Sagimet Q2 net loss $6.8M; IPO raised $86.2M net; denifanstat 67% fat reduction

Sagimet Biosciences Inc.

2023-Q2 EPS reported -$71.39 revenue$2,000,000

IPO closed July 18: 6,026,772 shares at $16; gross proceeds $96.4M, net $86.2M.
Cash $18.5M at June 30; combined with IPO proceeds extends runway into Q1 2025.
Phase 2b FASCINATE-2 interim: 67% denifanstat achieved ≥30% liver fat reduction vs 18% placebo (p<0.001).
Tony Rimac appointed CFO (previously COO) after Dennis Hom departure; Liz Rozek as General Counsel & CCO.
Net loss $13.4M for H1 2023; R&D $9.2M, G&A $4.7M; no FY2023 guidance provided.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sagimet Biosciences Inc. reported the second quarter ended June 30, 2023 results: net income Net loss for the second quarter ended June 30, 2023 was $6.8 million.

Period: the second quarter ended June 30, 2023
Net income: Net loss for the second quarter ended June 30, 2023 was $6.8 million
Result: reported results

Exact text from the filing

Net loss for the second quarter ended June 30, 2023 was $6.8 million compared to a net loss of $7.1 million for the second quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sagimet Biosciences Inc. reported the six months ended June 30, 2023 results: net income The net loss for the six months ended June 30, 2023 totaled $13.4 million.

Period: the six months ended June 30, 2023
Net income: The net loss for the six months ended June 30, 2023 totaled $13.4 million
Result: reported results

Exact text from the filing

The net loss for the six months ended June 30, 2023 totaled $13.4 million compared to $15.8 million for the same period in 2022.

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Sagimet Biosciences Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-093921

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