Boston — Seaport Therapeutics, Inc. said it reported first-quarter 2026 financial results and highlighted recent clinical and corporate progress, including new Phase 1 data for GlyphAgo and continued enrollment in a Phase 2b trial of GlyphAllo.
The clinical-stage therapeutics company, which is developing neuropsychiatric medicines, said new multiple-ascending dose data from a Phase 1 proof-of-concept trial of GlyphAgo further showed the program can achieve therapeutic exposures of agomelatine at doses projected to avoid liver enzyme elevations and reduce or eliminate the need for liver function testing.
“The first quarter of 2026 was filled with meaningful progress for Seaport, and we significantly advanced the clinical development of our lead GlyphAlloTM and GlyphAgoTM programs,” said Daphne Zohar, Co-Founder and Chief Executive Officer at Seaport Therapeutics. “We previously reported data from the single-ascending dose and crossover portions of the Phase 1 proof-of-concept trial of GlyphAgoTM, which we believe substantially derisk future clinical development of the program. Today, we announced new multiple-ascending dose data from this trial, which further reinforce the ability of GlyphAgoTM to achieve therapeutic exposures of agomelatine at doses projected to avoid liver enzyme elevations. We continue to progress our potentially registration-enabling Phase 2b BUOY-1 trial of GlyphAlloTM and anticipate topline data from that trial in the first half of next year. With a pipeline of novel programs based on clinically validated mechanisms, an experienced team with a track record of success in neuropsychiatry, and a strong balance sheet bolstered by our recent IPO, we look forward to executing on our mission to transform the treatment of neuropsychiatric disorders and improve patients’ lives.”
Seaport said enrollment remains on track in BUOY-1, a global, randomized, double-blind, placebo-controlled Phase 2b trial evaluating GlyphAllo in patients with major depressive disorder, with or without anxious distress. Topline data are expected in the first half of 2027.
The company said it plans to enroll the full prespecified target sample size of about 360 patients and no longer intends to perform a sample size re-estimation.
Seaport also said it dosed the first participant in a Phase 1 driving simulation trial of GlyphAllo. The randomized, double-blind, placebo-controlled study is evaluating the potential impact of multiple dose levels of GlyphAllo on simulated driving performance in healthy volunteers. Topline data from that trial are expected in the second half of 2026.
The company said Phase 1, Phase 2a and preclinical data for GlyphAllo were published in Science Translational Medicine. According to Seaport, the data showed GlyphAllo was generally well-tolerated following single- and multiple-ascending oral doses, produced dose-dependent plasma exposures of allopregnanolone, demonstrated pharmacodynamic effects in the brain and blunted the acute physiological stress response in a clinical model of anxiety.
For GlyphAgo, Seaport said seven-day dosing achieved therapeutic exposures of agomelatine at doses projected to avoid liver enzyme elevations. Repeat dosing confirmed favorable safety, tolerability and pharmacokinetics across the Phase 1 program, with no serious or liver-related adverse events observed.
The company said results support dose selection and planned advancement into two parallel Phase 2 trials in patients with generalized anxiety disorder. Seaport expects to begin a Phase 2a proof-of-pharmacology trial in the second half of 2026, with topline data expected in early 2028. A Phase 2b trial in generalized anxiety disorder is expected to begin in the first half of 2027, with topline data expected by year-end 2028.
Seaport said its Glyph2BLSD program remains on track, with completion of first-in-human-enabling studies expected by year-end 2027. The company is developing the program for depressive disorders, including treatment-resistant depression, post-traumatic stress disorder and headache disorders.
The company also said Seaport and the Monash Institute of Pharmaceutical Sciences were awarded up to $15 million from the Advanced Research Projects Agency for Health to support development of GlyphCele, also known as Cele-Pro, an oral prodrug designed to address dysfunctional gut lymphatics and local inflammation linked to metabolic disease and pancreatic cancer.
In corporate updates, Seaport said it completed an upsized initial public offering in May 2026, raising $260 million in gross proceeds. The company also appointed Sharon Mates, Ph.D., to its Board of Directors. Mates was Co-Founder, Chairman and Chief Executive Officer of Intra-Cellular Therapies until its acquisition by Johnson & Johnson for $14.6 billion in 2025.
For the first quarter, Seaport reported cash, cash equivalents and investments of $212.6 million as of March 31, 2026. The company said its current cash, cash equivalents and investments, including IPO proceeds, are expected to fund operations into 2029.
Research and development expenses were $21.4 million for the quarter ended March 31, 2026, compared with $10.5 million a year earlier. General and administrative expenses were $6.1 million, compared with $5.7 million a year earlier. Net loss was $25.4 million, compared with a net loss of $13.1 million for the first quarter of 2025.
