On September 30, 2026, Sagimet Biosciences Inc. entered into an underwriting agreement for a public offering of 8,750,010 shares of Series A common stock at $10.00 per share and pre-funded warrants to purchase up to 2,750,010 additional shares at $9.9999 per share. The transaction is expected to close on October 1, 2026, generating net proceeds of approximately $107.5 million after underwriting discounts. The company intends to use these funds to finance a Phase 3 clinical trial for denifanstat in acne, pre-launch activities, and the advancement of its topical formulation FASN inhibitor program to IND submission. Sagimet Biosciences Inc. operates in the biotechnology industry, focusing on the development of small molecule inhibitors for inflammatory diseases.
