Sagimet Biosciences, a clinical-stage biopharmaceutical company based in San Mateo, California, experienced a nearly 10% surge in premarket trading following the announcement of positive top-line results from a Phase 2b study involving their lead drug candidate. The study focused on patients with non-alcoholic steatohepatitis (NASH), a chronic liver condition.
Denifanstat, the lead drug candidate, exhibited statistically significant improvements compared to the placebo in NASH resolution without fibrosis worsening for patients with biopsy-confirmed NASH and stage 2 or stage 3 fibrosis. These promising results have prompted Sagimet to plan the initiation of their Phase 3 program for denifanstat's development in NASH with related fibrosis during the second half of this year.
NASH affects approximately 17 million Americans, yet there are currently no FDA-approved drugs available for treatment. This pivotal research conducted by Sagimet Biosciences is a significant step towards addressing this unmet medical need.
As a reflection of the positive news, Sagimet's shares rose 9.4% in premarket trading, reaching $7.46 from the previous closing price of $6.82.