Sagimet Biosciences, Inc. Class A ( (SGMT) ) has released its Q4 earnings. Here is a breakdown of the information Sagimet Biosciences, Inc. Class A presented to its investors.
Sagimet Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on developing novel therapeutics targeting metabolic and fibrotic pathways, primarily in the treatment of liver diseases such as metabolic dysfunction-associated steatohepatitis (MASH). The company is known for its lead drug candidate, denifanstat, which is an oral, once-daily pill designed to inhibit fatty acid synthase (FASN).
Sagimet Biosciences recently reported its financial results for the full year 2024, alongside significant corporate updates. The company has initiated its Phase 3 program for denifanstat in MASH, with patient screening expected to commence in the first half of 2025. Additionally, denifanstat has received Breakthrough Therapy designation from the FDA, highlighting its potential to address unmet medical needs in MASH treatment.
Key financial metrics reveal that Sagimet ended 2024 with $158.7 million in cash, cash equivalents, and marketable securities, expected to fund operations for at least the next 12 months. The company reported a net loss of $45.6 million for the year, an increase from the previous year’s loss of $27.9 million, attributed to higher research and development expenses as the company progresses its clinical programs.
Strategically, Sagimet is advancing its second FASN inhibitor, TVB-3567, into clinical trials for acne treatment, following IND clearance. The company is also preparing for significant milestones in its Phase 3 trials for denifanstat, which aim to evaluate its efficacy and safety in treating MASH.
Looking ahead, Sagimet’s management remains optimistic about the potential of its drug candidates. With ongoing clinical trials and strategic partnerships, the company is poised to make significant strides in addressing diseases related to dysfunctional metabolic pathways.