Sagimet reports Q3 net loss of $6.4M; cash $101.8M; NASH data due Q1 2024

Sagimet Biosciences Inc.

2024-Q3 EPS reported -$3.22 revenue$2,000,000

Net loss $6.4M vs $7.5M in Q3 2022; revenue $2.0M from milestone vs zero year-ago.
Cash $101.8M, expected to fund operations at least 12 months.
Phase 2b FASCINATE-2 (denifanstat) week 52 liver biopsy results expected Q1 2024.
Two AASLD abstracts accepted; preclinical FASN inhibitor + semaglutide combo data shown.
Ascletis enrolled 120 patients in Phase 3 denifanstat + bevacizumab for recurrent GBM.

item 2.02 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 third quarter ended September 30, 2023 results: revenue Revenues for the third quarter ended September 30, 2023 were $2.0 million, net income Net loss for the third quarter ended September 30, 2023 was $6.4 million.

Period: the third quarter ended September 30, 2023
Revenue: Revenues for the third quarter ended September 30, 2023 were $2.0 million
Net income: Net loss for the third quarter ended September 30, 2023 was $6.4 million
Result: reported results

Exact text from the filing

On November 13, 2023, Sagimet Biosciences Inc. (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2023.

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Sagimet Biosciences Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-116795

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