Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Chronic spontaneous urticaria (CSU) and other mast cell-driven diseases(Phase 1)
Status note Phase 1 complete (results presented AAAAI Mar 2026). Planned Phase 2b in CSU for H2 2026 deferred; evaluating capital-efficient signal-finding trials in mast cell diseases.
Novo collaboration programs
Preclinical · ActiveModality: small molecule (oral; discovery-stage)
Target GLP-1 / GIP / glucagon receptors and other GPCRs
Partnerships Novo Nordisk (May 2025 Collaboration and License Agreement): exclusive; 4 simultaneous R&D programs; $195M upfront; up to ~$498M/R&D Program milestones; mid-to-high single-digit tiered royalties; Novo funds all post-development-candidate work
Indications
Obesity, type 2 diabetes and related metabolic diseases(Preclinical)
Status note First development candidate delivered to Novo Jul 2026; four simultaneous R&D programs across five GPCRs.
SEP-786
Phase 1 · TerminatedModality: small molecule (oral; PTH1R agonist)
Target PTH1R
Indications
Hypoparathyroidism(Phase 1)
Status note Discontinued Feb 2025 after two severe (Grade 3) unconjugated bilirubin events in MAD portion; later identified as potent UGT1A1 inhibitor. Superseded by SEP-479.
Per-asset detail extracted from the 10-Q filed 2026-08-10. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
Get the weekly biotech catalyst rundown. Cash runways, financings, and trial readouts for all 714 stocks.