Seaport Therapeutics is a clinical-stage neuropsychiatry biotech with no approved products or revenue. The company's core technology is its proprietary Glyph prodrug platform, which chemically modifies drug molecules to be absorbed through the intestinal lymphatic system, bypassing first-pass liver metabolism. This approach improves oral bioavailability and reduces liver toxicity for drugs that previously failed not because of ineffective mechanisms, but because they couldn't be delivered orally at therapeutic doses. The platform also generates new composition-of-matter IP on otherwise off-patent molecules. Seaport's two lead programs are GlyphAllo (SPT-300), an oral prodrug of allopregnanolone targeting MDD, currently in a Phase 2b trial with topline data expected in the first half of 2027; and GlyphAgo (SPT-320), an oral prodrug of agomelatine targeting GAD, which showed a 6.8-fold bioavailability improvement in Phase 1 and has Phase 2 trials planned with data expected through 2028. A third program, Glyph2BLSD, a prodrug of a non-hallucinogenic LSD analog targeting treatment-resistant depression and PTSD, is in preclinical stages. Upon commercialization, Seaport intends to sell branded prescription drugs in the US, with revenue driven by prescription volume, pricing, and reimbursement. The company also retains the option to out-license the Glyph platform for non-CNS indications. Seaport is funded entirely through equity raises and estimates cash runway into 2029.