---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-216723"
form_type: "8-K"
ticker: "SEPN"
cik: "0001984086"
company_name: "Septerna, Inc."
filed_at: "2026-05-11T20:05:14+00:00"
generated_at: "2026-05-11T22:53:35.214230+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Septerna reports Q1 net loss $8.6M; cash $522M; positive Phase 1 data for SEP-631

## Summary
- Revenue from Novo Nordisk collaboration $26.5M; net loss improved to $8.6M from $21.5M YoY.
- Cash $522.1M as of March 31, 2026; expected runway into 2029.
- SEP-631 Phase 1 positive: well tolerated, supports once-daily dosing; Phase 2b in CSU planned H2 2026.
- SEP-479 Phase 1 trial for hypoparathyroidism initiated; data expected late 2026/early 2027.
- CMO Jae Kim departing; successor search initiated; will serve advisory role during transition.

## SEC filing metadata
- accession: 0001193125-26-216723
- form_type: 8-K
- ticker: SEPN
- cik: 0001984086
- company_name: Septerna, Inc.
- filed_at: 2026-05-11T20:05:14+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1984086/000119312526216723/0001193125-26-216723-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1984086/000119312526216723/sepn-20260511.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-216723
- JSON: https://secwatch.observer/filing/0001193125-26-216723.json
- Plain text: https://secwatch.observer/filing/0001193125-26-216723.txt

## Key facts
- Earnings Releases
  Septerna, Inc. reported first quarter ended March 31, 2026 results: revenue $26.5 million, net income $8.6 million.
  - Period: first quarter ended March 31, 2026
  - Revenue: $26.5 million
  - Net income: $8.6 million
  - Result: reported results
  source text: $522.1 million as of March 31, 2026. Septerna expects its existing cash runway to fund operations at least into 2029. o Revenue: Revenue from the Novo Nordisk collaboration was $26.5 million for the quarter ended March 31, 2026, compared to $0.2 million from Vertex for the quarter ended March 31, 2025. Revenue for the quarter ended March 31, 2026 included the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1984086/000119312526216723/0001193125-26-216723-index.htm

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