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Sagimet Biosciences Inc. Series A - SGMT STOCK NEWS

Welcome to our dedicated page for Sagimet Biosciences Series A news (Ticker: SGMT), a resource for investors and traders seeking the latest updates and insights on Sagimet Biosciences Series A stock.

Sagimet Biosciences Inc. (Nasdaq: SGMT) is a clinical-stage biopharmaceutical company committed to discovering and developing novel therapeutics targeting dysfunctional metabolic pathways. The company's lead drug candidate, denifanstat, is an innovative, oral, once-daily pill that selectively inhibits fatty acid synthase (FASN). This inhibitor is specifically designed for the treatment of nonalcoholic steatohepatitis (NASH), a severe and progressive liver disease.

Denifanstat has recently achieved significant milestones. The FASCINATE-2 Phase 2b clinical trial demonstrated statistically significant improvements in primary and multiple secondary endpoints at week 52 in 168 NASH patients with stage 2 or 3 fibrosis. The results showed that denifanstat was generally well-tolerated, with the majority of adverse events being mild to moderate. Importantly, no treatment-related serious adverse events were observed.

Under an exclusive license agreement, Gannex Pharma Co., Ltd., a wholly-owned subsidiary of Ascletis Pharma Inc., holds the rights to develop, manufacture, and commercialize denifanstat (referred to as ASC40) in Greater China.

Founded in 2019, Gannex focuses on the R&D and commercialization of novel drugs for NASH, with three clinical stage candidates targeting different pathways—FASN, THRβ, and FXR. Ascletis Pharma Inc., listed on the Hong Kong Stock Exchange, leads the global effort in viral diseases, NASH, and oncology, with several advanced drug candidates in its pipeline.

Sagimet's commitment to addressing unmet medical needs in metabolic dysfunction has placed it at the forefront of NASH treatment innovation. The company's current projects and partnerships highlight its potential for significant impact in the biopharmaceutical industry.

News

Sagimet Biosciences to Host Virtual Investor and Analyst Day on Inhibiting Fatty Acid Synthase (FASN) to Reduce Liver Fat, Inflammation and Fibrosis in MASH on May 3, 2024

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Sagimet Biosciences, a clinical-stage biopharmaceutical company, will host a virtual investor and analyst day on May 3, 2024, to discuss positive topline data from its FASCINATE-2 Phase 2b clinical trial of denifanstat in MASH and plans for a Phase 3 trial. The event will feature Dr. Stephen Harrison and focus on the unmet need for patients with metabolic dysfunction-associated steatohepatitis (MASH) and the Company's lead drug candidate, denifanstat, a selective FASN inhibitor.
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Sagimet Biosciences Announces Completion of Phase 1 Hepatic Impairment Study with FASN Inhibitor Denifanstat

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Sagimet Biosciences Inc. completes Phase 1 hepatic impairment study with denifanstat, a selective FASN inhibitor for MASH treatment. The study demonstrated safety and pharmacokinetics of denifanstat in subjects with hepatic impairment, with positive results supporting the planned Phase 3 program.
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Sagimet Biosciences Announces Appointment of Tim Walbert and Paul Hoelscher to its Board of Directors

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Sagimet Biosciences Inc. appoints Tim Walbert and Paul Hoelscher to its board of directors. Tim brings 30 years of biotechnology experience, having led Horizon Therapeutics and IDM Pharma. Paul Hoelscher, former CFO of Horizon, joins with a strong financial background. Sagimet plans to start Phase 3 trial for denifanstat in MASH in 2024.
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Sagimet Biosciences Reports Full Year 2023 Financial Results and Provides Corporate Updates

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Sagimet Biosciences Inc. reported positive Phase 2b trial data for denifanstat in MASH patients, meeting primary efficacy endpoints and reducing fibrosis significantly. The company aims to initiate a Phase 3 trial in 2024. Sagimet also extended its cash runway through 2025 with a follow-on offering of $104.7 million, ending 2023 with $94.9 million in cash, cash equivalents, and marketable securities.
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Sagimet Biosciences to Participate in Two Upcoming Investor Conferences

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Sagimet Biosciences Inc. announced its participation in two investor conferences, the TD Cowen 44th Annual Health Care Conference and Leerink Partners Global Biopharma Conference 2024. The company will present on March 5 and March 13, 2024, respectively, discussing its novel FASN inhibitors targeting metabolic and fibrotic pathways.
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Sagimet Biosciences Announces Pricing of Public Offering of Series A Common Stock

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Sagimet Biosciences Inc. announced the pricing of its underwritten public offering of 9,000,000 shares of its Series A common stock at a public offering price of $12.50 per share, expecting gross proceeds of $112.5 million. The underwriters have a 30-day option to purchase up to an additional 1,350,000 shares. The offering is expected to close on January 30, 2024. Goldman Sachs & Co. LLC, TD Cowen, and Leerink Partners are acting as joint book-running managers for the offering.
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Sagimet Biosciences Announces Proposed Public Offering of Series A Common Stock

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Sagimet Biosciences Inc. announced the commencement of an underwritten public offering of 9,000,000 shares of its Series A common stock, with an additional 1,350,000 shares subject to purchase by underwriters. The offering is being managed by Goldman Sachs & Co. LLC, TD Cowen, Leerink Partners, and JMP Securities, A Citizens Company. The registration statement for the offering has been filed with the SEC but has not yet become effective.
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Gannex's Strategic Partner Sagimet Biosciences Announces Positive Topline Results from Phase 2b FASCINATE-2 Clinical Trial of Denifanstat in Biopsy-Confirmed F2/F3 NASH

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Sagimet Biosciences Inc. (SGMT) and its strategic partner Gannex Pharma Co., Ltd. reported positive topline results from the FASCINATE-2 Phase 2b clinical trial of denifanstat for NASH patients with stage 2 or 3 fibrosis. The trial showed statistically significant improvements in NASH resolution and fibrosis reduction in denifanstat-treated patients compared to placebo. Denifanstat was generally well-tolerated with no serious adverse events observed.
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Sagimet Biosciences Announces Positive Topline Results from Phase 2b FASCINATE-2 Clinical Trial of Denifanstat in Biopsy-Confirmed F2/F3 NASH

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Sagimet Biosciences Inc. (SGMT) announced positive topline results from its FASCINATE-2 Phase 2b clinical trial of denifanstat versus placebo in NASH patients with stage 2 or stage 3 fibrosis. Denifanstat, an oral, selective FASN inhibitor, showed statistically significant improvements relative to placebo on primary and secondary endpoints, including NASH resolution without worsening of fibrosis and fibrosis improvement by ≥ 1 stage with no worsening of NASH. The drug was generally well-tolerated, with no treatment-related serious adverse events observed. The next step for Sagimet is holding an End-of-Phase 2 meeting with the FDA and starting the Phase 3 program for development of denifanstat in NASH with related fibrosis, anticipated to begin in the second half of 2024.
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Sagimet Biosciences to Participate in the First Annual Goldman Sachs Catalyst Clinic

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Sagimet Biosciences Inc. (SGMT) to participate in the First Annual Goldman Sachs Catalyst Clinic, with a virtual fireside chat on December 6, 2023, to discuss its novel FASN inhibitors targeting dysfunctional metabolic pathways.
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FAQ

What is the current stock price of Sagimet Biosciences Series A (SGMT)?

The current stock price of Sagimet Biosciences Series A (SGMT) is $4.95 as of December 20, 2024.

What is the market cap of Sagimet Biosciences Series A (SGMT)?

The market cap of Sagimet Biosciences Series A (SGMT) is approximately 164.2M.

What is Sagimet Biosciences Inc.?

Sagimet Biosciences Inc. is a clinical-stage biopharmaceutical company focused on developing novel fatty acid synthase (FASN) inhibitors for treating diseases caused by dysfunctional lipid metabolism pathways.

What is denifanstat?

Denifanstat is Sagimet's lead drug candidate, an oral, once-daily pill that selectively inhibits fatty acid synthase (FASN), designed for the treatment of nonalcoholic steatohepatitis (NASH).

What were the results of the FASCINATE-2 Phase 2b clinical trial?

The FASCINATE-2 Phase 2b trial showed that denifanstat achieved significant improvements in primary and multiple secondary endpoints at week 52 in NASH patients with stage 2 or 3 fibrosis. The treatment was well-tolerated with mostly mild to moderate adverse events.

Who holds the rights to denifanstat in Greater China?

Gannex Pharma Co., Ltd., a wholly-owned subsidiary of Ascletis Pharma Inc., holds the exclusive rights to develop, manufacture, and commercialize denifanstat (ASC40) in Greater China.

What is NASH?

Nonalcoholic steatohepatitis (NASH) is a progressive and severe liver disease characterized by inflammation and damage caused by fat buildup in the liver. It is associated with an increased risk of cirrhosis and liver cancer.

How does denifanstat work?

Denifanstat works by selectively inhibiting fatty acid synthase (FASN), a key enzyme involved in lipid metabolism. This inhibition reduces fat accumulation, inflammation, and fibrosis in the liver.

What other projects is Sagimet Biosciences working on?

Sagimet is focused on developing a portfolio of selective FASN inhibitors for treating diseases resulting from dysfunctional lipid metabolism pathways. Their lead candidate, denifanstat, is in advanced clinical development for NASH.

What is the significance of the partnership with Gannex Pharma?

The partnership with Gannex Pharma allows Sagimet to leverage Gannex's expertise in R&D and commercialization in Greater China, accelerating the development and availability of denifanstat in that region.

What are the company's future plans?

Sagimet's future plans include initiating a Phase 3 registrational program for denifanstat in MASH with fibrosis, and continuing to advance their pipeline of selective FASN inhibitors.

Where can I find more information about Sagimet Biosciences?

You can learn more about Sagimet Biosciences by visiting their website at www.sagimet.com.

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Sagimet Biosciences Inc. Series A

Nasdaq:SGMT

SGMT Rankings

#4030 Ranked by Market Cap
N/A Ranked by Dividends

SGMT Stock Data

164.20M
26.35M
14.11%
66.94%
12.96%
Biotechnology
Pharmaceutical Preparations
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United States of America
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