Sagimet Q1 2024 net loss $6.6M; cash $193.7M; FDA End-of-Phase 2 meeting in Q2; MASH Phase 3 start H2

Sagimet Biosciences Inc.

2024-Q1 EPS reported -$0.23

Net loss for Q1 2024 was $6.6M, flat year-over-year; R&D expense $5.3M, G&A $3.5M.
Cash, cash equivalents and marketable securities total $193.7M as of March 31, 2024, expected to fund operations through 2025.
Denifanstat Phase 2b FASCINATE-2 full data to be presented as oral at EASL June 5-8, 2024.
End-of-Phase 2 meeting with FDA anticipated in Q2 2024; Phase 3 trial start planned for second half of 2024.
Follow-on offering in January 2024 netted $104.7M to support pipeline and general corporate purposes.

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 0.95

Sagimet Biosciences Inc. reported the quarter ended March 31, 2024 results: net income Net loss for the first quarter ended March 31, 2024 was $6.6 million compared to a net loss of $6.6 million for the firs.

Period: the quarter ended March 31, 2024
Net income: Net loss for the first quarter ended March 31, 2024 was $6.6 million compared to a net loss of $6.6 million for the firs
Result: reported results

Exact text from the filing

today reported financial results for the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0001104659-24-061609

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