Sagimet Biosciences Inc.
SGMTHealthcare|Biotechnology|US
$9.85
+0.73 (+8.00%)
DCF Value
$1.05
Tangible Book / Share
$4.82
Cash / Share
$4.52
Financials
Financial Snapshot
Market Cap
$320.9M
Enterprise Value
$157.0M
Revenue (TTM)
$0.00
Net Income (TTM)
-$47.1M
Cash & Investments
$240.1M
Net Cash
$238.2M
Free Cash Flow (TTM)
-$41.3M
Operating CF (TTM)
-$41.3M
Debt/Equity
0.01
Cash Runway & Burn Rate
Cash on Hand
$240.1M
Quarterly Burn
$10.3M
Monthly Burn
$3.4M
Est. Runway
~23.2 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $10.2M | $68.7M | $56.7M | $32.3M | $94.9M | $151.3M | $113.1M | $240.1M | |
| Operating Cash Flow | -$10.6M | -$10.4M | -$21.7M | -$24.5M | -$23.8M | -$42.4M | -$45.6M | -$41.3M | |
| Free Cash Flow | -$10.6M | -$10.4M | -$21.7M | -$24.5M | -$23.8M | -$42.4M | -$45.6M | -$41.3M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $18.5M | $68.9M | $9.7M | -$73.0K | $86.2M | $104.8M | $275.0K | $339.7M |
R&D Spending
R&D (TTM)
$35.0M
R&D Intensity
—
R&D Growth vs Prior
-10.4%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $2.0M | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $8.4M | $8.2M | $19.3M | $24.9M | $19.8M | $38.4M | $39.1M | $35.0M | |
| R&D % of Revenue | — | — | — | — | 988.9% | — | — | — | |
| SG&A | $5.7M | $3.2M | $4.4M | $6.1M | $13.0M | $16.0M | $17.8M | $17.6M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $2.0M | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $88.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | -$88.0K | $0.00 | $0.00 | $0.00 | $2.0M | $0.00 | $0.00 | $0.00 | |
| R&D | $8.4M | $8.2M | $19.3M | $24.9M | $19.8M | $38.4M | $39.1M | $35.0M | |
| SG&A | $5.7M | $3.2M | $4.4M | $6.1M | $13.0M | $16.0M | $17.8M | $17.6M | |
| Operating Income | -$14.2M | -$11.4M | -$23.7M | -$31.1M | -$30.7M | -$54.5M | -$56.9M | -$52.6M | |
| Interest Expense | $64.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$14.3M | -$11.4M | -$24.4M | -$30.5M | -$27.9M | -$45.6M | -$51.0M | -$47.1M | |
| Net Income | -$14.3M | -$11.4M | -$24.4M | -$30.5M | -$27.9M | -$45.6M | -$51.0M | -$47.1M | |
| EPS (Diluted) | -0.64 | -0.51 | -1.10 | -1.38 | -1.53 | -1.45 | -1.58 | -1.28 | |
| EBITDA | -$14.2M | -$11.3M | -$24.4M | -$30.4M | -$27.9M | -$45.6M | -$51.0M | -$49.7M | |
| Shares Out. (M) | 22.17 | 22.17 | 22.17 | 22.17 | 18.19 | 31.35 | 32.35 | 53.11 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $10.2M | $68.7M | $56.7M | $158.0K | $75.1M | $75.8M | $35.0M | $165.9M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $32.2M | $19.8M | $75.4M | $78.1M | $74.2M | |
| Total Current Assets | $10.8M | $68.7M | $58.7M | $32.8M | $96.6M | $152.8M | $116.4M | $244.0M | |
| Total Assets | $11.2M | $69.0M | $59.0M | $33.0M | $96.7M | $160.3M | $116.5M | $263.4M | |
| Total Current Liabilities | $2.1M | $1.9M | $2.4M | $5.3M | $5.7M | $4.5M | $5.1M | $5.4M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $136.5M | $204.9M | $217.3M | $220.0M | $5.7M | $4.5M | $5.1M | $7.3M | |
| Stockholders' Equity | -$125.3M | -$135.9M | -$158.3M | -$186.9M | $91.1M | $155.8M | $111.4M | $256.2M | |
| Retained Earnings | -$155.6M | -$166.9M | -$191.4M | -$221.9M | -$249.7M | -$295.3M | -$346.3M | -$371.0M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.6M | -$10.4M | -$21.7M | -$24.5M | -$23.8M | -$42.4M | -$45.6M | -$41.3M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$10.6M | -$10.4M | -$21.7M | -$24.5M | -$23.8M | -$42.4M | -$45.6M | -$41.3M | |
| Investing Cash Flow | -$27.0K | $20.0K | $0.00 | -$32.0M | $12.6M | -$61.7M | $4.6M | $629.0K | |
| Financing Cash Flow | $18.5M | $68.9M | $9.7M | -$73.0K | $86.2M | $104.8M | $275.0K | $339.7M | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $12.0K | $89.7M | $105.8M | $275.0K | $175.3M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | -$3.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $3.0M | $775.0K | $1.9M | $1.9M | $5.0M | $5.3M | $6.4M | $8.9M | |
| Net Change in Cash | $7.9M | $58.5M | -$12.0M | -$56.6M | $75.0M | $701.0K | -$40.8M | $299.0M |
Dilution Tracker
Shares outstanding grew 45.9% over 5 years — significant dilution
Shares Outstanding
33M
5-Year Share Growth
+45.9%
Stock Issuance (TTM)
$175.3M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 22.17 | 22.17 | 22.17 | 22.17 | 18.19 | 31.35 | 32.35 | 53.11 | |
| Change vs Prior % | — | 0.0% | 0.0% | 0.0% | -17.9% | 72.3% | 3.2% | 64.2% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $12.0K | $89.7M | $105.8M | $275.0K | $175.3M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $3.0M | $775.0K | $1.9M | $1.9M | $5.0M | $5.3M | $6.4M | $8.9M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | — | — | 100.0% | — | — | — | |
| Operating Margin % | — | — | — | — | -1537.0% | — | — | — | |
| Net Margin % | — | — | — | — | -1393.8% | — | — | — | |
| EBITDA Margin % | — | — | — | — | -1393.8% | — | — | — | |
| FCF Margin % | — | — | — | — | -1188.3% | — | — | — | |
| ROE % | 11.4% | 8.4% | 15.4% | 16.3% | -30.6% | -29.2% | -45.8% | -32.0% | |
| ROA % | -127.8% | -16.5% | -41.4% | -92.3% | -28.8% | -28.4% | -43.8% | -17.9% | |
| ROIC % | -153.7% | -17.0% | -41.8% | -111.4% | -33.7% | -34.9% | -51.0% | -20.4% | |
| R&D / Revenue % | — | — | — | — | 988.9% | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -100.0% | 0.0% | |
| Gross Profit | 0.0% | 100.0% | 0.0% | 0.0% | 0.0% | -100.0% | 0.0% | |
| Operating Income | 0.0% | 19.5% | -108.1% | -30.9% | 1.0% | -77.1% | -4.5% | |
| Net Income | 0.0% | 20.3% | -115.0% | -24.8% | 8.6% | -63.5% | -12.0% | |
| EPS (Diluted) | 0.0% | 20.3% | -115.7% | -25.5% | -10.9% | 5.2% | -9.0% | |
| Operating Cash Flow | 0.0% | 1.3% | -108.4% | -12.8% | 3.0% | -78.6% | -7.6% | |
| Free Cash Flow | 0.0% | 1.3% | -108.4% | -12.8% | 3.0% | -78.6% | -7.6% | |
| R&D Expense | 0.0% | -2.5% | 136.4% | 28.8% | -20.6% | 94.4% | 1.6% | |
| SG&A Expense | 0.0% | -43.3% | 36.1% | 40.1% | 111.3% | 23.5% | 11.4% | |
| Total Assets | 0.0% | 517.9% | -14.4% | -44.0% | 192.8% | 65.7% | -27.3% | |
| Book Value / Share | 0.0% | -8.5% | -16.4% | -18.1% | 159.4% | -0.7% | -30.7% | |
| Debt | 0.0% | -38.4% | 65.7% | -39.4% | -69.2% | 20.0% | 0.0% | |
| Diluted Shares | 0.0% | 0.0% | 0.0% | 0.0% | -17.9% | 72.3% | 3.2% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B2.04
10Y Low / Med / High0.91 / 1.08 / 1.72
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.05
Tangible Book / Share
$4.82
Net Current Assets / Share
$7.27
Graham Net-Net
$4.38
Cash / Share
$4.52
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -24.92 | -31.27 | -14.50 | -11.56 | -3.54 | -3.10 | -3.75 | -7.70 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 49.31 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -2.82 | -2.60 | -2.23 | -1.89 | 1.08 | 0.91 | 1.72 | 2.04 | |
| EV/EBITDA | -24.22 | -25.29 | -12.16 | -11.65 | -0.84 | -1.43 | -3.07 | -3.16 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 11.77 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
24.96
Safe
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $111.1K | $8.1M | $24.2M |
| Net Income | -$36.3M | -$42.4M | -$57.3M |
| EPS | $-1.13 | $-1.34 | $-1.58 |
| # Analysts (EPS) | 8 | 8 | 9 |