---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-064729"
form_type: "8-K"
ticker: "SEPN"
cik: "0001984086"
company_name: "Septerna, Inc."
filed_at: "2025-03-27T23:59:59+00:00"
generated_at: "2026-05-24T04:23:47.350514+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Septerna reports FY2024 net loss of $71.8M, discontinues SEP-786 Phase 1 trial

## Summary
- Discontinued SEP-786 Phase 1 trial after two Grade 3 elevated unconjugated bilirubin events, reversible without liver injury.
- Plans to select a next-generation oral PTH1R agonist candidate by end of 2025 to advance toward clinic.
- SEP-631 MRGPRX2 NAM program on track to initiate Phase 1 trial in 2025 for mast cell diseases.
- Cash, equivalents, and marketable securities $420.8M at Dec 31, 2024; runway into early 2028.
- Appointed Gil Labrucherie as CFO in January 2025; net loss $20.7M in Q4 2024, $71.8M for FY2024.

## SEC filing metadata
- accession: 0001193125-25-064729
- form_type: 8-K
- ticker: SEPN
- cik: 0001984086
- company_name: Septerna, Inc.
- filed_at: 2025-03-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1984086/000119312525064729/0001193125-25-064729-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1984086/000119312525064729/d906388d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-064729
- JSON: https://secwatch.observer/filing/0001193125-25-064729.json
- Plain text: https://secwatch.observer/filing/0001193125-25-064729.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.