By Katherine Hamilton
Sagimet Biosciences shares rose after the company said it had entered into a global licensing agreement.
The stock rose 13% to $6.83 on Wednesday. Shares are up 48% this year.
The San Mateo, Calif., biopharmaceutical company said Wednesday it signed an agreement with Assia Chemical Industries, doing business as TAPI, which is a subsidiary of Teva Pharmaceutical Industries.
Under the agreement, Sagimet will have a global exclusive license to certain intellectual property rights covering forms of the active pharmaceutical ingredient in TAPI's drug resmetirom.
The rights will be used for Sagimet's technical evaluation and manufacture, as well as potential further development of a fixed-dose combination product containing denifanstat and resmetirom.
Sagimet is developing trials to see if the combined drugs can effectively treat adults with metabolic dysfunction-associated steatohepatitis (MASH).
The company plans to move the trial into phase 2 in the second half of 2026.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 17, 2025 11:23 ET (16:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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