Sagimet Biosciences (SGMT) 2024 Cantor Fitzgerald Global Healthcare Conference summary

Company overview and scientific approach

• Focuses on FASN inhibition to address diseases like MASH, acne, and certain cancers by targeting de novo lipogenesis and fat accumulation.

• Lead program, denifanstat, is unique as a fat inhibitor, not just a fat burner or mobilizer.

• Consistent preclinical and clinical data show denifanstat reduces fat, inflammation, and fibrosis in MASH.

• Completed phase IIa and IIb studies with industry-leading biopsy results in MASH.

• IPO and follow-on financing completed; phase III in MASH planned to start by year-end.

Mechanism of action and differentiation

• Denifanstat inhibits FASN, reducing toxic palmitate and impacting fat, inflammation, and fibrosis.

• Mechanistically distinct from ACC and DGAT2 inhibitors, with a favorable position in the DNL pathway.

• Demonstrates class-leading efficacy in fibrosis improvement, especially in advanced (F3) patients.

• Synergistic effects observed in preclinical models when combined with GLP-1s and Resdiffra.

Clinical data and efficacy

• Phase IIb FASCINATE trial met both primary and key secondary endpoints, using strict ITT analysis.

• Achieved a 23% fibrosis delta vs. placebo at one year; 36% one-stage improvement in F3s.

• Placebo group had twice as many patients progress to F4; more data to be presented at upcoming liver meeting.

• Efficacy maintained in patients on stable GLP-1s; no impact seen in placebo group.