Sagimet Biosciences Inc

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Sagimet Biosciences, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of novel therapeutics for the treatment of infectious diseases. Its lead drug candidate, denifanstat, is an oral, once-daily pill and selective fatty acid synthase (FASN) inhibitor in development for the treatment of nonalcoholic steatohepatitis (NASH). The company was founded by Urs F. Greber, Ari Helenius, and Lucas Pelkmans on December 19, 2006 and is headquartered in San Mateo, CA.

SAN MATEO, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (“Sagimet”) (Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel fatty acid synthase (FASN) inhibitors designed to target dysfunctional metabolic and fibrotic pathways, today announced the commencement of an underwritten public offering of 9,000,000 shares of its Series A common stock. All of the shares in the proposed offering are to be sold by Sagimet. In addition, Sagimet expects to grant the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of its Series A common stock in the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Sagimet Biosciences Announces Proposed Public Offering of Series A Common Stock

Denifanstat achieved statistically significant results on primary and multiple secondary endpoints in a 52-week clinical trial of 168 NASH patients with stage 2 or 3 fibrosis -  Primary efficacy endpoints: NASH resolution without worsening of fibrosis with ≥2-point reduction in NAS (NAFLD Activity Score) in 36% of denifanstat-treated patients vs 13% with placebo (p=0.002) ≥2-point reduction in NAS without worsening of fibrosis in 52% of denifanstat-treated patients vs 20% with placebo (p=0.0001) Denifanstat was generally well-tolerated Gannex Pharma Co., Ltd., a wholly-owned subsidiary of Ascletis, holds the rights to develop, manufacture and commercialize denifanstat (ASC40) in Greater China under an exclusive license agreement with Sagimet Biosciences Inc. SHANGHAI , Jan. 22, 2024 /PRNewswire/ -- Gannex Pharma Company Ltd ("Gannex"), a wholly-owned company of Ascletis Pharma Inc. (Ascletis, HKEX:1672), announced that its strategic partner, Sagimet Biosciences Inc. (Sagimet, Nasdaq: SGMT), today reported positive topline results from Sagimet's FASCINATE-2 Phase 2b clinical trial of denifanstat versus placebo in biopsy-confirmed non-alcoholic steatohepatitis (NASH) patients with stage 2 or stage 3 fibrosis (F2/F3) at week 52.

Gannex's Strategic Partner Sagimet Biosciences Announces Positive Topline Results from Phase 2b FASCINATE-2 Clinical Trial of Denifanstat in Biopsy-Confirmed F2/F3 NASH

Denifanstat achieved statistically significant results on primary and multiple secondary endpoints in a 52-week clinical trial of 168 NASH patients with stage 2 or 3 fibrosis

Sagimet Biosciences Announces Positive Topline Results from Phase 2b FASCINATE-2 Clinical Trial of Denifanstat in Biopsy-Confirmed F2/F3 NASH

SAN MATEO, Calif., Dec. 04, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (Sagimet, Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel fatty acid synthase (FASN) inhibitors that target dysfunctional metabolic pathways, today announced its participation in the First Annual Goldman Sachs Catalyst Clinic. Management is scheduled to participate in a virtual fireside chat at 12:00 p.m. ET / 9:00 a.m. PT on Wednesday, December 6, 2023.

Sagimet Biosciences to Participate in the First Annual Goldman Sachs Catalyst Clinic

SAN MATEO, Calif., Nov. 28, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (Sagimet, Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel fatty acid synthase (FASN) inhibitors that target dysfunctional metabolic pathways, will present preclinical data at the 7th Obesity and NASH Drug Development Summit on November 28, 2023, in Boston. The presentation details an evaluation of Sagimet's FASN inhibitor alone or in combination with semaglutide in a preclinical mouse model of nonalcoholic steatohepatitis (NASH), using an artificial intelligence (AI) based digital pathology platform (FibroNestTM, Pharmanest Inc., Princeton, USA) to assess fibrosis.

Sagimet Biosciences Announces Oral Presentation of Preclinical Results of FASN Inhibitor in Combination with Semaglutide at the 7th Obesity and NASH Drug Development Summit

SAN MATEO, Calif., Nov. 22, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (Sagimet, Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel fatty acid synthase (FASN) inhibitors that target dysfunctional metabolic pathways, today announced its participation in the upcoming 35th Annual Piper Sandler Healthcare Conference being held in New York. David Happel, Chief Executive Officer, and Eduardo Bruno Martins, M.D., D.Phil., Chief Medical Officer, are scheduled to participate in a fireside chat at 3:30 p.m. ET / 12:30 p.m. PT on Wednesday, November 29, 2023, and will also hold one-on-one meetings with investors.

Sagimet Biosciences to Present at the 35th Annual Piper Sandler Healthcare Conference

On track to report topline week 52 liver biopsy results from Phase 2b FASCINATE-2 trial with denifanstat in the first quarter of 2024

Sagimet Biosciences Reports Third Quarter 2023 Financial Results and Provides Corporate Updates

Combination treatment of a FASN inhibitor with semaglutide, a GLP-1 receptor agonist, improved several biomarkers associated with NASH in a mouse model and showed a significant improvement in liver fibrosis, while semaglutide alone did not significantly improve fibrosis

Sagimet Biosciences Presents Preclinical Results Supporting the Therapeutic Potential of its FASN inhibitor in Combination with Semaglutide and a Comprehensive Lipidomic Analysis of Interim FASCINATE-2 Data at AASLD - The Liver Meeting® 2023

SAN MATEO, Calif., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel therapeutics targeting dysfunctional metabolic pathways, today announces the acceptance of two abstracts, one of which is a late-breaking poster, at the American Association for the Study of Liver Diseases (AASLD) – The Liver Meeting® 2023, to be held November 10-14, 2023 in Boston, MA.

Sagimet Biosciences Announces Acceptance of Two Abstracts at AASLD - The Liver Meeting® 2023

SAN MATEO, Calif., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel fatty acid synthase (FASN) inhibitors that target dysfunctional metabolic pathways, today announced that management will participate in a fireside chat and one-on-one investor meetings at the H.C. Wainwright 7th Annual NASH Investor Conference on Tuesday, October 24, 2023, at 3:00 p.m. ET / 12:00 p.m. PT.

Sagimet Biosciences To Present at the H.C. Wainwright 7th Annual NASH Investor Conference

SAN MATEO, Calif., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel therapeutics targeting dysfunctional metabolic pathways, today announced that its license partner, Ascletis Bioscience Co. Ltd. (Ascletis), has enrolled 120 patients in its Phase 3 registration clinical trial of denifanstat combined with bevacizumab for treatment of recurrent glioblastoma (rGBM). Ascletis anticipates that this number of study subjects will provide sufficient events for its planned interim analysis of progression-free survival (PFS). Denifanstat is an oral, selective small molecule inhibitor of fatty acid synthase (FASN), a key enzyme which regulates de novo lipogenesis (DNL). Sagimet licensed the rights to develop and commercialize denifanstat in the People's Republic of China, Hong Kong, Macau and Taiwan to Ascletis in January 2019.

Sagimet Biosciences Announces Completion of Enrollment of 120 Patients for Phase 3 Clinical Trial by Its Partner Ascletis of Denifanstat Combined with Bevacizumab for Treatment of Recurrent Glioblastoma

Sagimet Biosciences Inc. develops FASN inhibitors for diseases related to dysfunctional lipid metabolism. Their lead candidate, Denifanstat, shows promising results in treating nonalcoholic steatohepatitis and acne. The company has a strong safety profile and sufficient cash to last until 2025.

Sagimet Biosciences: Recent IPO With Emerging Positive Data In NASH

Completed upsized initial public offering raising $96.4 million in gross proceeds Presented positive data at EASL Congress 2023 from the planned interim readout of the Phase 2b FASCINATE-2 trial in NASH showing denifanstat was well-tolerated and met week 26 liver fat response endpoint On track to report topline week 52 liver biopsy results from Phase 2b FASCINATE-2 trial in the first quarter of 2024 Implemented leadership changes with Tony Rimac assuming the position of Chief Financial Officer and Liz Rozek joining as General Counsel & Chief Compliance Officer SAN MATEO, Calif., Aug. 21, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel therapeutics targeting dysfunctional metabolic pathways, today reported financial results for the second quarter ended June 30, 2023, and provided recent corporate updates.

Sagimet Biosciences Reports Second Quarter 2023 Financial Results and Provides Corporate Updates

SAN MATEO, Calif., Aug. 15, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (“Sagimet”) (Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel therapeutics targeting dysfunctional metabolic pathways, today announced the closing of the sale of an additional 714,272 shares of Series A common stock at the initial public offering price of $16.00 per share pursuant to the partial exercise of the underwriters' option to purchase additional shares, in connection with its initial public offering that closed on July 18, 2023. All of the shares of Series A common stock sold in the initial public offering were offered by Sagimet. After giving effect to the partial exercise of the underwriters' option to purchase additional shares, Sagimet has issued a total of 6,026,772 Series A common stock in the initial public offering for aggregate gross proceeds of approximately $96.4 million, before deducting underwriting discounts and commissions and other offering expenses payable by Sagimet.

Sagimet Biosciences Announces Closing of Underwriters' Option to Purchase Additional Shares of Series A Common Stock in Connection with its Upsized Initial Public Offering

SAN MATEO, Calif., July 20, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (“Sagimet”) (Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel therapeutics targeting dysfunctional metabolic pathways, today announced a series of leadership changes and appointments, designed to ensure a seamless transition into the next stage of growth for the company. Elizabeth Rozek was appointed earlier this year as General Counsel & Chief Compliance Officer, and Anthony M. Rimac, who currently serves as Chief Operating Officer, will assume the position of Chief Financial Officer as of August 1, 2023.

Sagimet Biosciences Announces Leadership Changes

Apogee Therapeutics Inc

Nabors Energy Transition Corp II

Oddity Tech Ltd

Surf Air Mobility Inc

Turbo Energy SA

Following the Independence Day lull, the July IPO market warmed up with two sizable biotechs, joined by two blank check companies. Surf Air Mobility delayed its direct listing until later this month. In its second IPO attempt, Sagimet Biosciences priced a slightly upsized deal at the midpoint to raise $85 million at a $386 million market cap.

U.S. IPO Weekly Recap: July IPO Market Kicks Off With Sizable Biotechs

SAN MATEO, Calif., July 13, 2023 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (“Sagimet”) (Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel therapeutics targeting dysfunctional metabolic pathways, today announced the pricing of its upsized initial public offering of 5,312,500 shares of its Series A common stock at a public offering price of $16.00 per share. All of the shares of Series A common stock are being offered by Sagimet. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Sagimet, are expected to be $85.0 million. Sagimet's Series A common stock is expected to begin trading on the Nasdaq Global Market on July 14, 2023 under the ticker symbol “SGMT.” The offering is expected to close on July 18, 2023, subject to the satisfaction of customary closing conditions. In addition, Sagimet has granted the underwriters a 30-day option to purchase up to an additional 796,875 shares of its Series A common stock at the initial public offering price, less underwriting discounts and commissions.

Sagimet Biosciences Announces Pricing of Upsized Initial Public Offering

Sagimet Biosciences Inc has filed proposed terms for a $75 million U.S. IPO. The biopharma firm is developing treatment candidates for NASH, and with its Chinese development partner Ascletis, acne and cancer. Sagimet has produced positive Phase 2 interim results for its NASH lead candidate, has highly-regarded investors, and the IPO appears reasonably valued.

IPO Update: Sagimet Biosciences Pushes Forward On IPO Plan

Sagimet Biosciences Inc. SGMT, disclosed Monday terms for its initial public offering, in which the California-based biopharmaceutical company focused on developing treatments for nonalcoholic steatohepatitis (NASH) looks to raise up to $79.7 million.

News for Sagimet Biosciences Inc Stock (SGMT)