US Stock Market Move | Septerna (SEPN.US) rose 67% in pre-market trading and will partner with Novo Nordisk A/S Sponsored ADR Class B to develop an oral weight-loss drug.

Novo Nordisk A/S Sponsored ADR Class B (NVO.US) has agreed to collaborate with Septerna (SEPN.US) to jointly develop and commercialize an oral small molecule drug for the treatment of obesity and other cardiovascular metabolic diseases, with a transaction value of up to $2.2 billion. In response to this news, Septerna's stock surged 67% in pre-market trading. Septerna is a clinical-stage biopharmaceutical company focused on developing therapeutic approaches targeting a class of cell membrane receptors known as G protein-coupled receptors (GPCRs), including GLP-1 receptor agonists. As part of the deal, the company will receive over $200 million in upfront payments and near-term milestone payments from Novo Nordisk A/S Sponsored ADR Class B. The total amount paid by Novo Nordisk A/S Sponsored ADR Class B to Septerna could reach $2.2 billion, including upfront payments and research and commercial milestone payments. In addition, Septerna, based in San Francisco, California, will be entitled to tiered royalties based on the global net sales of its marketed products. Both companies have stated that under the terms of the agreement, Novo Nordisk A/S Sponsored ADR Class B will cover all research and development expenses for the collaboration project, including four initial development projects targeting GLP-1, GIP, pancreatic glucagon receptor, and other GPCR targets. The agreement is expected to be completed in the second quarter of 2025.