Earnings ·
Reports Q3 net loss of $26.4M and highlights clinical progress for GlyphAllo and GlyphAgo
SPTXSeaport Therapeutics, Inc.
Seaport Therapeutics reported a third-quarter net loss of $26.4 million, compared to $22.5 million in the prior-year period, driven by higher research and development expenses of $23.9 million as it advances its Phase 2b BUOY-1 trial for GlyphAllo in major depressive disorder. The company also dosed the first patient in a Phase 2a proof-of-pharmacology trial for GlyphAgo in patients with generalized anxiety disorder and sleep disturbance, while maintaining a cash position of $403.8 million expected to fund operations through 2029. Seaport Therapeutics is a clinical-stage therapeutics company focused on inventing and developing novel neuropsychiatric medicines.