Sagimet Biosciences Inc.
- Open
- 9.55
- Day high
- 9.85
- Day low
- 9.54
- Prev close
- 9.52
- Volume
- 406K
- Mkt cap
- $591M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 5.8
- P/S
- —
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$719K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
Sagimet Biosciences Inc. (SGMT) is a Healthcare company listed on NASDAQ. The stock is down 1% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Sagimet Biosciences Inc. (SGMT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SGMT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 11, 2026 | $-0.25 | $-0.26 | -3.6% | — | — |
| May 12, 2026 | $-0.39 | $-0.33 | +15.4% | — | — |
| Mar 11, 2026 | $-0.43 | $-0.29 | +32.9% | — | — |
| Nov 13, 2025 | $-0.41 | $-0.40 | +2.4% | — | — |
| Aug 13, 2025 | $-0.52 | $-0.32 | +38.5% | — | — |
| May 8, 2025 | $-0.79 | $-0.56 | +29.1% | — | — |
| Mar 12, 2025 | $-0.65 | $-0.50 | +23.1% | — | — |
| Nov 14, 2024 | $-0.47 | $-0.45 | +4.3% | — | — |
| Aug 14, 2024 | $-0.34 | $-0.25 | +26.5% | — | — |
| May 15, 2024 | $-0.41 | $-0.23 | +43.9% | — | — |
| Nov 13, 2023 | $-1.02 | $-0.35 | +65.7% | $2M | — |
| Jul 14, 2023 | $-0.50 | $-35.80 | -7060.0% | — | — |
SGMT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 22, 2026 | Happel Daviddirector, officer: President & CEO | Sell | 64,051 | $7.76 |
| Jul 22, 2026 | Rozek Elizabethofficer: Chief Legal & Admin. Officer | Sell | 10,545 | $7.76 |
| Jul 22, 2026 | Kemble Georgedirector | Sell | 18,844 | $7.46 |
| Jun 15, 2026 | Hoelscher Paul W.director | Grant | 39,567 | $6.48 |
| Jun 15, 2026 | SEIDENBERG BETH Cdirector | Grant | 39,567 | $6.48 |
| Jun 15, 2026 | Kemble Georgedirector | Grant | 39,567 | $6.48 |
| Jun 15, 2026 | GRAMMER ELIZABETH Adirector | Grant | 39,567 | $6.48 |
| Jun 15, 2026 | Jarrett Jenniferdirector | Grant | 39,567 | $6.48 |
| Jun 15, 2026 | Phillips Anne M.director | Grant | 39,567 | $6.48 |
| Jun 1, 2026 | Chauche Thierryofficer: Chief Financial Officer | Grant | 50,000 | $7.27 |
| Jun 1, 2026 | Happel Daviddirector, officer: President & CEO | Grant | 300,000 | $7.27 |
| Jun 1, 2026 | Rozek Elizabethofficer: Chief Legal & Admin. Officer | Grant | 100,000 | $7.27 |
| Jun 1, 2026 | Grauer Andreasofficer: Chief Medical Officer | Grant | 35,000 | $7.27 |
| May 14, 2026 | Grauer Andreasofficer: Chief Medical Officer | Grant | 264,759 | $6.44 |
| Feb 20, 2026 | Happel Daviddirector, officer: President & CEO | Grant | 128,000 | — |
Source: SGMT SEC Form 4 filings, latest Jul 22, 2026. For informational purposes only — not investment advice.
See the full SGMT insider & 13F page →Sagimet Biosciences Inc. company profile
Overview
Sagimet Biosciences Inc. (NASDAQ:SGMT) is a clinical-stage biopharmaceutical company founded in 2006 and headquartered in San Mateo, California. Originally incorporated as 3-V Biosciences, Inc., the company changed its name to Sagimet Biosciences in August 2019 and went public in July 2023. The company specializes in developing innovative therapeutics that target fatty acid synthase (FASN) inhibitors to treat diseases caused by dysfunctional lipid metabolism pathways, representing a novel approach in addressing metabolic disorders and certain cancers.
Business
Sagimet operates in the biotechnology sector, specifically focusing on metabolic diseases and oncology through its proprietary fatty acid synthase (FASN) inhibitor platform. FASN is an enzyme responsible for synthesizing fatty acids in cells, and when this process becomes dysfunctional, it can lead to various diseases including liver disorders and cancer. The company's approach involves developing small molecule drugs that can selectively inhibit this enzyme to restore normal cellular metabolism. The company's pipeline consists of two primary drug candidates. Denifanstat serves as the lead compound, currently being developed for nonalcoholic steatohepatitis (NASH) and acne. NASH is a serious form of fatty liver disease that can progress to cirrhosis and liver failure, affecting millions of people worldwide due to rising obesity rates and metabolic syndrome. The drug is also being investigated for acne treatment, as excess sebum production in skin is linked to overactive fatty acid synthesis. The second major program involves TVB-3567, another FASN inhibitor being developed for various cancer types. Cancer cells often exhibit altered metabolism, including increased fatty acid synthesis to support rapid growth and proliferation. By targeting this metabolic vulnerability, TVB-3567 aims to selectively harm cancer cells while sparing normal tissue. As a clinical-stage company, Sagimet generates minimal revenue and focuses primarily on research and development activities. The company operates as a single business segment concentrated on FASN inhibitor development, with virtually all resources dedicated to advancing these therapeutic programs through clinical trials.
Revenue model
Sagimet currently operates on a research and development-focused business model typical of early-stage biopharmaceutical companies. The company generates minimal revenue, with only $2 million reported in 2023 (likely from research collaborations or grants) and zero revenue in recent quarters. Instead, the company relies on equity financing to fund its operations and clinical development programs. The company's future revenue model will depend on successfully advancing its drug candidates through clinical trials and regulatory approval. Once approved, Sagimet would generate income through direct product sales to healthcare systems, licensing agreements with larger pharmaceutical companies, or strategic partnerships. The target markets for Denifanstat are substantial, with NASH affecting an estimated 3-5% of the global population and representing a multi-billion dollar market opportunity. Several factors could significantly impact Sagimet's future profitability. Positive clinical trial results would dramatically increase the company's value and partnership opportunities, while negative results could severely impair prospects. Regulatory approval timelines directly affect when revenue generation can begin, with FDA approval processes typically taking several years. Competition from other NASH treatments and metabolic disease therapies could limit market share and pricing power. Additionally, manufacturing costs and scalability will influence gross margins once commercialization begins. The company's current cash burn rate of approximately $40-45 million annually means it must continue raising capital until achieving profitability or securing significant partnership deals. Success in clinical trials could attract major pharmaceutical partners willing to provide upfront payments and milestone payments in exchange for development and commercialization rights.
Competitive moat
Sagimet's competitive moat is currently limited but potentially significant if its FASN inhibitor approach proves successful. The company's primary advantage lies in its specialized expertise in FASN inhibition and early-mover status in this particular therapeutic mechanism. FASN inhibitors represent a relatively novel approach to treating metabolic diseases, giving Sagimet potential first-mover advantages if clinical trials demonstrate efficacy. The company's intellectual property portfolio around FASN inhibitors could provide some protection, though the strength and breadth of these patents are not fully disclosed. Additionally, Sagimet's clinical data and regulatory relationships developed through its trial programs create modest barriers to entry for competitors pursuing similar approaches. However, Sagimet faces significant competitive threats from multiple directions. Large pharmaceutical companies with substantially greater resources could develop competing FASN inhibitors or alternative treatments for NASH and metabolic diseases. Several major players including Gilead, Intercept, and others are actively developing NASH treatments through different mechanisms. Alternative therapeutic approaches such as GLP-1 receptor agonists, which have shown promise in treating metabolic diseases, could potentially address similar patient populations. The company's moat will ultimately depend on clinical trial outcomes and the ability to demonstrate superior efficacy or safety compared to existing and emerging treatments. Without successful clinical results, Sagimet's competitive position remains highly vulnerable. The biotechnology sector's high failure rates mean that even promising early-stage compounds face significant execution risk, limiting the durability of any technological advantages.
Risks & safety
Sagimet presents a high-risk investment profile typical of clinical-stage biotechnology companies, with limited margin of safety for investors. • Cash position: $64.7 million in cash and short-term investments as of Q1 2025, providing approximately 1.5 years of runway at current burn rates • Debt levels: Minimal debt with debt-to-equity ratio of 0.0003, indicating strong balance sheet structure • Burn rate: Operating cash flow negative $42.4 million in 2024, with quarterly burn accelerating to $14.5 million in Q1 2025 • Solvency risk: Moderate near-term risk requiring additional financing within 12-18 months to continue operations • Valuation metrics: Price-to-book ratio of 0.76 suggests trading below book value, though book value primarily consists of cash rather than productive assets • Revenue multiple: Not applicable given minimal revenue generation • Enterprise value: Negative EV/EBITDA ratios due to substantial losses and cash holdings • Clinical trial risk: Primary risk factor as failure in key trials could eliminate most company value • Regulatory risk: FDA approval processes create additional uncertainty and timeline risk • Dilution risk: Future equity raises likely to significantly dilute existing shareholders
Recent development
Based on available financial data, Sagimet has been primarily focused on advancing its clinical development programs over the past several years. The company went public in July 2023, raising capital to fund its clinical trials and operations. Since the IPO, the company has maintained its focus on developing Denifanstat for NASH and acne indications while advancing TVB-3567 for oncology applications. The company's cash burn has increased over recent quarters, rising from approximately $5.6 million in Q2 2024 to $14.5 million in Q1 2025, indicating accelerated clinical activity and operational expansion. This increased spending likely reflects advancement of clinical trials, expanded research activities, and higher operational costs associated with being a public company. Sagimet's strategic focus remains centered on its FASN inhibitor platform, with no apparent major pivots or diversification into other therapeutic areas. The company appears committed to its core hypothesis that FASN inhibition represents a viable therapeutic approach for metabolic diseases and cancer. The lack of recent earnings call transcripts limits visibility into specific strategic developments, partnership discussions, or detailed clinical trial progress updates. The company's balance sheet has remained relatively stable with strong cash reserves, though the increasing burn rate indicates management is actively investing in advancing its pipeline. The absence of significant revenue generation confirms Sagimet remains in pure development mode without near-term commercialization activities.
SGMT company profile · for informational purposes only — not investment advice.
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