$SGMT

Sagimet Biosciences (SGMT) announced positive 52-week results from a Phase 3 trial of denifanstat for acne, showing 57% IGA success and significant lesion reductions. The trial, conducted by license partner Ascletis in China, supports FASN inhibition as a novel acne treatment. Sagimet is advancing denifanstat into a U.S. Phase 3 trial, with screening underway.

Commodore Capital LP and associates reported a 7.6% ownership stake in Sagimet Biosciences Inc. (SGMT), comprising 5,507,752 shares, including 2,757,742 common shares and 2,750,010 shares acquirable through pre-funded warrants, subject to a 9.99% ownership limit.

HC Wainwright & Co. reiterated a Buy rating on Sagimet Biosciences (SGMT) with a $29 price target, implying a 217.3% upside from the Oct 2 close of $9.14. The firm cited strong efficacy data for denifanstat, showing a 31.7-lesion reduction in acne patients, and favorable long-term safety data. Recent analyst price targets for SGMT range from $10.71 to $38.

Sagimet Biosciences (NASDAQ: SGMT) reported 52-week acne data for denifanstat, showing significant lesion count reductions versus placebo. The company plans to launch a U.S. Phase III trial, AURORA, with 800 patients. Sagimet also announced a $150M financing, extending its cash runway to mid-2029. Denifanstat was well-tolerated, with mild to moderate adverse events. The company is advancing another FASN inhibitor, TVB-3567, through Phase I trials.

Guggenheim reiterated a Buy rating for Sagimet Biosciences with a $26 price target, suggesting a 177.5% upside from the Oct 1 close of $9.37. The firm cited promising Phase 3 trial data for denifanstat, showing strong efficacy and safety in treating acne, aligning with FDA guidance. Recent analyst price targets for SGMT range from $10.71 to $38.

Sagimet Biosciences (SGMT) fell 5% after partner Ascletis Pharma (ASCLF) released 52-week phase 3 trial results for acne drug denifanstat in China. The company also announced a stock offering.

Citizens maintained a Market Outperform rating on Sagimet Biosciences with a $27 price target, implying a 173.3% upside. The company has $366M in cash and expects Phase 3 and 2 data next year. Positive clinical results for denifanstat were also noted.

Cantor Fitzgerald maintained an Overweight rating on Sagimet Biosciences (NASDAQ:SGMT) after positive acne trial data and a $115M capital raise. Patients saw lesion count reductions of 75-80%, with minor side effects. The stock, up 89% in six months, trades at $9.88. Analysts have mixed price target adjustments, ranging from $18 to $38, based on trial results and market potential.

Sagimet Biosciences (SGMT) raised $107.5M via an underwritten offering of 8.75M shares at $10.00 each and pre-funded warrants for 2.75M shares at $9.9999 per warrant. The deal, led by Leerink, TD, and Guggenheim, is set to close on Oct 1, 2026. Proceeds will fund clinical trials, pre-launch activities, and general corporate purposes.

Sagimet Biosciences Inc. (SGMT) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. Item 1.01 Entry into a Material Definitive Agreement. On September 30, 2026, Sagimet Biosciences Inc. (the “ Company ”) entered into an underwriting agreement (the “ Underwriting Agreement ”) with Leerink Partners LLC, TD Securities (USA) LLC and Guggenheim Securities, LLC as rep