Overview
- Sagimet Biosciences, which priced 29,166,700 Series A shares at $6.00 Monday, expects about $175 million in gross proceeds.
- The offering is slated to close on or about April 28, subject to customary closing conditions.
- The company says it will start a U.S. Phase 3 trial in the second half of 2026 for denifanstat, a fatty acid synthase inhibitor for moderate to severe acne, after supportive Phase 2 results and partner data from China.
- Shares jumped about 44% to 45% in intraday trading Monday after the financing and trial plans were announced.
- Sagimet plans to use the funds to run the acne Phase 3, progress TVB-3567 through Phase 2 results, advance a topical FASN drug to an FDA filing to begin human testing, and fund acne programs through 2028.