Jason Gerberry
BofA Securities, Research Division

The end of our first day of our Annual Healthcare Conference in a very toasty Las Vegas. I'm very pleased to have join us right now, Jeff Finer of Septerna, who will be providing us with the presentation. Jeff?

Jeffrey Finer
Co-Founder, CEO & Director

Okay. Yes. Thanks, Jason. Thanks for the invitation to present with you guys here. It's good to see a few people still in the room late in the day. I'm going to tell you about Septerna. For those of you who don't know us, we're a company focused entirely on GPCRs or G protein-coupled receptors, and we found a new way to do drug discovery for them. The presentation will include some forward-looking statements.

But just a kind of quick overview of the company. We've got a platform that we call the Native Complex Platform that's allowed us to do drug discovery for GPCRs in a new way. It's allowed us to tackle previously difficult to drug GPCRs. And part of our portfolio strategy in general has been to go after well-validated targets with early clinical readouts. Every one of our programs, the ones we'll talk about today, has a meaningful Phase I readout that is important. We're well capitalized. We announced financial results just from the Q1 last yesterday, and we've got a cash runway into 2029.

A couple of lead programs that we'll talk about today. We'll spend nearly the entire time talking about 2 of the programs. One is SEP-479, which is our parathyroid hormone receptor agonist for hypoparathyroidism. This is one that