secwatch.observer — SEC 8-K summary
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Issuer:     Septerna, Inc. (SEPN)
CIK:        0001984086
Form:       8-K
Filed at:   2025-02-18T23:59:59+00:00
Accession:  0001193125-25-028247
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Septerna discontinues SEP-786 Phase 1 trial after bilirubin events; plans next-gen PTH1R agonist
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1984086/000119312525028247/0001193125-25-028247-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1984086/000119312525028247/d934523d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-028247

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer