Sagimet Q2 net loss $8.1M, cash $188.5M; denifanstat fibrosis data positive; Phase 3 plan H2 2024

Sagimet Biosciences Inc.

2024-Q2 EPS reported -$0.48

Cash and marketable securities $188.5M as of June 30, 2024; net loss $8.1M for Q2 2024 vs $6.8M year ago.
Denifanstat Phase 2b: fibrosis improvement ≥1 stage in 30% vs 14% placebo (ITT); 49% vs 13% in F3 patients.
Anne Phillips and Jennifer Jarrett appointed to board effective August 1, 2024.
Phase 3 program for denifanstat in MASH expected to start H2 2024; CRO contract executed.
R&D expense $6.3M and G&A $4.3M in Q2 2024, up from $4.7M and $2.4M year ago.

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