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Sagimet Biosciences Inc - SGMT STOCK NEWS

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

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Sagimet Biosciences's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Sagimet Biosciences's position in the market.

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
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.5%
Tags
conferences
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News
Sagimet Biosciences Announces Completion of Phase 1 Hepatic Impairment Study with FASN Inhibitor Denifanstat
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.41%
Tags
clinical trial
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News
Sagimet Biosciences Announces Appointment of Tim Walbert and Paul Hoelscher to its Board of Directors
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.74%
Tags
management
News
Sagimet Biosciences Reports Full Year 2023 Financial Results and Provides Corporate Updates
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.74%
Tags
earnings
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News
Sagimet Biosciences to Participate in Two Upcoming Investor Conferences
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.07%
Tags
conferences
-
News
Sagimet Biosciences Announces Pricing of Public Offering of Series A Common Stock
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-23.89%
Tags
offering
News
Sagimet Biosciences Announces Proposed Public Offering of Series A Common Stock
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.31%
Tags
offering
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News
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
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.94%
Tags
clinical trial
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News
Sagimet Biosciences Announces Positive Topline Results from Phase 2b FASCINATE-2 Clinical Trial of Denifanstat in Biopsy-Confirmed F2/F3 NASH
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
170.09%
Tags
clinical trial
News
Sagimet Biosciences to Participate in the First Annual Goldman Sachs Catalyst Clinic
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.12%
Tags
conferences
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Sagimet Biosciences Inc

Nasdaq:SGMT

SGMT Rankings

#4096 Ranked by Market Cap
#5266 Ranked by Stock Gains
N/A Ranked by Dividends

SGMT Stock Data

154.14M
19.51M
13.48%
47.29%
7.36%
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
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United States
San Mateo