Reuters: IPOX® Analyst Lukas Muehlbauer on Septerna’s Upsized IPO Targeting $743 Million Valuation
In a recent Reuters article, IPOX® Research Analyst Dr. Lukas Muehlbauer commented on Septerna's upsized U.S. IPO as the Goldman Sachs-backed drug developer targets a valuation of $743.1 million. Septerna, originally planning to offer 10.9 million shares within a $15-$17 range, has now increased its offering to 15.3 million shares, pricing them at $18 each, to raise approximately $275 million. This move reflects positive investor sentiment for biotech IPOs, which have seen strong performances in the U.S. market this fall.
Septerna’s lead candidate, SEP-786, is an oral therapy aimed at treating hypoparathyroidism, a condition that affects calcium regulation in the body. Currently undergoing early-stage trials, the company expects to release data by mid-2025. Dr. Muehlbauer highlighted that Septerna’s diversified pipeline, which targets significant markets such as immunology, metabolic diseases, and obesity, provides the company with multiple avenues for potential success despite being in the early stages of development.
The IPO is part of a broader trend, with recent successful debuts from other biotech firms like Bicara Therapeutics, MBX Biosciences, BioAge Labs, and Upstream Bio, demonstrating sustained investor interest in the healthcare sector. Dr. Muehlbauer noted that while there is enthusiasm for early-stage companies, investors are likely to be selective, focusing on firms with reputable backers and clear commercial prospects.
Septerna’s IPO will be underwritten by J.P. Morgan, TD Cowen, Cantor, and Wells Fargo Securities, and the company will trade on Nasdaq under the ticker "SEPN."
