Sagimet Biosciences (SGMT) UBS Global Healthcare Conference 2024 summary

Lead program overview and recent milestones

• Lead program targets fatty acid synthase (FASN) to address MASH, acne, and certain solid tumors.

• Denifanstat, the lead FASN inhibitor, targets fat accumulation, inflammation, and fibrosis in MASH.

• Over 700 patients have been treated across studies, with strong efficacy and tolerability.

• Phase II-B biopsy study completed with top-line results reported in January; further data presented at the European liver meeting showed pronounced effects in severe disease.

Mechanism of action and biological rationale

• FASN is central to de novo lipogenesis, converting sugars to fats, crucial in liver and skin.

• Fat accumulation in hepatocytes leads to inflammation and fibrosis, driving disease progression.

• FASN inhibition impacts not only fat synthesis but also inflammatory and stellate cell activation.

• The molecule uniquely targets fat, inflammation, and fibrosis directly.

Clinical data and efficacy

• Phase II-B data showed robust results, meeting primary endpoints in both MITT and ITT populations.

• Significant fibrosis improvement in advanced (F3) patients: 36% delta over placebo for one-stage, 30% for two-stage improvement.

• Lower progression to cirrhosis observed: 5% on drug vs. 11% on placebo.

• Secondary endpoints for registration were met using strict ITT analysis.