For Q3 FY2024 (ended September 30, 2023), Sagimet reported revenue of $2 million and a net loss of $10.65 million, with diluted EPS of -$0.33. Operating loss was $11.71 million. Year-over-year comparisons are not available for revenue, but net income improved 41.4% from the prior year.
•Revenue was $2 million for the quarter.
•Net loss of $10.65 million, improved 41.4% year-over-year.
•Operating loss of $11.71 million, improved 41.0% year-over-year.
•Diluted EPS of -$0.33, improved 41.1% year-over-year.
Informational summary based on SEC XBRL figures · generated by deepseek-v4-flash. Not investment advice.
Sagimet Biosciences Inc., a clinical-stage biopharmaceutical company develops novel therapeutics called fatty acid synthase (FASN) inhibitors for the treatment of diseases that result from dysfunctional metabolic and fibrotic pathways in the United States.
The company's lead drug candidate is Denifanstat, an oral, once-daily pill and selective FASN inhibitor for the treatment of metabolic dysfunction-associated steatohepatitis, acne, and select forms of cancer.
It also develops TVB-3567, a FASN inhibitor for the treatment of acne indication; and oncology programs, such as solid tumor and glioblastoma. Incorporated in 2006 and headquartered in San Mateo, California, Sagimet Biosciences was formerly known as 3-V Biosciences, Inc. before rebranding in August 2019.
Sagimet Biosciences Inc. is a clinical-stage biopharmaceutical company focused on developing novel therapeutics called fatty acid synthase (FASN) inhibitors. These inhibitors target diseases resulting from dysfunctional metabolic and fibrotic pathways. The company's lead drug candidate is Denifanstat, an oral, once-daily pill and selective FASN inhibitor being developed for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), acne, and select forms of cancer. Additionally, Sagimet is developing TVB-3567, a FASN inhibitor for acne, and has oncology programs targeting solid tumors and glioblastoma. The company was formerly known as 3-V Biosciences, Inc. before rebranding in August 2019.
On which stock exchange is Sagimet Biosciences (SGMT) listed and in what currency?
Sagimet Biosciences Inc. is listed on the NasdaqGM exchange under the ticker symbol SGMT. The company trades in U.S. dollars (USD), which is the currency used for its financial reporting and stock transactions. As a U.S.-based company, its shares are available for trading on this major American stock exchange, providing liquidity and access to investors globally.
What sector and industry does Sagimet Biosciences (SGMT) belong to?
Sagimet Biosciences operates within the Healthcare sector and specifically in the Biotechnology industry. As a clinical-stage biopharmaceutical company, it focuses on developing innovative therapies for metabolic and fibrotic diseases, as well as certain cancers. The biotechnology industry is characterized by high research and development costs, long development timelines, and significant regulatory oversight, but also offers potential for breakthrough treatments.
Where is Sagimet Biosciences headquartered and what is its history?
Sagimet Biosciences is headquartered in San Mateo, California, United States. The company was incorporated in 2006 and was originally known as 3-V Biosciences, Inc. before rebranding to Sagimet Biosciences in August 2019. Its operations are primarily focused in the United States, where it conducts research and development for its FASN inhibitor pipeline. The company's location in the San Francisco Bay Area places it within a major biotechnology hub, providing access to talent, partnerships, and funding opportunities.
What are Sagimet Biosciences' main drug candidates and therapeutic areas?
Sagimet Biosciences' lead drug candidate is Denifanstat, an oral, once-daily selective FASN inhibitor. Denifanstat is being developed for metabolic dysfunction-associated steatohepatitis (MASH), a serious liver disease, as well as for acne and select forms of cancer. The company also has TVB-3567, another FASN inhibitor specifically for acne treatment. Additionally, Sagimet is advancing oncology programs targeting solid tumors and glioblastoma, a type of brain cancer. All these candidates are in clinical-stage development, meaning they are being tested in human trials to evaluate safety and efficacy.