Sagimet raises $164.5M in public offering to fund Phase 3 acne trial

Filed April 28, 2026 · Period ending April 27, 2026 · ~1 min read

Key Changes

• high

  Sagimet sold 29.2 million shares at $6.00 per share, raising $164.5M net after fees. This represents significant dilution to existing shareholders but funds critical clinical programs.

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• high

  Proceeds will fund a Phase 3 trial for denifanstat in acne (lead program), advance TVB-3567 through Phase 2 results, develop a topical FASN inhibitor to IND submission, and support operations.

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• low

  Offering was led by Leerink Partners, TD Securities, and Guggenheim Securities using the company's existing shelf registration from August 2024, enabling quick market access.

  Item 1.01 verify on EDGAR →