Sagimet Biosciences Inc.
Business
Sagimet Biosciences is a clinical-stage biopharmaceutical company developing selective fatty acid synthase (FASN) inhibitors targeting metabolic and fibrotic diseases. Its lead candidate denifanstat, an oral once-daily pill, is in development for metabolic dysfunction-associated steatohepatitis (MASH), acne, and select cancers; a second inhibitor, TVB-3567, targets acne. The company operates through internal development and a licensing partnership with Ascletis for Greater China, pursuing clinical advancement across multiple indications.
Summary from 10-K filed 2026-03-11
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Research and development expenses | 39 | 38 | 20 | 25 | |
| General and administrative expenses | 18 | 16 | 13 | 6 | |
| Total operating expenses | 57 | 54 | 33 | 31 | |
| Loss from operations | −57 | −54 | −31 | −31 | |
| Interest income and other, net | 6 | 9 | 3 | 553,000 | |
| Total other income | 6 | 9 | 3 | 556,000 | |
| Net loss | −51 | −46 | −28 | −30 | |
| Net loss per share, basic (in dollars per share) | −1.58 | −1.45 | −2.66 | −165.2 | |
| Net loss per share, diluted (in dollars per share) | −1.58 | −1.45 | −2.66 | −165.2 | |
| Weighted-average shares outstanding, basic (in shares) | 32 | 31 | 10 | 184,619 | |
| Weighted-average shares outstanding, diluted (in shares) | 32 | 31 | 10 | 184,619 | |
| Net unrealized gain (loss) on marketable securities | −110,000 | 200,000 | 114,000 | −84,000 | |
| Total comprehensive loss | −51 | −45 | −28 | −31 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 35 | 76 | 75 | 200,000 | — | |
| Short-term marketable securities | 78 | 75 | 20 | 32 | — | |
| Prepaid expenses and other current assets | 3 | 2 | 2 | 447,000 | — | |
| Total current assets | 116 | 153 | 97 | 33 | — | |
| Long-term marketable securities | 0 | 7 | — | — | — | |
| Operating lease right-of-use assets | 78,000 | 77,000 | 73,000 | 212,000 | — | |
| Total assets | 116 | 160 | 97 | 33 | — | |
| Accounts payable | 1 | 1 | 186,000 | 1 | — | |
| Accrued expenses and other current liabilities | 4 | 3 | 5 | 4 | — | |
| Operating lease liabilities | 78,000 | 78,000 | 65,000 | 133,000 | — | |
| Total current liabilities | 5 | 4 | 6 | 5 | — | |
| Commitments and contingencies | — | — | — | — | — | |
| Undesignated preferred stock, $0.0001 per share: 10,000,000 shares authorized; no shares issued and outstanding at December 31, 2025 and December 31, 2024 | 0 | 0 | — | — | — | |
| Additional paid-in capital | 458 | 451 | 341 | 35 | — | |
| Accumulated deficit | −346 | −295 | −250 | −222 | — | |
| Accumulated other comprehensive income | 120,000 | 230,000 | 30,000 | −84,000 | — | |
| Total stockholders' equity | 111 | 156 | 91 | −187 | −158 | |
| Total liabilities and stockholders' equity | 116 | 160 | 97 | 33 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Accretion of discount on marketable securities | −389,000 | −1 | −37,000 | −212,000 | |
| Non-cash operating lease expense | 151,000 | 145,000 | 139,000 | 130,000 | |
| Stock-based compensation expense | 6 | 5 | 5 | 2 | |
| Write-off of deferred financing costs | 230,000 | 0 | — | — | |
| Prepaid expenses and other current assets | −2 | −5,000 | −952,000 | 1 | |
| Accounts payable, accrued expenses and other current liabilities | 929,000 | −907,000 | 120,000 | 3 | |
| Operating lease liabilities | −152,000 | −136,000 | −146,000 | −137,000 | |
| Net cash used in operating activities | −46 | −42 | −24 | −24 | |
| Purchases of marketable securities | −107 | −108 | −20 | −41 | |
| Sales and maturities of marketable securities | 111 | 46 | 32 | 9 | |
| Net cash provided by (used in) investing activities | 5 | −62 | 13 | −32 | |
| Proceeds from sale of Series A common stock, net of issuance costs | 0 | 106 | — | — | |
| Payment of financing costs | 0 | −1 | −4 | −85,000 | |
| Proceeds from exercise of stock options | 275,000 | 114,000 | 6,000 | 12,000 | |
| Net cash provided by financing activities | 275,000 | 105 | 86 | −73,000 | |
| Net (decrease) increase in cash and cash equivalents | −41 | 701,000 | 75 | −57 | |
| Right-of-use assets obtained in exchange for operating lease obligations | 152,000 | 149,000 | — | — | |
| Deferred financing costs within accounts payable and accrued expenses | 9,000 | 0 | 323,000 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Sagimet Biosciences Inc.'s CIK number?
Sagimet Biosciences Inc.'s SEC CIK number is 0001400118 (1400118). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Sagimet Biosciences Inc.'s SEC filings?
All of Sagimet Biosciences Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Sagimet Biosciences Inc. last report earnings?
Sagimet Biosciences Inc. (SGMT) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-059009). This is Sagimet Biosciences Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Sagimet Biosciences Inc.'s most recent earnings 8-K?
Sagimet Biosciences Inc.'s latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001104659-26-059009. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Sagimet Biosciences Inc.'s latest earnings 8-K →
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