Septerna, Inc. Files Q3 2024 10-Q
Ticker: SEPN · Form: 10-Q · Filed: Nov 20, 2024 · CIK: 1984086
Sentiment: neutral
Topics: 10-Q, pharmaceuticals, financials
TL;DR
Septerna's Q3 10-Q is in. Financials and key agreements detailed.
AI Summary
Septerna, Inc. filed its 10-Q for the period ending September 30, 2024. The company, focused on pharmaceutical preparations, reported financial data for Q3 2024. Key financial items include retained earnings and various stock and asset classifications. The filing also references agreements with entities like Samsara Biocapital LP and Ra Capital Management LP.
Why It Matters
This filing provides a snapshot of Septerna, Inc.'s financial health and operational status as of the end of the third quarter of 2024, crucial for investors and stakeholders.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Septerna faces inherent risks related to drug development, regulatory approvals, and market competition, which are not fully detailed in this summary but are typical for the industry.
Key Numbers
- Q3 2024 — Reporting Period (The period covered by the 10-Q filing.)
- 2024-09-30 — As of Date (The specific date for which financial data is reported.)
Key Players & Entities
- Septerna, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of reporting period
- Samsara Biocapital LP (company) — Party to a service agreement
- Ra Capital Management LP (company) — Party to a service agreement
- 2834 (industry_code) — Standard Industrial Classification for Pharmaceutical Preparations
FAQ
What is Septerna, Inc.'s Standard Industrial Classification code?
Septerna, Inc.'s Standard Industrial Classification code is 2834, which corresponds to Pharmaceutical Preparations.
What is the fiscal year end for Septerna, Inc.?
Septerna, Inc.'s fiscal year ends on December 31.
Which entities are mentioned in relation to service agreements?
Samsara Biocapital LP and Ra Capital Management LP are mentioned in relation to service agreements.
What is the business address of Septerna, Inc.?
Septerna, Inc.'s business address is 250 East Grand Avenue, Suite 65, South San Francisco, CA 94080.
What is the filing date of this 10-Q report?
This 10-Q report was filed on November 20, 2024.
Filing Stats: 4,459 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-11-20 16:17:25
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share SEPN The Nasdaq Global Ma
Filing Documents
- sepn-20240930.htm (10-Q) — 2898KB
- sepn-ex31_1.htm (EX-31.1) — 17KB
- sepn-ex31_2.htm (EX-31.2) — 17KB
- sepn-ex32_1.htm (EX-32.1) — 16KB
- img117579907_0.jpg (GRAPHIC) — 59KB
- 0000950170-24-129274.txt ( ) — 9189KB
- sepn-20240930.xsd (EX-101.SCH) — 1070KB
- sepn-20240930_htm.xml (XML) — 1462KB
Financial Statements (unaudited)
Financial Statements (unaudited) 1 Condensed Balance Sheets 1 Condensed Statements of Operations and Comprehensive Loss 2 Condensed Statements of Convertible Preferred Stock and Stockholders' Deficit 3 Condensed Statements of Cash Flows 5 Notes to Condensed Financial Statements (unaudited) 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 30 PART II. OTHER INFORMATION 31 Item 1.
Legal Proceedings
Legal Proceedings 31 Item 1A.
Risk Factors
Risk Factors 31 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 94 Item 3. Defaults Upon Senior Securities 94 Item 4. Mine Safety Disclosures 94 Item 5. Other Information 94 Item 6. Exhibits 95
Signatures
Signatures 96 We own various U.S. federal trademark applications and unregistered trademarks, including our company name and logo, that we use in connection with the operation of our business. This Quarterly Report on Form 10-Q (this "Quarterly Report") includes our trademarks and trade names which are protected under applicable intellectual property laws and are our property. This Quarterly Report also contains trademarks, trade names and service marks of other companies, which are the property of their respective owners. Solely for convenience, trademarks, trade names and service marks referred to in this Quarterly Report may appear without the , or SM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent permitted under applicable law, our rights or the right of the applicable licensor to these trademarks, trade names and service marks. We do not intend our use or display of other parties' trademarks, trade names or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by, these other parties. From time to time, we may use our website, our X (formerly known as Twitter) account at Septerna_Inc and our LinkedIn account at https://www.linkedin.com/company/septernainc/ to distribute material information about us and for complying with our disclosure obligations under Regulation FD. Our financial and other material information is routinely posted to and accessible on the Investors section of our website, available at www.Septerna.com. Investors are encouraged to review the Investors section of our website because we may post material information on that site that is not otherwise disseminated by us. Information that is contained in and can be accessed through our website or our social media are not incorporated into, and does not form a part of, this Quarterly Report. i SPECIAL NOTE REGARDING FORWARD-LOOKING STA
—FIN ANCIAL INFORMATION
PART I—FIN ANCIAL INFORMATION Ite m 1. Financial Statements. SEPTERNA, INC. Condensed B alance Sheets (In thousands, except for share and per share data) (Unaudited) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 88,242 $ 88,483 Marketable securities 42,291 — Accounts receivable 210 151 Other receivable related to sale of non-financial asset — 22,625 Prepaid expenses and other current assets 2,668 1,419 Total current assets 133,411 112,678 Marketable securities, non-current 6,979 — Property and equipment, net 5,412 4,665 Operating lease right-of-use asset 24,095 12,522 Restricted cash 905 905 Other non-current assets 3,479 97 Total assets $ 174,281 $ 130,867 Liabilities, Convertible Preferred Stock and Stockholders' Deficit Current liabilities: Accounts payable $ 6,128 $ 2,637 Accrued expenses and other current liabilities 5,987 4,277 Operating lease liability, current 1,116 — Total current liabilities 13,231 6,914 Operating lease liability, non-current 24,110 12,566 Other non-current liabilities 191 546 Total liabilities 37,532 20,026 Commitments and contingencies (Note 5) Convertible preferred stock 224,157 149,215 Stockholders' deficit: Common stock 3 3 Additional paid-in capital 10,119 8,199 Accumulated other comprehensive income 176 — Accumulated deficit ( 97,706 ) ( 46,576 ) Total stockholders' deficit ( 87,408 ) ( 38,374 ) Total liabilities, convertible preferred stock and stockholders' deficit $ 174,281 $ 130,867 The accompanying notes are an integral part of these condensed financial statements. 1 SEPTERNA, INC. Condensed Statements of Op erations and Comprehensive Loss (In thousands, except for share and per share data) (Unaudited) Three Months Ended September 30, Nine Months Ended September 3