Septerna Selects SEP-204 for Graves' Disease, Thyroid Eye Disease; Shares Rise

10:33 AM EST, 11/04/2026 (MT Newswires) -- Septerna (SEPN) said Wednesday it selected SEP-204 as a development candidate for Graves' disease and thyroid eye disease after preclinical studies showed the drug inhibited thyroid-stimulating hormone receptor activation. SEP-204 restored normal thyroid hormone T4 levels and reduced thyroid enlargement and orbital proptosis in Graves' disease animal models. The oral small molecule was generally well tolerated in 28-day toxicology studies in rats and dogs and showed pharmacokinetic properties expected to support once-daily dosing. The company said it plans to begin a phase 1 trial in healthy volunteers in Q1 2027. Shares of Septerna were up nearly 7% in early Wednesday trading. Price: 46.28, Change: +2.58, Percent Change: +5.90