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Septerna, Inc. (SEPN)

Nasdaq: SEPN · Pharmaceutical Preparations · South San Francisco, CA · filing with the SEC since 2023
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Grade6.6
◀ Past 7.1● Present 6.3▶ Future 6.4
2 est.
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The grade of Septerna, Inc.

Nine metrics read from its own filings, by tense
Headline grade
6.6/10
◀ Past7.130% of the headline
● Present6.340% of the headline
▶ Future6.430% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

7.1/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
8.2/10

Has it survived what it has been through?

No warning events in its filings since 2023.

weight 33% of this tense · 82nd percentile among 497 sector filers · read for itself

From the record

Septerna, Inc.'s filings since 2023 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
9.1/10

What has it actually done, year after year?

+1641% a year over 3 filed years; profitable in 1 of 3.

weight 45% of this tense · 91st percentile among 323 sector filers · read for its customers

From the record

Septerna, Inc.'s 3 filed years say what it did: revenue went from $151 thousand in fiscal 2023 to $46 million in fiscal 2025, up 1641% a year; it rose in 2 of 2 years; it never fell from a peak; net income was positive in 1 of 3 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span1641.0%top 1% of its family
  • the share of years revenue rosetop 8% of its family
  • the share of filed years with a profittop 19% of its family
  • the deepest fall from a revenue peak0.0%top 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
1.5/10

How has it treated the people who own it?

Share count grew 350.4% a year. 0% of cash flow returned. Insiders: 27 sales, 0 purchases.

weight 22% of this tense · 15th percentile among 80 sector filers · read for its shareholders

From the record

Over the 2 fiscal years to 2025-12-31, Septerna, Inc.'s diluted share count grew about 350.4% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 27 sales (24 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-10-19 (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 9% of its family
  • cash returned against operating cash flowbottom 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.3/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
4.7/10

Is it financially healthy right now?

ROE -13%: lost 13¢ per shareholder dollar. Leverage 36%: owes 36¢ per asset dollar.

weight 45% of this tense · 47th percentile among 473 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Septerna, Inc. lost about 13 cents for every dollar of shareholders' money. Leverage: it owed about 36 cents per dollar of assets, and net share issuance: its share count grew 347.5% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 48% of its family
  • return on equitytop 22% of its family
  • the share count against the year beforebottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
6.9/10

How strong is its position in its industry?

top 31% of 315 in its family; net margin -106.4%.

weight 33% of this tense · 69th percentile among 315 sector filers · read for its customers

From the record

Septerna, Inc.'s standing among 315 graded names in its industry family: revenue of $46 million in fiscal 2025 ranks in the top 45% by size; a net margin of -106.4% ranks in the top 47%; revenue growth of 1641% a year over the last 2 filed years ranks in the top 1% (its annual reports).

What it rests on

  • revenue against the family$46.0Mtop 45% of its family
  • net margin-106.4%top 47% of its family
  • three-year revenue growth1641.0%top 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
8.7/10

What are the people in charge doing?

SI estimate 8.7/10, confidence 35 of 100 (one part).

weight 22% of this tense · 87th percentile among 415 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 13% of 415 in its family; the record of its people begins on 2024-10-24 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.1 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read
The record of its people begins on 2024-10-24 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.1 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 415 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Septerna, Inc.'s leadership is put at 8.7 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 13% of 415 in its family; the record of its people begins on 2024-10-24 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.1 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.4/1030% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

as filed
6.7/10

How much room does it have to grow?

top 33% of 273 in its family for room to expand.

weight 45% of this tense · 67th percentile among 273 sector filers · read for itself

From the record

Septerna, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $121 million against no long-term debt tagged leaves 20.2% of its assets as net cash, bottom 41% of its family; cash from operations less capital spending is 238.7% of revenue (top 1%); research spending of 212.4% of revenue (top 40%) (its annual report).

What it rests on

  • cash less debt against assets20.2%bottom 41% of its family
  • cash from operations less capital spending against revenue238.7%top 1% of its family
  • research spending against revenue212.4%top 40% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
6.7/10

What could actually drive growth from here?

top 33% of 306 in its family for growth drivers.

weight 33% of this tense · 67th percentile among 306 sector filers · read for its customers

From the record

Septerna, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 1641% a year over the last three filed years against 1641% over all 3, speeding up (top 40% of its family); the newest year grew 4185.5% (top 2%); research spending grew 64.6% a year (top 5%); capital spending grew -57.6% a year (bottom 15%) (its annual reports). Septerna, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+0.0 points a yeartop 40% of its family
  • the newest year's revenue growth4185.5%top 2% of its family
  • three-year growth of research spending64.6%top 5% of its family
  • three-year growth of capital spending-57.6%bottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate
5.3/10

Did its newest year beat what its own record pointed to?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 234 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 234 members with one.
What the record cannot read
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned
family median, 234 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Septerna, Inc.'s expectations vs reality is put at 5.3 of 10 with a confidence of 20 of 100, because the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 234 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton SEPN · research, not advice