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Septerna Q3 revenue falls 12% and misses estimates

By Reuters News


Overview

  • US biotechnology firm's Q3 revenue fell and missed analyst expectations

  • Company posted Q3 net loss, reversing prior-year profit as R&D expenses rose

  • Septerna ended Q3 with $565.2 mln in cash, expects runway into mid-2029


Outlook

  • Company expects Phase 1 SEP-479 trial data in Q1 2027

  • Septerna plans to initiate Phase 1 trial for SEP-204 in Q1 2027

  • Company expects cash runway to fund operations at least into mid-2029


Result Drivers

  • R&D SPENDING - Co said higher research and development expenses contributed to increased net loss in Q3

  • NOVO COLLABORATION - Q3 revenue included $5.2 mln from research milestones and $11.0 mln for research services under Novo Nordisk collaboration


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$18.88 mln

$20.78 mln (10 Analysts)

Q3 Loss Per Share

$0.57

Q3 Net Loss

$26.59 mln

Q3 Income From Operations

-$27.23 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Septerna, Inc. is $60.00, about 22.8% above its November 6 closing price of $48.85


Reuters Recommended Reads

  • Nov 9 - Ionis Pharmaceuticals Q3 revenue rises 55%

  • Nov 7 - Trial failures of Novartis, Novo Nordisk heart drugs leave experts guessing

  • Nov 9 - Biopharma Almirall 9M sales rise on European dermatology growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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