Sagimet Biosciences Earnings Reports

Sagimet Biosciences reported its Q3 2024 financial results, highlighting the Breakthrough Therapy designation from the FDA for denifanstat in MASH and the anticipated initiation of a Phase 3 program by the end of 2024. The company's cash runway is expected to last through 2025, with cash, cash equivalents, and marketable securities totaling $170.0 million as of September 30, 2024.

Sagimet Biosciences reported their Q2 2024 financial results, highlighting the presentation of positive 52-week data from the Phase 2b FASCINATE-2 clinical trial of denifanstat at the EASL Congress. The company is preparing to initiate a Phase 3 clinical development program for denifanstat in MASH in the second half of 2024. They also announced the addition of two new members to their Board of Directors and anticipate a cash runway through 2025, with $188.5 million in cash, cash equivalents, and marketable securities as of June 30, 2024.

Sagimet Biosciences reported positive topline data from the Phase 2b FASCINATE-2 trial and is preparing to initiate a pivotal Phase 3 trial in the second half of 2024. They completed a follow-on offering in January 2024 for $104.7 million in net proceeds, with cash, cash equivalents, and marketable securities totaling $94.9 million as of December 31, 2023.