Septerna, Inc.

SOUTH SAN FRANCISCO, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Septerna, Inc. (Nasdaq: SEPN), a clinical-stage biotechnology company pioneering a new era of G protein-coupled receptor (GPCR) oral small molecule drug discovery, today announced the closing of its upsized initial public offering (IPO) of 18,400,000 shares of its common stock at a public offering price of $18.00 per share, which includes an additional 2,400,000 shares issued upon the full exercise by the underwriters of their option to purchase additional shares. All of the shares were offered by Septerna. The aggregate gross proceeds to Septerna from the IPO were $331.2 million, before deducting underwriting discounts and commissions and other offering expenses. The shares began trading on the Nasdaq Global Market on October 25, 2024, under the ticker symbol “SEPN.” J.P. Morgan, TD Cowen, Cantor and Wells Fargo Securities acted as joint bookrunners for the offering. A registration statement relating to the shares sold in the initial public offering has been filed with the Securities and Exchange Commission and was declared effective on October 24, 2024. The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York 10017, by telephone at (855) 495-9846 or by email at TD.ECM_Prospectus@tdsecurities.com; Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@cantor.com; and Wells Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis, Minnesota 55402, by telephone at (800) 645-3751 (option #5) or by email at WFScustomerservice@wellsfargo.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About SepternaSepterna, Inc. is a clinical-stage biotechnology company pioneering a new era of GPCR oral small molecule drug discovery powered by its proprietary Native Complex Platform™. Its industrial-scale platform aims to unlock the full potential of GPCR therapies and has led to the discovery and development of its deep pipeline of product candidates focused initially on treating patients in three therapeutic areas: endocrinology, immunology and inflammation, and metabolic diseases. Septerna was launched by preeminent drug discovery company builders and scientific leaders in the biochemistry, structural biology, and pharmacology of GPCRs. Investor ContactsMonique Allaire, THRUST monique@thrustsc.com Renee Leck, THRUST renee@thrustsc.com Media ContactCarly Scaduto carly@carlyscadutoconsulting.com

Nascent clinical biotech Septerna added to the slight uptick in IPO fervor this fall with its $288 million Nasdaq listing on Friday. Investors seemed enthused by the prospects of the GPCR biotech. They ate up five million additional shares than Septerna had originally planned to sell in the IPO, and the Bay Area startup priced its public debut at $18 per share $SEPN , or $1 above the high end of the $15 to $17 range it marketed to investors this week. It landed a valuation of about $743 million based on its number of outstanding shares. The drug developer entered the clinic just last month with a Phase 1 healthy volunteer study of SEP-786 in Australia. It anticipates data in mid-2025 and will then move to additional studies in the US, Canada, Europe and other places, according to the company’s IPO filings. Septerna seeks to be the first to create an oral medicine for patients with hypoparathyroidism, a condition that impacts about 100,000 people in the US and impairs the body’s ability to regulate calcium and phosphorus levels. The rare condition has been an active area for researchers and drug developers in recent years. Takeda pulled its drug Natpara from the market, Ascendis Pharma snagged an FDA approval for Yorvipath this summer, and AstraZeneca bought a Phase 3 biotech for up to $1.05 billion this spring. MBX Biosciences, meanwhile, went public last month while in Phase 2 with its candidate. The 68-employee biotech also plans to enter the clinic with another oral small molecule for an inflammatory skin disease known as chronic spontaneous urticaria. Beyond that, Septerna has ambitions to make GPCR medicines for type 2 diabetes and obesity, which has become a hot area for nearly every large pharma and a whole new crop of biotechs thanks to the success of GLP-1 drugs. The biotech drew back the curtains in 2022 based on Nobel Prize-winning work out of GPCR pioneer Robert Lefkowitz. It secured $100 million for that launch round and then came back with a $150 million Series B a year later. Its biggest investors — all owning 5% or more — are Third Rock Ventures, Samsara BioCapital, RA Capital, Deep Track, Invus, BVF and Goldman Sachs’ West Street Life Sciences. At the end of June, Septerna had $143 million in working capital, according to its IPO paperwork.

SOUTH SAN FRANCISCO, Calif., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Septerna, Inc. (Nasdaq: SEPN), a clinical-stage biotechnology company pioneering a new era of G protein-coupled receptor (GPCR) oral small molecule drug discovery, today announced the pricing of its upsized initial public offering of 16,000,000 shares of its common stock at a public offering price of $18.00 per share. In addition, Septerna has granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares are being offered by Septerna, and the common stock is expected to begin trading on the Nasdaq Global Market on October 25, 2024, under the ticker symbol “SEPN.” The gross proceeds from the offering are expected to be $288.0 million, before deducting underwriting discounts and commissions and other offering expenses. The offering is expected to close on October 28, 2024, subject to the satisfaction of customary closing conditions. J.P. Morgan, TD Cowen, Cantor and Wells Fargo Securities are acting as joint bookrunners for the offering. A registration statement relating to the shares sold in the initial public offering has been filed with the Securities and Exchange Commission and was declared effective on October 24, 2024. The offering is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York 10017, by telephone at (855) 495-9846 or by email at TD.ECM_Prospectus@tdsecurities.com; Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@cantor.com; and Wells Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis, Minnesota 55402, by telephone at (800) 645-3751 (option #5) or by email at WFScustomerservice@wellsfargo.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About SepternaSepterna, Inc. is a clinical-stage biotechnology company pioneering a new era of GPCR oral small molecule drug discovery powered by its proprietary Native Complex Platform™. Its industrial-scale platform aims to unlock the full potential of GPCR therapies and has led to the discovery and development of its deep pipeline of product candidates focused initially on treating patients in three therapeutic areas: endocrinology, immunology and inflammation, and metabolic diseases. Septerna was launched by preeminent drug discovery company builders and scientific leaders in the biochemistry, structural biology, and pharmacology of GPCRs. Cautionary Note Regarding Forward-Looking StatementsThis press release includes certain disclosures that contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding Septerna’s expectations regarding the commencement of trading of its shares on the Nasdaq Global Market, the completion and timing of the closing of the offering and the anticipated gross proceeds from the offering. Forward-looking statements are based on Septerna’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to market conditions, the satisfaction of customary closing conditions and the completion of the offering, and the risks inherent in pharmaceutical product development and clinical trials. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” section of the registration statement filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Septerna undertakes no duty to update such information except as required under applicable law. Readers should not rely upon the information on this page as current or accurate after its publication date. Investor ContactsMonique Allaire, THRUST monique@thrustsc.com Renee Leck, THRUST renee@thrustsc.com Media ContactCarly Scaduto carly@carlyscadutoconsulting.com