Sagimet Biosciences Inc.

NasdaqGM:SGMT Stock Report

Market Cap: US$402.6m

Sagimet Biosciences Management

Management criteria checks 1/4

Sagimet Biosciences' CEO is Dave Happel, appointed in Oct 2022, has a tenure of 3.67 years. total yearly compensation is $3.24M, comprised of 19.4% salary and 80.6% bonuses, including company stock and options. directly owns 0.45% of the company’s shares, worth $1.81M. The average tenure of the management team and the board of directors is 1.9 years and 2.9 years respectively.

Key information

Dave Happel

Chief executive officer

US$3.2m

Total compensation

CEO salary percentage19.44%
CEO tenure3.7yrs
CEO ownership0.5%
Management average tenure1.9yrs
Board average tenure2.9yrs

Recent management updates

Recent updates

Seeking Alpha • May 14

Sagimet Biosciences: Making The Bull Case For Differentiated Denifanstat

Summary Sagimet Biosciences receives a Buy rating, driven by denifanstat's potential in MASH and acne, despite higher risk. Denifanstat met all endpoints in Phase 2b MASH and Phase 3 China acne trials, supporting optimism for US acne Phase 3. SGMT's near-term catalysts include US Phase 3 acne trial initiation and milestone payments from China partner Ascletis. Funding remains a concern, with the cash runway potentially not extending beyond 2027, making clinical and partnership progress critical. Read the full article on Seeking Alpha
Analysis Article • Apr 18

Here's Why We're Not Too Worried About Sagimet Biosciences' (NASDAQ:SGMT) Cash Burn Situation

Just because a business does not make any money, does not mean that the stock will go down. For example, Sagimet...
Analysis Article • Jan 12

We're Hopeful That Sagimet Biosciences (NASDAQ:SGMT) Will Use Its Cash Wisely

We can readily understand why investors are attracted to unprofitable companies. For example, although...
Analysis Article • Mar 19

Sagimet Biosciences (NASDAQ:SGMT) Is In A Good Position To Deliver On Growth Plans

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
Seeking Alpha • Mar 07

Sagimet Biosciences' Denifanstat Should Be Worth More Today

Summary Denifanstat is SGMT’s leading FASN inhibitor for MASH. It has shown strong Phase 2b results and earned the FDA Breakthrough Therapy designation. SGMT also has a diversified pipeline on acne, solid tumors, and GBM, enhancing its optionality beyond its primary MASH focus. They’ve recently shown some positive trial milestones, including the first Phase 3 dosing. SGMT’s management estimates that if Denifanstat is approved as a MASH therapy, it could have significant market potential for millions of US patients. In my view, SGMT simply has too many strategic options like partnerships, licensing, or M&A that could unlock its value with Denifanstat in the next few years. Read the full article on Seeking Alpha
Analysis Article • Dec 15

Sagimet Biosciences (NASDAQ:SGMT) Is In A Good Position To Deliver On Growth Plans

Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and...
Seeking Alpha • Nov 14

Sagimet: More Than Just A MASH Drug Development Biotech

Summary Sagimet Biosciences Inc.'s Initiation of the phase 3 FASCINIT and FASCINATE-3 studies, using denifanstat for treatment of patients with MASH/MAFLD & MASH respectively, expected before the end of 2024. The global acne treatment market size is projected to grow from $17.48 billion by 2032. Results from phase 3 study by partner Ascletis, using denifanstat for treatment of patients with Acne Vulgaris, expected by Q2 of 2025. The global non-alcoholic steatohepatitis market expected to reach $39.3 billion by 2031. Read the full article on Seeking Alpha
Seeking Alpha • Oct 18

Sagimet Soars: FDA Breakthrough Therapy Designation And Lancet Review Validate Denifanstat

Summary Sagimet Biosciences' Denifanstat shows significant potential in treating MASH, with FDA Breakthrough Therapy designation and peer-reviewed validation, supporting a "Strong Buy" rating. Denifanstat's unique FASN inhibition mechanism effectively reduces liver fibrosis, positioning it as a superior treatment for advanced MASH compared to competitors like Tirzepatide. SGMT's robust financials, including $188.5 million in liquidity and no debt, provide a solid foundation for advancing Denifanstat through Phase 3 trials. Potential applications in dermatology and oncology, along with favorable safety profiles, enhance Denifanstat's market prospects and underscore SGMT's undervaluation. Read the full article on Seeking Alpha
Seeking Alpha • Jul 31

Sagimet Biosciences' Denifanstat Remains A Strong Buy Despite Eli Lilly's Tirzepatide

Summary Sagimet Biosciences is progressing with Denifanstat research targeting MASH, acne, and cancer with promising Phase 2b trial results. Denifanstat is progressing toward Phase 3 trials, with positive results reinforcing its potential, especially for hepatic-impaired patients. Eli Lilly’s Tirzepatide presents strong competition for Denifanstat in MASH treatment, showing higher efficacy in recent trials. SGMT’s strong cash position and favorable valuation make it an attractive investment despite Eli Lilly's competitive pressures. Denifanstat’s unique safety profile and potential for combination therapies justify a "Strong Buy" rating, targeting niche markets and specific patient populations. Read the full article on Seeking Alpha
Analysis Article • May 31

Companies Like Sagimet Biosciences (NASDAQ:SGMT) Are In A Position To Invest In Growth

Just because a business does not make any money, does not mean that the stock will go down. For example, although...
Seeking Alpha • Apr 26

Sagimet Biosciences' Denifanstat Imminent Phase 3: A Promising Investment Opportunity

Summary Sagimet Biosciences is a clinical-stage biopharmaceutical company researching a cure for metabolic dysfunction-related diseases by inhibiting fatty acid synthase. Revenue generated so far comes from licensing agreements, and no product sales are anticipated in the near future. SGMT's leading drug candidate, denifanstat, is progressing to phase 3 with successful trial results, targeting MASH, a leading cause of liver transplants. SGMT's balance sheet shows a cash runway of about 3.3 years, sufficient for Phase 3 trials. Still, I'm somewhat concerned due to a high rate of TEAEs related to denifanstat. Despite risks associated with clinical trials and adverse events, SGMT is a strong buy with significant upside potential in MASH. Read the full article on Seeking Alpha
Seeking Alpha • Jan 24

Sagimet: Additional Upside Possible After Latest NASH Data Release

Summary Primary endpoints and multiple secondary endpoints met in phase 2b FASCINATE study, using denifanstat for F2-F3 NASH patients with statistical significance. An end of phase 2 meeting and phase 3 trial initiation using denifanstat for the treatment of NASH patients with related fibrosis, is expected in 2024. The global non-alcoholic steatohepatitis market is expected to reach $20 billion by 2029. FASN pathway inhibition can also be used towards treating cancers and dermatological disorders. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has Dave Happel's remuneration changed compared to Sagimet Biosciences's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

-US$44m

Dec 31 2025US$3mUS$630k

-US$51m

Sep 30 2025n/an/a

-US$58m

Jun 30 2025n/an/a

-US$59m

Mar 31 2025n/an/a

-US$57m

Dec 31 2024US$906kUS$582k

-US$46m

Sep 30 2024n/an/a

-US$38m

Jun 30 2024n/an/a

-US$29m

Mar 31 2024n/an/a

-US$28m

Dec 31 2023US$3mUS$503k

-US$28m

Sep 30 2023n/an/a

-US$27m

Jun 30 2023n/an/a

-US$28m

Mar 31 2023n/an/a

-US$28m

Dec 31 2022US$7mUS$98k

-US$30m

Compensation vs Market: Dave's total compensation ($USD3.24M) is about average for companies of similar size in the US market ($USD2.63M).

Compensation vs Earnings: Dave's compensation has increased whilst the company is unprofitable.

CEO

Dave Happel (64 yo)

3.7yrs
Tenure
US$3,239,994
Compensation

Mr. David A. Happel, also known as Dave, has been Chief Executive Officer and Director of Sagimet Biosciences Inc. since October 2022 and serves as its President since October 2022. From March 2020 through...

Leadership Team

NamePositionTenureCompensationOwnership
David Happel
CEO, President & Director3.7yrsUS$3.24m0.45%
$ 1.8m
Elizabeth Rozek
Chief Legal & Administrative Officer3.2yrsUS$1.50m0.11%
$ 455.7k
Urs Greber
Co-Founderno datano datano data
Lucas Pelkmans
Co-Founderno datano datano data
Thierry Chauche
CFO & Principal Accounting Officer2.1yrsUS$2.56m0.0048%
$ 19.2k
Marie O'Farrell
Chief Scientific Officer1.4yrsno datano data
Robert D'Urso
Senior Vice President of New Products1.8yrsno datano data
Andreas Grauer
Chief Medical Officerless than a yearno datano data
1.9yrs
Average Tenure
59yo
Average Age

Experienced Management: SGMT's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
David Happel
CEO, President & Director3.7yrsUS$3.24m0.45%
$ 1.8m
Beth Seidenberg
Lead Independent Director19.2yrsUS$316.28k0.21%
$ 858.3k
Elizabeth Grammer
Independent Director5.2yrsUS$179.86k0%
$ 0
George Kemble
Non-Executive Chairman10.7yrsUS$175.59k0.0091%
$ 36.7k
Timothy Walbert
Independent Director2.2yrsUS$182.36k0.0036%
$ 14.3k
Anne Phillips
Independent Director1.8yrsUS$157.11k0%
$ 0
Paul Hoelscher
Independent Director2.2yrsUS$184.86k0%
$ 0
Jennifer Jarrett
Independent Director1.8yrsUS$157.30k0%
$ 0
2.9yrs
Average Tenure
63yo
Average Age

Experienced Board: SGMT's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/10 02:37
End of Day Share Price 2026/06/10 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Sagimet Biosciences Inc. is covered by 12 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Eliana MerleBarclays
Edward NashCanaccord Genuity
Jonathan WollebenCitizens JMP Securities, LLC