SOUTH SAN FRANCISCO, Calif., Sept. 10, 2026 (GLOBE NEWSWIRE) -- Septerna, Inc. (Nasdaq: SEPN), today announced that the Company granted a non-qualified stock option to purchase up to 275,000 shares of the Company’s common stock to Rajiv Patni, M.D., the Company’s newly appointed Chief Medical Officer, under the Company’s 2026 Inducement Plan (the “Inducement Plan”). The inducement grant was effective as of September 8, 2026. The award was granted as an inducement material to Dr. Patni’s employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The option has an exercise price of $37.37 per share, which is equal to the closing price of the Company’s common stock on September 8, 2026, the effective date of grant. The option has a ten-year term, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the remaining 75% vesting thereafter in equal monthly installments over 36 months, subject to Dr. Patni’s continuous employment through the applicable vesting dates. The option is subject to the terms and conditions of the Inducement Plan approved by the Company’s Board of Directors in February 2026 and the terms and conditions of award agreements covering the grant.
About Septerna
Septerna, Inc. is a clinical-stage biotechnology company with a world-class team of GPCR experts and drug developers advancing cutting-edge science to unlock the full potential of GPCR therapies for patients with significant unmet needs. The company’s proprietary Native Complex Platform® is designed to enable new approaches to GPCR drug discovery and has led to the development of a diverse pipeline of novel oral small molecule drug candidates. Septerna is advancing programs in endocrinology, immunology and inflammation, metabolic diseases and additional therapeutic areas, both independently and with partners. For more information, please visit www.septerna.com.