Sagimet FY2023 net loss $27.9M; denifanstat Phase 2b hits endpoints; board adds Walbert, Hoelscher

Sagimet Biosciences Inc.

Net loss $27.9M for FY2023 vs $30.5M in 2022; revenue $2.0M from milestone payment.
Cash, equivalents and securities $94.9M at Dec 31, 2023; Jan 2024 offering added $104.7M net.
Denifanstat Phase 2b FASCINATE-2 met primary endpoints: MASH resolution 36% vs 13% (p=0.0022); fibrosis improvement 41% vs 18% (p=0.005).
Board expanded from 7 to 9 directors; Tim Walbert (ex-Horizon CEO) and Paul Hoelscher (ex-Horizon CFO) appointed eff. April 1, 2024.
Directors Richard Rodgers and Jinzi Wu will not stand for re-election at June 2024 annual meeting.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Paul Hoelscher

Director

SGMT · Sagimet Biosciences Inc.

Effective: 2024-04-01
Filed: March 25, 2024, 7:59 PM ET

the appointment of each of Tim Walbert and Paul Hoelscher to serve as directors of the Board, in each case effective as of April 1, 2024

Appointed

Tim Walbert

Director

SGMT · Sagimet Biosciences Inc.

Effective: 2024-04-01
Filed: March 25, 2024, 7:59 PM ET

the appointment of each of Tim Walbert and Paul Hoelscher to serve as directors of the Board, in each case effective as of April 1, 2024

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sagimet Biosciences Inc. reported fourth quarter and year ended December 31, 2023 results: revenue $2.0 million.

Period: fourth quarter and year ended December 31, 2023
Revenue: $2.0 million
Result: reported results

Exact text from the filing

offering, are expected to fund operations for at least the next 12 months based on management’s current operating plan. · Revenues for the year ended December 31, 2023 were $2.0 million compared to no revenues for fiscal 2022. The increase was due to a $2.0 million milestone payment that was recognized in July 2023. · Research and development (R&D) expense for

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Paul Hoelscher was appointed as Director at Sagimet Biosciences Inc..

Action: appointed
Role: Director

Exact text from the filing

the appointment of each of Tim Walbert and Paul Hoelscher to serve as directors of the Board, in each case effective as of April 1, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Tim Walbert was appointed as Director at Sagimet Biosciences Inc..

Action: appointed
Role: Director

Exact text from the filing

the appointment of each of Tim Walbert and Paul Hoelscher to serve as directors of the Board, in each case effective as of April 1, 2024

View on SEC.gov

326 earnings releases filed in the last 30 days. Browse all earnings releases →

Sagimet Biosciences Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-038101

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