0001193125-26-098507
SEC filingSepterna, Inc. reported a net loss of $48.9 million for fiscal year 2025, driven by significant operating expenses of $114.2 million that substantially exceeded its revenue of $46.0 million. The company's loss from operations was $68.3 million, partially offset by $19.4 million in other income, primarily from interest income of $19.5 million. Septerna maintains a strong liquidity position with $120.7 million in cash and cash equivalents and $270.4 million in marketable securities, resulting in total current assets of $411.0 million. The company's balance sheet shows total assets of $596.2 million against total liabilities of $214.3 million, with stockholders' equity of $381.9 million. Cash flow from operations was positive at $110.2 million, largely due to a $168.2 million increase in contract liabilities, while investing activities used $229.4 million primarily for purchases of marketable securities.
Septerna, Inc. reported fiscal year 2025 results with $46.0 million in revenue and a net loss of $48.9 million. The company's operating performance showed a loss from operations of $68.3 million, as operating expenses of $114.2 million (comprising $97.6 million in research and development and $29.2 million in general and administrative expenses) significantly exceeded revenue. This operating loss was partially mitigated by $19.4 million in other income, primarily from $19.5 million in interest income. The company reported a comprehensive loss of $48.3 million, which includes a $561,000 net unrealized gain on marketable securities. Basic and diluted net loss per share were both -$1, based on 44.3 million weighted-average shares outstanding.
The filing reports total revenue of $46.0 million for fiscal year 2025. No segment breakdown, geographic mix, or specific growth drivers are disclosed in the provided data. The company's revenue generation appears to be from its core operations, though the specific sources are not detailed in the available information. The absence of segment data suggests the company may operate as a single reporting segment or that segment information is not required to be disclosed based on its current operations.
Septerna's financial results show significant operating losses, with operating expenses of $114.2 million exceeding revenue of $46.0 million by $68.3 million. The company's cost structure is heavily weighted toward research and development, which accounted for $97.6 million (85.5% of total operating expenses), while general and administrative expenses were $29.2 million (25.6% of total operating expenses). The company reported a gain on sale of non-financial asset of $12.5 million, which reduced the total operating expenses from what would have been $126.7 million to the reported $114.2 million. No gross margin or operating margin percentages are disclosed in the provided data.
Septerna generated $110.2 million in net cash from operating activities, primarily driven by a $168.2 million increase in contract with customer liability. The company used $229.4 million in investing activities, with $450.9 million in purchases of available-for-sale marketable securities partially offset by $209.6 million in maturities and $12.5 million in proceeds from sale of non-financial asset. Financing activities provided $1.7 million, mainly from stock option exercises and employee stock purchases. The balance sheet shows strong liquidity with $120.7 million in cash and cash equivalents, $270.4 million in marketable securities, and total current assets of $411.0 million. Total assets were $596.2 million, with total liabilities of $214.3 million and stockholders' equity of $381.9 million.
The provided data does not include management guidance, strategic priorities, or specific risk factors from the filing. The company's financial position appears stable with substantial cash and marketable securities, though the significant operating losses and high research and development spending suggest the company is in a growth or development phase. The increase in deferred revenue ($62.3 million current and $105.9 million non-current) indicates future revenue obligations, while the accumulated deficit of $167.3 million reflects historical losses. No forward-looking statements or specific strategic initiatives are detailed in the available financial data.