Study of NGM395 in Adult Participants

Inclusion Criteria: Part 1: 1. Body mass index (BMI) in the range of 27 - 45 kg/m², inclusive, at screening, with maximum body weight of 140 kg. Part 2: 2. Liver fat ≥8% as assessed by MRI-PDFF. 3. BMI in the range of 27 - 45 kg/m2, inclusive, with maximum body weight of 140 kg at screening. 4. Waist circumference \> 40 inches for males or \> 35 inches for females. Exclusion Criteria: Part 1: 1. Diagnosed with type 2 diabetes (T2D) and/or the use of metformin, dipeptidyl peptidase-4 (DPP4) inhibitors, sodium/glucose cotransporter 2 (SGLT2) inhibitors, sulfonylurea agents, acarbose, or insulin for T2D within 3 months prior to Screening. 2. Subjects with T2D managed with diet alone with HbA1c level \> 6.5% or fasting glucose ≥ 126 mg/dL at Screening. 3. History of bariatric surgery. 4. Fasting triglycerides \> 400 mg/dL at Screening. Part 2: 5. Diagnosed with type 2 diabetes with a HbA1c \>9.5%, on thiazolidinediones, sodium/glucose cotransporter 2 (SGLT2) inhibitors, acarbose, or insulin for T2D within 3 months prior to Screening.