Sagimet Q3 2024 net loss $14.6M; cash $170M; denifanstat Phase 3 start expected by end of 2024

Sagimet Biosciences Inc.

2024-Q3 EPS reported -$0.95

Net loss of $14.6M for Q3 2024, vs $6.4M in Q3 2023; R&D expense increased to $12.7M.
Cash, equivalents and marketable securities of $170.0M as of Sept 30, 2024; expected to fund operations through 2025.
Denifanstat received FDA Breakthrough Therapy designation for non-cirrhotic MASH (F2/F3 fibrosis); Phase 3 program expected to initiate by end of 2024.
Phase 2b FASCINATE-2 results published in The Lancet Gastroenterology & Hepatology; end-of-Phase 2 interactions completed.
License partner Ascletis completed enrollment of 480 patients in Phase 3 acne trial in China; topline results expected Q2 2025.

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