SGMT Prices $175M Common Stock Offering for Clinical Trials

Sagimet Biosciences Inc. announced the pricing of an underwritten offering of 29,166,700 shares of its Series A common stock at $6.00 per share, expecting gross proceeds of approximately $175.0 million. The offering, which included participation from new and existing investors, is anticipated to close around April 28, 2026. The company intends to use the net proceeds to fund a Phase 3 clinical trial for denifanstat in acne, advance TVB-3567 through Phase 2 results, and progress a topical FASN inhibitor to IND submission, along with general corporate purposes. This financing is expected to fund its acne programs through 2028.