Sagimet Biosciences Inc. is advancing its lead drug candidate, denifanstat, a FASN inhibitor, for the treatment of metabolic dysfunction-associated steatohepatitis (MASH). The company recently announced that the FDA granted Breakthrough Therapy designation to denifanstat for the treatment of non-cirrhotic MASH with moderate to advanced liver fibrosis, supported by positive Phase 2b trial data.
Clinical Advancements and Trial Plans
The FDA's decision to grant Breakthrough Therapy designation to denifanstat underscores the urgent need for effective treatments for MASH, a severe form of non-alcoholic fatty liver disease (NAFLD). Sagimet plans to initiate two Phase 3 trials by the end of 2024: FASCINATE-3 for patients with F2/F3 MASH and FASCINIT for those with suspected or confirmed MASLD/MASH. These trials aim for accelerated approval based on liver biopsy assessments. Denifanstat is also being tested in China by Ascletis BioScience Co. Ltd. in Phase 3 trials for acne vulgaris and recurrent glioblastoma multiforme (GBM).
Financial Position and Future Outlook
Sagimet Biosciences completed a follow-on offering in January 2024, raising $104.7 million in net proceeds. As of September 30, 2024, Sagimet had cash, cash equivalents, and marketable securities totaling $170 million. The company expects its cash resources to fund operations for at least the next 12 months and anticipates continued investment in research and development, particularly in advancing denifanstat and exploring additional indications for its FASN inhibitors. The company may seek additional funding through public or private equity or debt financings to support its strategic initiatives.
Strategic Initiatives and Collaborations
Sagimet is collaborating with Ascletis BioScience Co. Ltd. for clinical trials in China. The company is also exploring the use of its FASN inhibitors in acne and certain forms of cancer. Sagimet expects to expand its pipeline by exploring FASN inhibitors in additional disease areas such as acne and certain cancers, with ongoing IND-enabling studies for a second FASN inhibitor, TVB-3567.
