Start here if you're new
what it is
Sagimet is trying to turn one drug design into treatments for liver disease, acne, and cancer.
how it gets paid
Last year Sagimet Biosciences made $2M in revenue. Ascletis acne collaboration was the main engine at $2M, or 100% of sales.
what just happened
Quarterly EPS landed at -$0.52 in Q4 2024, versus -$0.36 in Q4 2023.
At a glance
B balance sheet — gets the job done, barely
-$1.45 fy2024 eps est
$2M fy2023 rev est
2.85 beta
~$170M market cap
xvary composite: 62/100 — average
What they do
Sagimet is trying to turn one drug design into treatments for liver disease, acne, and cancer.
This is less moat than molecule. Sagimet's lead asset, denifanstat, is a once-daily oral pill, and the company has just 14 employees. If you own the stock, you are betting one FASN inhibitor can clear trials before the cash burn clears you.
How they make money
$2M
annual revenue
Ascletis acne collaboration
$2M
Denifanstat for MASH
$0M
TVB-3567 acne program
$0M
Oncology programs
$0M
The products that matter
late-stage liver disease candidate
Denifanstat (TVB-2640)
Phase 3 data expected in the first half of 2026
it's the only clinical-stage asset that matters today. If this readout works, the company changes shape. If it doesn't, the current $170M equity story gets much smaller.
the thesis
drug discovery platform
FASN Inhibitor Platform
$2M current revenue base
this is the engine behind Denifanstat, but the page does not show a second clinical asset carrying the valuation. Right now, platform value is mostly a promise.
early
Key numbers
-$1.45
2024 EPS est.
EPS → profit or loss per share → so what: Sagimet is still expected to lose $1.45 per share in 2024, so your thesis lives or dies on trial progress, not profits.
$2M
2023 revenue est.
Revenue → money coming in → so what: $2M is tiny against a roughly $170M market cap, which tells you this stock is priced on hope.
2.85
beta
Beta → how hard a stock swings versus the market → so what: SGMT can move almost three times as fast as the index.
14
employees
Headcount → how many people run the company → so what: 14 employees is very small for a public biotech trying to advance several programs.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank elevated — clinical biotech risk dominates the tape
- price stability 5 / 100
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for SGMT right now.
source: institutional data · return history unavailable
What just happened
losses widened
Quarterly EPS landed at -$0.52 in Q4 2024, versus -$0.36 in Q4 2023.
There is no real revenue base to hide behind here. Full-year EPS improved from -$2.66 in 2023 to a projected -$1.45 in 2024, but you are still looking at a loss-making clinical-stage biotech.
-$0.52
q4 eps
-$1.45
fy2024 eps
$2M
fy2023 revenue est.
the number that mattered
The key number is -$1.45, because that full-year EPS figure tells you Sagimet is burning through another year without a profitable business underneath it.
source: company earnings report, 2026
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What could go wrong
the #1 risk here is Denifanstat failing or slipping in Phase 3 MASH. SGMT does not have a diversified pipeline or a commercial base to soften that blow.
med
One-asset concentration
Denifanstat is the only late-stage asset carrying the story. With just $2M in revenue, there is no operating business underneath to absorb a failed readout.
If the Phase 3 readout disappoints, the current ~$170M market cap can reprice fast because almost the entire thesis sits on one program.
med
Financing risk if timing slips
$113M in cash is real support, but clinical-stage biotech calendars have a habit of moving. If the readout shifts or costs rise, today’s runway becomes tomorrow’s dilution debate.
That matters more here than for a commercial biotech because there is no product cash flow to refill the balance sheet.
med
Partner and sentiment spillover
Ascletis handles development in China, and the page already flags a January 2026 safety-data concern. In small biotech, side-channel headlines can move the stock even when the core program is unchanged.
This is how a stock with a 2.85 beta and a $2–$11 trading range turns ordinary uncertainty into violent price action.
one lead asset, $2M of revenue, and $113M in cash mean almost the entire equity case depends on Denifanstat reaching the readout without a clinical or financing surprise.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
Phase 3 MASH readout window
Topline Denifanstat data is expected in the first half of 2026. That date is the stock.
cash
$113M balance-sheet cushion
You want this number holding up cleanly enough to reach the catalyst without a financing scramble.
partner
Ascletis follow-through
Any new China-partner safety or development update can hit sentiment before the main readout does.
volatility
The $2–$11 trading range
That 52-week spread tells you positioning is unstable. Expect the stock to trade on headlines, not spreadsheets.
Analyst rankings
risk profile
high volatility
pre-revenue biotech: treat drawdown risk as primary; do not read “low risk rank” as safety.
chart momentum
below average
momentum rank 4 — analysts see underperformance risk in the near term.
source: institutional data
Institutional activity
institutional ownership data for SGMT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
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