Neuropsychiatric drug developer Seaport files for U.S. IPO

Worawith Ounpeng

Seaport Therapeutics (SPTX [https://seekingalpha.com/symbol/SPTX]), a clinical-stage biotech focused on developing drugs for neuropsychiatric diseases such as depression, has submitted regulatory filings to the SEC for its initial public offering in the U.S.

Founded by biotech veteran Daphne Zohar in 2024, Seaport (SPTX [https://seekingalpha.com/symbol/SPTX]) seeks to list on the Nasdaq Global Market under the symbol “SPTX,” with plans to use IPO proceeds for multiple operational activities, including R&D work related to its lead asset, GlyphAllo.

GlyphAllo, an oral prodrug of the naturally occurring stress-reducing agent allopregnanolone, is currently undergoing a Phase 2 trial called BUOY-1 for major depressive disorder, with its topline results expected in H1 2027.

Zohar, who serves as the CEO and a board member of the Boston, Massachusetts-based firm, is a founder of PureTech (PRTC [https://seekingalpha.com/symbol/PRTC]), which holds roughly a 43% stake in the company. PureTech (PRTC [https://seekingalpha.com/symbol/PRTC])-founded Karuna Therapeutics was acquired by Bristol Myers Squibb (BMY [https://seekingalpha.com/symbol/BMY]) for $14B in 2024.

With no commercialized products, Seaport (SPTX [https://seekingalpha.com/symbol/SPTX]) has yet to turn a profit since its inception. As of Dec. 31, 2025, the company had an accumulated deficit of [https://www.sec.gov/Archives/edgar/data/2042347/000119312526151211/d73463ds1.htm#fin73463_3] $114.1M, and its net loss in 2025 rose ~60% YoY to $74.9M.

MORE ON SEAPORT THERAPEUTICS, INC.

* Financial information for Seaport Therapeutics, Inc. [https://seekingalpha.com/symbol/SPTX/income-statement]