Sagimet Biosciences Inc.

Analysis for Ticker: SGMT

Sagimet Biosciences Inc is a clinical-stage pharmaceutical company that claims to be developing specialized chemicals to treat liver disease and severe acne. In reality, the company is a sixteen-person office that owns no manufacturing plants, operates no laboratories, and has never generated one dollar in commercial sales. Since its inception, it has managed to lose 336,8$ million. This is a mathematical disaster because the company survives solely by printing new pieces of ownership and selling them to investors to pay for its massive overhead. It is a system where the company pays for its existence by slowly selling off its own future, piece by piece, until nothing remains.