Septerna (SEPN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Septerna

NasdaqGM•Healthcare•Biotechnology

$36.75-0.05(<0.01%)Market closed

Market Cap

$1.78B

P/S

18.0x

P/B

4.6x

Septerna, Inc., a clinical-stage biotechnology company, discovers and develops G protein-coupled receptor (GPCR) oral small molecule products for the treatment of endocrinology, immunology and inflammation, and metabolic diseases. It develops PTH1R Program, oral small molecule Parathyroid Hormone 1 Receptor agonists for the treatment of hypoparathyroidism; SEP-631, an oral small molecule MRGPRX2 negative allosteric modulator (NAM) for chronic spontaneous urticaria and other mast cell diseases; and TSHR Program, an oral small molecule TSHR NAM for graves' disease and thyroid eye disease. In addition, it focuses on other therapeutic areas, including neurology, women's health, cardiovascular disease, and respiratory disease. It has global collaboration and license agreement with Novo Nordisk to discover, develop and commercialize multiple potential oral small molecule therapies for metabolic-related diseases based on certain specified molecular targets. The company was formerly known as GPCR NewCo, Inc. and changed its name to Septerna Inc. in June 2021. Septerna, Inc. was incorporated in 2019 and is headquartered in South San Francisco, California.

How this company scores

GoodMetricSide Score: 65/100

Strongest: Growth (20/25); weakest: Profitability (14/25).

Profitability14/25

Growth20/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality16/25

Strengths

Growing revenueLong cash runwayInterest easily coveredCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 18.0x5y range 14.4x – 330.4x

Currently below its 5-quarter median.

P/B · 4.6x5y range 0.5x – 4.6x

Currently above its 7-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.78B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $98.88M
Q. Revenue: $26.75M
TTM EBITDA: $-41.90M
TTM Op. Income: $-43.55M
Q. Op. Income: $-16.84M
TTM Net Income: $-24.24M
Q. Net Income: $-13.03M
EPS: $-0.29
Shares Out.: $45.04M

$98.88M in TTM revenue grew 6898.0% YoY, reaching $26.75M last quarter. TTM EBITDA of $-41.90M and TTM operating income of $-43.55M show growth is flowing through to the bottom line. However, net income is negative at $24.24M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 5 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -61.4%
Op. Margin: -62.9%
Net Margin: -48.7%

Op. margin of -62.9% is up 24288.3% YoY — cost efficiency is improving. Net margin at -48.7% Over the past year, operating margin is up 100% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 18.0x
P/B Ratio: 4.6x

P/S of 18.0x and P/B of 4.6x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $566.74M
Cash: $84.66M
Long-Term Debt: N/A
Book Value: $386.72M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-22.18M
TTM Free Cash Flow: $105.10M
FCF Margin: 106.3%
FCF / Net Income: -4.3

TTM FCF of $105.10M on $-22.18M in operating cash flow. The FCF / Net Income ratio of -4.3x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.