Sagimet Biosciences

What Sagimet Biosciences does

Sagimet Biosciences is a clinical-stage biopharmaceutical company developing a portfolio of selective fatty acid synthase (FASN) inhibitors for diseases driven by dysregulated lipid metabolism. Its lead candidate, denifanstat (ASC40), is an oral once-daily FASN inhibitor that binds a non-enzymatic region of the FASN protein and has been evaluated in more than 1,200 subjects across moderate-to-severe acne, MASH (F2/F3 and F4), and FASN-dependent solid tumors. The pipeline also includes TVB-3567 (Phase 1 in acne), a preclinical topical FASN inhibitor, and a denifanstat + resmetirom fixed-dose combination in development for MASH.

The company's go-to-market is bifurcated by geography: in Greater China, partner Ascletis Bioscience runs development and commercialization under a licensing arrangement (NDA accepted by China's NMPA in December 2025), generating milestone and future royalty income for Sagimet. In the United States, Sagimet plans to file an IND in mid-2026 and initiate a registrational Phase 3 acne trial in H2 2026, with downstream distribution intended through standard pharmaceutical/prescription channels. Sagimet has 11-50 employees, is headquartered in San Mateo, California, completed its NASDAQ IPO (SGMT) in January 2024 raising ~$112.5M, and closed a $175M follow-on in April 2026 to fund operations through 2028.

Sagimet is pre-revenue and unprofitable, posting a $51.0M net loss in 2025 (vs. $45.6M in 2024) against $113.1M of cash at year-end 2025; consensus equity research from 11 analysts carries a "Moderate Buy" rating with a ~$26.25 average price target, and institutional investors own approximately 87.86% of the stock. The business model is therefore classic clinical-stage biotech: capital is raised in the public markets, deployed into Phase 3 development, and the company is positioned for either an asset sale, partnership, or independent commercialization if US approval is secured.

Name

Sagimet Biosciences

Legal name

Sagimet Biosciences Inc.

Website

https://sagimet.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Sagimet Biosciences is a clinical-stage biopharmaceutical company developing oral FASN inhibitors, led by denifanstat for moderate-to-severe acne, MASH, and FASN-dependent solid tumors, with Ascletis commercializing in Greater China and direct US development planned via a Phase 3 acne trial in H2 2026.

Ownership category

akta.pro rank

Product category

Clinical-stage biopharmaceutical therapeutics

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Endocrinology & Metabolic Specialty Pharmaceuticals (HLAIACAD)

akta.pro secondary industry

Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE)

Keywords

• Fatty acid synthase inhibitors
• Biopharmaceutical drug development
• Metabolic disease therapeutics
• MASH treatment development
• Clinical-stage biopharmaceutical

Headquarters

HQ city

San Mateo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Pharmaceutical Product Sales: Pre-revenue clinical-stage biopharma. Plans to commercialize denifanstat and pipeline products upon regulatory approval. Will distribute through pharmaceutical prescription channels.
2. Licensing and Partnership Revenue: License partner Ascletis conducts Phase 3 trials in China; Sagimet receives milestone payments from partnership. Ascletis reported positive Phase 3 data and China's NMPA accepted NDA for denifanstat in acne.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Sagimet Biosciences is a clinical-stage biopharmaceutical company developing selective fatty acid synthase (FASN) inhibitors to treat diseases driven by dysfunctional metabolic and fibrotic pathways caused by overproduction of palmitate. Its lead product candidate, denifanstat, is an oral once-daily selective FASN inhibitor being developed for moderate-to-severe acne, MASH, and certain FASN-dependent solid tumors. The company is also advancing TVB-3567, a topical FASN inhibitor formulation, and a fixed-dose combination of denifanstat with resmetirom for MASH.

Product overview

Sagimet Biosciences is a clinical-stage biopharmaceutical company developing a portfolio of novel fatty acid synthase (FASN) inhibitors. The core product is denifanstat (ASC40), an oral, once-daily selective FASN inhibitor with clinical data across multiple disease states including metabolic dysfunction-associated steatohepatitis (MASH), acne vulgaris, and certain FASN-dependent solid tumors. Additional pipeline products include TVB-3567 (a second FASN inhibitor in Phase 1 for acne) and a topical FASN inhibitor formulation in preclinical development. The company is also developing a fixed-dose combination of denifanstat with resmetirom for MASH treatment.

Differentiator

Problem solved

Functional benefit

Products and services

• Denifanstat (ASC40 / TVB-2640) Oral, once-daily selective fatty acid synthase (FASN) inhibitor that binds to a unique non-active site on the FASN protein. Studied in more than 1,200 subjects across clinical trials in moderate-to-severe acne vulgaris, MASH, and certain FASN-dependent solid tumors, with positive Phase 2b FASCINATE-2 data in MASH and positive Phase 3 acne data from partner Ascletis in China.
• TVB-3567 Potent and selective small-molecule FASN inhibitor in clinical development for acne, showing potent inhibition of palmitate synthesis in human, rat, mouse, and dog cell lines. IND-enabling GLP toxicology studies completed; first-in-human Phase 1 initiated.
• FASN Inhibitor Topical Formulation Topical formulation of a FASN inhibitor in preclinical development for dermatology applications. IND-enabling studies completed; evaluation of IND filing timing ongoing.
• Denifanstat + Resmetirom Fixed-Dose Combination

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Eduardo Bruno MartinsminorOthers · 20 April 2026Eduardo Bruno Martins retired as Chief Medical Officer on April 20, 2026, succeeded by Andreas Grauer.
• TAPI (Technology & API Services)coreStrategic or Co-development Partner · 17 December 2025Global license agreement for innovative forms of resmetirom active pharmaceutical ingredients for Sagimet's fixed-dose combination program combining resmetirom with denifanstat for MASH treatment.
• Ascletis Bioscience Co. Ltd.coreOEM/ Whitelabel/ Licensing Partner · 1 January 2023License partner conducting Phase 3 clinical trials for denifanstat in China. Ascletis reported positive Phase 3 results in acne and China's NMPA accepted the NDA for denifanstat. Sagimet receives milestone payments. Trials conducted in China by Ascletis, who has licensed development and commercialization rights to all indications in Greater China.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Inventiva: Direct MASH peer developing lanifibranor (pan-PPAR agonist), with Phase 3 NATiV3 actively enrolling. Similar profile as a clinical-stage European biotech focused on F2/F3 MASH with regulatory pathway to approval.
• Madrigal Pharmaceuticals: Direct peer in MASH with FDA-approved resmetirom (Rezdiffra), the only currently approved MASH therapy. Sagimet is also developing a fixed-dose combination with resmetirom, making Madrigal both a competitor and a partner for combination development.
• Akero Therapeutics: Direct MASH peer developing efruxifermin (FGF21 analog) with strong Phase 2b HARMONY data and Phase 3 SYNCHRONY program underway. Comparable clinical-stage biopharma competing in the same MASH regulatory space.
• 89bio: Direct MASH peer developing pegozafermin (FGF21 analog) with positive Phase 2b ENLIGHTEN data and Phase 3 HARMONY 3 program in progress. Similar sized clinical-stage biotech pursuing metabolic liver disease with novel mechanism.
• Viking Therapeutics: Direct MASH and metabolic peer with VK2809 (oral THR-β agonist) Phase 2b VOYAGE data and broader metabolic/obesity pipeline. Comparable clinical-stage biotech with multiple indications and strong investor attention.
• Ascletis Bioscience: License partner developing and commercializing denifanstat in Greater China, and a direct peer in MASH and acne with overlapping pipeline candidates. Strongly comparable business with both commercial and clinical-stage assets in the same indications.
• Terns Pharmaceuticals: Direct MASH peer with TERN-501 (oral THR-β agonist) and TERN-601 oral GLP-1 in development. Similar clinical-stage biotech profile targeting MASH with novel oral mechanism.

Broad incumbents

• CymaBay Therapeutics: Liver disease peer that developed seladelpar (PPARδ agonist) for primary biliary cholangitis, acquired by Gilead for $4.3B in March 2024. Demonstrates large-pharma appetite for clinical-stage liver/MASH assets and a relevant comparable for Sagimet's MASH franchise value.
• Intercept Pharmaceuticals: Historical NASH/MASH peer (obeticholic acid) that received FDA CRL and underwent significant restructuring. Provides important cautionary comparable on MASH regulatory execution risk and the capital intensity of bringing a liver drug to market.

Emerging players

• Galmed Pharmaceuticals: Smaller clinical-stage peer developing aramchol meglumine for MASH, with Phase 3 ARMOR study. Smaller market cap comparable in indication overlap, providing a lower-scale proxy for FASN inhibitor competitive dynamics in MASH.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/3-v-biosciences

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds14 records

Investors19 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sagimet Biosciences