Septerna, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 |
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | $46.0M | $1.1M | $151,000 | — |
| Research and development | $97.6M | $65.3M | $36.0M | — |
| Operating expenses | $114.2M | $81.9M | $1.9M | — |
| Operating income | -$68.3M | -$80.8M | $2.1M | — |
| Pretax income | -$48.9M | -$72.3M | -$48.9M | — |
| Income tax expense | $12,000 | -$498,000 | $691,000 | — |
| Net income | -$48.9M | -$71.8M | $4.2M | — |
| Balance Sheet | ||||
| Cash and equivalents | $120.7M | $238.2M | $88.5M | — |
| Current assets | $411.0M | $356.8M | $112.7M | — |
| Total assets | $596.2M | $456.6M | $130.9M | — |
| Current liabilities | $86.9M | $12.8M | $6.9M | — |
| Total liabilities | $214.3M | $36.5M | $20.0M | — |
| Stockholders' equity | $381.9M | $420.0M | -$38.4M | -$44.2M |
| Cash Flow Statement | ||||
| Cash from operations | $110.2M | -$67.5M | -$38.7M | — |
| Depreciation and amortization | $1.6M | $1.4M | $800,000 | — |
| Stock-based compensation | $8.5M | $3.2M | $1.6M | — |
| Capital expenditure | $518,000 | $2.1M | $2.9M | — |
| Free cash flow | $109.7M | -$69.6M | -$41.6M | — |
| Share repurchases | $1,000 | — | — | — |
Shares outstanding 45.1M · Free float 34.6%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.