Sagimet Biosciences Earnings Reports

Sagimet Biosciences reported a net loss of $10.4 million for Q2 2025, an increase from $8.1 million in the same period last year. The company's cash, cash equivalents, and marketable securities stood at $135.5 million. Key developments include positive Phase 3 results for denifanstat in acne in China and the initiation of a Phase 1 trial for TVB-3567 for acne in the U.S.

Sagimet Biosciences Inc. reported a net loss of $18.176 million for the three months ended March 31, 2025, a significant increase from the $6.629 million net loss in the same period last year. This was primarily driven by a substantial increase in research and development expenses, particularly due to start-up costs for their Phase 3 program of denifanstat in MASH.

Sagimet Biosciences had a productive 2024, initiating its Phase 3 denifanstat program for MASH and receiving Breakthrough Therapy designation from the FDA. The company also advanced its second FASN inhibitor, TVB-3567, into clinical trials for acne. Financially, Sagimet reported a net loss of $16.2 million for Q4 2024, with increased research and development expenses.

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.