Seaport Therapeutics is like **Keurig for existing drugs**. They take clinically proven drug compounds that are effective but have poor oral delivery or significant side effects, and use their proprietary 'Glyph' platform to re-engineer them into convenient, highly effective oral medicines.

Seaport Therapeutics is like **Waze for drug delivery**. They use their proprietary 'Glyph' platform to find optimal pathways, bypassing metabolic 'traffic' (first-pass metabolism) to deliver clinically proven drugs much more effectively and with fewer side effects as oral medicines.

• GlyphAllo™ (SPT-300): A novel, Glyphed oral prodrug of allopregnanolone designed to treat major depressive disorder (MDD), including postpartum depression (PPD), with rapid and durable efficacy.
• GlyphAgo™ (SPT-320): A novel, Glyphed oral prodrug of agomelatine intended for the treatment of generalized anxiety disorder (GAD) and major depressive disorder (MDD).
• Glyph2BLSD™ (SPT-348): A novel, Glyphed oral prodrug of the non-hallucinogenic LSD analog 2-bromo-LSD, currently in preclinical studies for depressive disorders, PTSD, and headache disorders.

Seaport Therapeutics (SPTX) is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety, and other neuropsychiatric disorders. As a company in the research and development phase, Seaport Therapeutics is currently engaged in clinical trials for its product candidates (e.g., GlyphAllo, GlyphAgo, Glyph2BLSD) and does not have any approved products for sale on the market.

Therefore, Seaport Therapeutics does not currently have major customers, either other companies or individuals, as it is still in the drug development phase and not yet commercializing any products.

Daphne Zohar, Founder, Chief Executive Officer and Board Member

Daphne Zohar is the Founder, CEO, and Board Member of Seaport Therapeutics. She was previously the Founder, CEO, and Board Member of PureTech Health. She also co-founded PureTech's entities, including Karuna Therapeutics, which developed the antipsychotic drug Cobenfy (KarXT). Karuna Therapeutics was acquired by Bristol Myers Squibb for $14 billion following the FDA approval of Cobenfy. She has been recognized as one of the most influential people in Biopharma in 2023.

Lauren White, Chief Financial Officer

Lauren White is the Chief Financial Officer at Seaport Therapeutics. She brings over 22 years of expertise in corporate finance, accounting, strategic partnering, and investor relations. Prior to Seaport, she served as the Chief Financial Officer at ImmunoGen (NASDAQ: IMGN) before its acquisition by AbbVie (NYSE: ABBV) for $10.1 billion in 2024. In this role, she was a key member of the internal deal team during the M&A process. Before ImmunoGen, Ms. White was the Chief Financial Officer, Treasurer, and Principal Accounting Officer at C4 Therapeutics (NASDAQ: CCCC).

Antony Loebel, M.D., Chief Medical Officer and President of Clinical Development

Antony Loebel is the Chief Medical Officer and President of Clinical Development at Seaport Therapeutics. He previously served as the President and Chief Executive Officer of Sunovion Pharmaceuticals, a global pharmaceutical company focused on CNS drug development and commercialization, from 2019 to 2023. Before that, he was Sunovion's Chief Medical Officer from 2011 to 2019. Dr. Loebel was instrumental in the growth of Sunovion and the development and commercialization of LATUDA®.

Michael Chen, Ph.D., Co-founder and Chief Scientific Officer

Michael Chen is the Co-founder and Chief Scientific Officer of Seaport Therapeutics. In his most recent role, he was the Head of Innovation at PureTech Health, where he oversaw the advancement of neuropsychiatric medicines that led to the launch of Seaport Therapeutics.

Lana Gladstein, J.D., General Counsel

Lana Gladstein is the General Counsel at Seaport Therapeutics. She possesses over two decades of legal experience, encompassing corporate governance, M&A transactions, licensing, and intellectual property matters. Her previous roles include Chief Legal Officer at Recipharm (Americas), Chief Legal Officer and General Counsel at Arranta Bio (acquired by Recipharm), and Executive Vice President, General Counsel, and Officer at Brammer Bio (acquired by Thermo Fisher for $1.7 billion).

The key risks to Seaport Therapeutics' business include:

1. Clinical Trial Failure: Seaport Therapeutics is a clinical-stage company, and the success of its business is highly dependent on the successful outcome of its ongoing and future clinical trials for lead product candidates like GlyphAllo™ (SPT-300) and GlyphAgo™ (SPT-320). The company explicitly states that the advancement of novel therapies has been limited by "high clinical development failure rates". Despite promising early-stage results and proof-of-concept data, there is no guarantee that later-stage trials, such as the Phase 2b BUOY-1 trial for GlyphAllo or the planned Phase 2a and Phase 2b trials for GlyphAgo, will demonstrate sufficient efficacy, safety, or meet their primary endpoints. Failures or significant delays in these trials would severely impact the company's ability to bring products to market.

2. Regulatory Approval Risk: Even if Seaport Therapeutics' product candidates demonstrate positive results in clinical trials, they still face significant hurdles in obtaining regulatory approvals from health authorities like the FDA. The regulatory process is rigorous, lengthy, and uncertain, and there is no assurance that any of the company's candidates will receive the necessary approvals. Regulatory bodies may require additional studies, identify unforeseen safety concerns, or determine that the data do not sufficiently support approval, which could prevent or delay market entry.

3. Intellectual Property Protection and Competition: Seaport Therapeutics relies on its proprietary Glyph™ platform to create "new composition of matter intellectual property" by "Glyphing" clinically validated mechanisms. The strength, scope, and enforceability of this intellectual property are crucial for the company's long-term success. Challenges to their patents, the inability to obtain new patent protection, or the development of competing therapies by other pharmaceutical companies could undermine their market position. The neuropsychiatric disorder market is competitive, and while their approach aims to overcome limitations of existing treatments, competitors may develop alternative or superior therapies, or similar approaches to enhance existing drugs.

Expected Drivers of Future Revenue Growth for Seaport Therapeutics (SPTX)

• Advancement and potential commercialization of GlyphAllo™ (SPT-300): The anticipated topline data from the Phase 2b BUOY-1 trial in patients with Major Depressive Disorder (MDD) with or without anxious distress in the first half of 2027 represents a critical milestone. Positive results would significantly propel this lead product candidate closer to later-stage development, regulatory submission, and potential market entry, driving future revenue growth.
• Progression and potential commercialization of GlyphAgo™ (SPT-320): Seaport Therapeutics plans to initiate a Phase 2a proof-of-pharmacology trial with topline data expected in early 2028, and a Phase 2b trial in patients with Generalized Anxiety Disorder (GAD) with topline data expected by the end of 2028. The successful progression and positive data from these trials are key steps towards validating GlyphAgo's potential as a novel anxiolytic and antidepressant, paving the way for future revenue generation.
• Expansion of the pipeline with Glyph2BLSD™ (SPT-348): The continued advancement of Glyph2BLSD™ (SPT-348) through preclinical studies for depressive disorders, including treatment-resistant depression (TRD) and post-traumatic stress disorder (PTSD), as well as headache disorders, represents a strategic pipeline expansion. Moving this candidate towards clinical trials within the next 2-3 years would further diversify the company's portfolio and establish additional long-term revenue opportunities.