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Sep 30, 2024
Sagimet Biosciences Q3 2024 Earnings Report
Reported third quarter 2024 financial results and provided corporate updates.
Key Takeaways
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.
Denifanstat received Breakthrough Therapy designation from the FDA for MASH.
Phase 2b FASCINATE-2 study results of denifanstat were published in The Lancet Gastroenterology & Hepatology.
Sagimet completed end-of-Phase 2 interactions with the FDA on the development of denifanstat for MASH, with Phase 3 program initiation expected by the end of 2024.
The company anticipates a cash runway through 2025, with $170.0 million in cash, cash equivalents, and marketable securities as of September 30, 2024.
Forward Guidance
Sagimet Biosciences is focused on advancing denifanstat towards a pivotal Phase 3 program in MASH by the end of 2024.
Historical Earnings Impact
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