin events; plans next-gen PTH1R agonist","bullets":["Discontinued SEP-786 Phase 1 trial due to two Grade 3 unconjugated bilirubin events without ALT/AST elevation; no SAEs or liver injury.","Multiple next-generation oral PTH1R agonists in portfolio; candidate selection and clinic entry expected later in 2025.","Cash, cash equivalents, and marketable securities $137.5M as of Sep 30, 2024; plus $302.6M from Oct IPO; runway into H2 2027.","Also advancing SEP-631 (MRGPRX2 negative allosteric modulator) for mast cell diseases; clinical initiation planned later in 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-028247","json":"https://secwatch.observer/filing/0001193125-25-028247.json","markdown":"https://secwatch.observer/filing/0001193125-25-028247.md","text":"https://secwatch.observer/filing/0001193125-25-028247.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1984086/000119312525028247/0001193125-25-028247-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1984086/000119312525028247/d934523d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T17:41:34.530618+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}