Seaport Therapeutics, Inc. (Nasdaq: SPTX) announced its financial results for the third quarter of 2026 and provided updates on its clinical development programs. The company reported a net loss of $26.4 million for the quarter ended September 30, 2026, compared to a net loss of $22.5 million in the same period of the previous year.
As of September 30, 2026, Seaport reported cash, cash equivalents, and investments totaling $403.8 million. The company stated that this cash balance is expected to fund operations into 2029, covering three mid-to-late-stage data readouts.
In terms of clinical progress, Seaport highlighted positive topline data from a Phase 1 driving simulation trial of its candidate GlyphAllo (SPT-300). The randomized, double-blind, placebo-controlled trial evaluated the impact of multiple dose levels of GlyphAllo on simulated driving performance in healthy volunteers. The trial met its primary endpoint, showing that evening dosing of GlyphAllo at 375 mg did not impair next-morning driving performance compared to placebo on Day 5, following multiple-day dosing. The key secondary endpoint was also met, showing that a single evening dose of 250 mg did not impair next-morning driving performance compared to placebo on Day 2. GlyphAllo was well-tolerated, with no serious adverse events reported. The company plans to submit these results to the U.S. Food and Drug Administration.
Enrollment in the Phase 2b BUOY-1 trial of GlyphAllo for major depressive disorder (MDD) is on track, with topline data expected in the first half of 2027. Additionally, Seaport dosed the first patient in a Phase 2a proof-of-pharmacology trial of GlyphAgo (SPT-320) for patients with generalized anxiety disorder (GAD) and sleep disturbance. The company expects to initiate a Phase 2/3 trial of GlyphAgo in GAD in the first half of 2027, with topline data anticipated by the end of 2028.
