Sagimet reports FY2024 net loss of $45.6M; advances denifanstat Phase 3 in MASH and TVB-3567 IND clearance

Sagimet Biosciences Inc.

Full year 2024 net loss $45.6M ($27.9M in 2023); R&D expense $38.4M, up from $19.8M.
Cash $158.7M at Dec 31, 2024; funded by Jan 2024 follow-on offering of 9M shares netting $104.7M.
Phase 3 denifanstat program for MASH initiated; patient screening expected 1H 2025; includes FASCINATE-3 and FASCINIT.
FDA granted Breakthrough Therapy designation for denifanstat in non-cirrhotic MASH with F2/F3 fibrosis.
IND cleared for TVB-3567, a second FASN inhibitor for acne; Phase 1 trial planned in 2025.

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