Sagimet Biosciences Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
SGMT$10.89+0.6%Stored close · as of Nov 10, 2026
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Condensed Statements of Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended March 31, | ||||||
| · · 2024 · · 2023 | ||||||
| Cash flows from operating activities: · · | ||||||
| Net loss | | $(6,629) | | $(6,587) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | ||||
| Accretion of discount on marketable securities, net | | (193) | | (35) | ||
| Non-cash lease expense | | 36 | | 34 | ||
| Stock-based compensation expense | | 759 | | 767 | ||
| Change in fair value of stock warrant liability | | | — | | | 2 |
| Changes in operating assets and liabilities: | | | ||||
| Prepaid expenses and other current assets | | 640 | | (37) | ||
| Accounts payable and accrued liabilities | | (782) | | (1,193) | ||
| Operating lease liabilities | | (39) | | (35) | ||
| Net cash used in operating activities | | (6,208) | | (7,084) | ||
| Cash flows from investing activities: | | | ||||
| Sales of marketable securities | | 3,000 | | 19,400 | ||
| Net cash provided by investing activities | | 3,000 | | 19,400 | ||
| Cash flows from financing activities: | | | ||||
| Proceeds from sale of Series A common stock, net of underwriter commissions and discounts | | | 105,750 | | | — |
| Proceeds from exercise of stock options | | 114 | | — | ||
| Payment of financing costs | | | (1,018) | | | (136) |
| Net cash provided by (used in) financing activities | | 104,846 | | (136) | ||
| Net increase in cash and cash equivalents | | 101,638 | | 12,180 | ||
| Cash and cash equivalents at beginning of period | | 75,139 | | 158 | ||
| Cash and cash equivalents at end of period | | $176,777 | | $12,338 | ||
| | | | | | | |
| Supplemental non-cash investing and financing activities: | | | | | | |
| Deferred financing costs within accounts payable and accrued expenses | | $— | | $1,197 | ||
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