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Jun 30, 2024
Sagimet Biosciences Q2 2024 Earnings Report
Sagimet Biosciences reported financial results for Q2 2024 and provided corporate updates.
Key Takeaways
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.
Presented Phase 2b FASCINATE-2 clinical trial 52-week data at EASL, showing statistically significant fibrosis reduction in advanced F2 and F3 MASH patients and a statistically significant delay in progression to cirrhosis.
Preparing to initiate a Phase 3 clinical development program for denifanstat in MASH in the second half of 2024.
Appointed Anne Phillips and Jennifer Jarrett to the Board of Directors, effective August 1, 2024.
Anticipated cash runway through 2025 with $188.5 million in cash, cash equivalents and marketable securities as of June 30, 2024.
Forward Guidance
Sagimet Biosciences anticipates a cash runway through 2025 and plans to initiate a Phase 3 clinical development program for denifanstat in MASH in the second half of 2024.
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