<SEC-DOCUMENT>0000938206-25-000026.txt : 20250610
<SEC-HEADER>0000938206-25-000026.hdr.sgml : 20250610
<ACCEPTANCE-DATETIME>20250610105512
ACCESSION NUMBER:		0000938206-25-000026
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250610
DATE AS OF CHANGE:		20250610

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Septerna, Inc.
		CENTRAL INDEX KEY:			0001984086
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				843891440
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-94678
		FILM NUMBER:		251036240

	BUSINESS ADDRESS:	
		STREET 1:		250 EAST GRAND AVENUE, SUITE 65
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
		BUSINESS PHONE:		650-338-3533

	MAIL ADDRESS:	
		STREET 1:		250 EAST GRAND AVENUE, SUITE 65
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DRIEHAUS CAPITAL MANAGEMENT LLC
		CENTRAL INDEX KEY:			0000938206
		ORGANIZATION NAME:           	
		EIN:				203634295
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		25 EAST ERIE ST
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		3125873800

	MAIL ADDRESS:	
		STREET 1:		25 EAST ERIE ST
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DRIEHAUS CAPITAL MANAGEMENT INC
		DATE OF NAME CHANGE:	19950216
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13G/A</submissionType>
<filerInfo>
<filer>
<filerCredentials>
<cik>0000938206</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<amendmentNo>2</amendmentNo>
<securitiesClassTitle>Common Stock</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>05/31/2025</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0001984086</issuerCik>
<issuerName>Septerna, Inc.</issuerName>
<issuerCusip>81734D104</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>250 East Grand Ave., Suite 65</com:street1>
<com:city>South San Francisco</com:city>
<com:stateOrCountry>CA</com:stateOrCountry>
<com:zipCode>94080</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
</designateRulesPursuantThisScheduleFiled>
</coverPageHeader>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>DRIEHAUS CAPITAL MANAGEMENT LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>4659911</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>4659911</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>4659911</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>10.46</classPercent>
<typeOfReportingPerson>IA</typeOfReportingPerson>
<comments>This amendment is being filed to reflect the change in our percentage of ownership of Septerna, Inc. (SEPN). DCM owned 10.46% of SEPN as of 5/31/2025, up from 7.03% of SEPN as of 3/31/2025</comments>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>Septerna, Inc.</issuerName>
<issuerPrincipalExecutiveOfficeAddress>250 East Grand Ave., Suite 65, South San Francisco, California, 94080</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>Driehaus Capital Management LLC</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>25 East Erie Street, Chicago, Illinois 60611</principalBusinessOfficeOrResidenceAddress>
<citizenship>USA</citizenship>
</item2>
<item3>
<notApplicableFlag>N</notApplicableFlag>
<typeOfPersonFiling>IA</typeOfPersonFiling>
</item3>
<item4>
<amountBeneficiallyOwned>4659911</amountBeneficiallyOwned>
<classPercent>10.46</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>0</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>4659911</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>4659911</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>Y</notApplicableFlag>
</item5>
<item6>
<notApplicableFlag>N</notApplicableFlag>
<ownershipMoreThan5PercentOnBehalfOfAnotherPerson>The shares reported by Driehaus Capital Management LLC (DCM) are held by numerous clients on a fully discretionary basis in accounts managed by DCM. Securities held in these clients' accounts are included in this report to reflect that DCM may have voting power and has dispositive power. To the best of DCM's knowledge, none of the referenced clients have the right to receive dividends or direct proceeds from the sale of interests relating to more than 5% of the class.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
</item6>
<item7>
<notApplicableFlag>Y</notApplicableFlag>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>N</notApplicableFlag>
<certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
</item10>
</items>
<signatureInformation>
<reportingPersonName>DRIEHAUS CAPITAL MANAGEMENT LLC</reportingPersonName>
<signatureDetails>
<signature>Janet McWilliams</signature>
<title>Janet McWilliams, General Counsel</title>
<date>06/10/2025</date>
</signatureDetails>
</signatureInformation>
</formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
