Sagimet Biosciences Inc. - Series A · NASDAQ:SGMT

Sagimet Biosciences Inc. - Series A — Sagimet Biosciences — Technical Presentation (April 2026)

17 slides from Sagimet Biosciences Inc. - Series A's technical presentation, Apr 15, 2026

  1. Slide 1: Reduction of plasma glycine- and taurine-conjugated bile acids correlated with histological improvements

    Reduction of plasma glycine- and taurine-conjugated bile acids correlated with histological improvements in denifanstat-treated MASH patients in Phase 2b FASCINATE-2 trial Wen-Wei Tsai, Ph.D. April 15th, 2026 1

  2. Slide 2: Outline

    Outline • Introduction of fatty acid synthase (FASN) and denifanstat MOAs • Denifanstat histological results in Phase 2b FASCINATE-2 trial in F2/F3 MASH • Correlation between bile acid changes and histological responses 2

  3. Slide 3: FASN Plays a Key Role in Three Major Cell Types in MASH

    FASN Plays a Key Role in Three Major Cell Types in MASH Denifanstat Increases Increases Increases Fatty acids Cytokines Fibrogenesis Triglycerides Chemokines Cell activation Lipotoxins Cell activation DNL: de novo lipogenesis 3

  4. Slide 4: FASN Inhibition Directly Blocks Human Liver Stellate Cell Function

    FASN Inhibition Directly Blocks Human Liver Stellate Cell Function Stellate cells require DNL for fibrogenesis Primary human stellate cell assay Denifanstat blocks stellate cell activation Denifanstat directly inhibits fibrogenic activity Denifanstat • Stimulated by TGF-beta to activate fibrogenesis

  5. Slide 5: FASCINATE-2: Biopsy Trial Design Focused on Histological Endpoints

    FASCINATE-2: Biopsy Trial Design Focused on Histological Endpoints Denifanstat (50 mg) Primary endpoints Screening Placebo • NAS ≥2 points improvement w/o worsening of fibrosis Study Weeks • MASH resolution + NAS ≥2 improvement w/o 0 52 worsening of fibrosis Baseline Final Selected secondary endpoin

  6. Slide 6: Histology Endpoints of MASH Resolution and Liver Fibrosis at Week 52

    Histology Endpoints of MASH Resolution and Liver Fibrosis at Week 52 Denifanstat Achieved Statistical Significance (Endpoints per FDA Draft Guidance 2020) Improvement in liver fibrosis ≥ 1 stage Resolution of MASH & No Worsening of MASH w/o worsening of fibrosis 41% 38% p=0.0051 p=0.0043 p=0.0102 %

  7. Slide 7: Additional Fibrosis Endpoint Analysis at Week 52

    Additional Fibrosis Endpoint Analysis at Week 52 Denifanstat Achieved Strong Improvement in F3 Population Fibrosis Endpoints Subgroup Placebo Denifanstat p-value All pts 18% 41% 0.0102** >1 stage improvement in fibrosis w/o worsening of MASH F3 only 13% 49% 0.0032** All pts 2% 20% 0.0065** >2 stage

  8. Slide 8: Denifanstat Decreased Conjugated Bile Acids Over Time in MASH Patients

    Denifanstat Decreased Conjugated Bile Acids Over Time in MASH Patients W4 W13 W26 W52 Bile acids Changes from baseline to W52 Wilcoxon-signed rank test 8

  9. Slide 9: Denifanstat Specifically Decreased Glycine- and Taurine-Conjugated Bile Acids at Week 52

    Denifanstat Specifically Decreased Glycine- and Taurine-Conjugated Bile Acids at Week 52 in MASH Patients Week 52 vs Baseline Bile acids Placebo Denifanstat log(rob. FC) % Change p-val log(rob. FC) % Change p-val Cholic acid -0.34 -21 0.278 -0.24 -15 0.956 Deoxycholic acid 0.02 1 0.949 0.05 3 0.409

  10. Slide 10: G/T-BAs Were Reduced at Week 52 in Denifanstat-Treated Fibrosis Responders

    G/T-BAs Were Reduced at Week 52 in Denifanstat-Treated Fibrosis Responders Denifanstat Denifanstat G/T-BAs: glycine- and taurine-conjugated bile acids; Wilcoxon signed-rank test p-values: *p<0.05; **p<0.01; ***p<0.001. 10

  11. Slide 11: G/T-BAs Were Reduced at Week 52 in Denifanstat-Treated MASH Resolution Responders

    G/T-BAs Were Reduced at Week 52 in Denifanstat-Treated MASH Resolution Responders Denifanstat Denifanstat G/T-BAs: glycine- and taurine-conjugated bile acids; Wilcoxon signed-rank test p-values: *p<0.05; **p<0.01; ***p<0.001. 11

  12. Slide 12: Two G/T-BAs Were Significantly Reduced at Week 4 in Fibrosis Responders

    Two G/T-BAs Were Significantly Reduced at Week 4 in Denifanstat-Treated Fibrosis Responders Denifanstat Denifanstat G/T-BAs: glycine- and taurine-conjugated bile acids; Wilcoxon signed-rank test p-values: *p<0.05. 12

  13. Slide 13: Three G/T-BAs Were Significantly Reduced at Week 13 in Fibrosis Responders

    Three G/T-BAs Were Significantly Reduced at Week 13 in Denifanstat-Treated Fibrosis Responders Denifanstat Denifanstat GG/T-BAs: glycine- and taurine-conjugated bile acids; Wilcoxon signed-rank test p-values: *p<0.05; **p<0.01. 13

  14. Slide 14: Five G/T-BAs Were Significantly Reduced at Week 26 in Fibrosis Responders

    Five G/T-BAs Were Significantly Reduced at Week 26 in Denifanstat-Treated Fibrosis Responders Denifanstat Denifanstat G/T-BAs: glycine- and taurine-conjugated bile acids; Wilcoxon signed-rank test p-values: *p<0.05; **p<0.01; ***p<0.001. 14

  15. Slide 15: Glycodeoxycholic Acid Was Reduced at Week 4 in Fibrosis Responders

    Glycodeoxycholic Acid Was Reduced at Week 4 in Fibrosis Responders Wilcoxon signed-rank test compared to baseline. 15

  16. Slide 16: Tauro-Deoxycholic/Chenodeoxycholic Acids Were Reduced at Week 4 in Fibrosis and MASH Responders

    Tauro-Deoxycholic/Chenodeoxycholic Acids Were Reduced at Week 4 in Fibrosis and MASH Responders Wilcoxon signed-rank test compared to baseline. 16

  17. Slide 17: Acknowledgements

    Acknowledgements • Investigators, sites and patients involved in FASCINATE-2 trial • Sagimet team • Sagimet advisors • Rubio Metabolomics team 17

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