Seaport Therapeutics reports Q2 2026 results, cites GlyphAgo Phase 1 win and IPO close
The company said cash of $427.3 million should fund operations into 2029 as it advances GlyphAllo and GlyphAgo through mid-stage trials.
Seaport Therapeutics reported second quarter 2026 results and pipeline updates on August 3, 2026. Chief Executive Officer Daphne Zohar said the quarter was marked by two major milestones: positive results from the Phase 1 proof-of-concept trial of GlyphAgo and the completion of the company's IPO.1
On GlyphAllo (SPT-300) for major depressive disorder, the company is actively enrolling patients in BUOY-1, a two-arm, global, randomized, double-blind, placebo-controlled, potentially registration-enabling Phase 2b trial in MDD with or without anxious distress, with topline data expected in the first half of 2027.1 Separately, a Phase 1 driving simulation trial evaluating GlyphAllo's effect on simulated driving performance in healthy volunteers is expected to report topline data in the second half of 2026, ahead of the BUOY-1 readout.1
For GlyphAgo (SPT-320) in generalized anxiety disorder, the head-to-head crossover portion of the Phase 1 trial showed a statistically significant 6.8-fold increase in bioavailability versus unmodified agomelatine, exceeding the program's two-fold target, along with 10-fold lower pharmacokinetic variability.1 The multiple-ascending dose portion showed that seven-day dosing achieved therapeutic exposures at doses projected to avoid liver enzyme elevations and reduce or eliminate routine liver function testing.1 Across all dose levels, GlyphAgo was well tolerated with no serious or severe adverse events and no liver-related safety signals.1 The company plans a Phase 2a trial in the second half of 2026 with topline data expected in early 2028,1 and a Phase 2b GAD trial in the first half of 2027 with topline data expected by year-end 2028.1
The preclinical Glyph2BLSD program is expected to complete first-in-human-enabling studies by year-end 2027.1
In May 2026 the company closed an upsized IPO raising $260.0 million in gross proceeds.1 Cash, cash equivalents, and investments totaled $427.3 million as of June 30, 2026, which the company said should support operations into 2029.1
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