Sagimet Prices $115 Million Stock Offering at $10 per Share, SGMT Jumps 7.18% Pre-Market

Sagimet Biosciences Inc. (SGMT) priced an underwritten offering of 8.75 million Series A common shares at $10 each on September 30, 2026, raising approximately $115 million. Shares rose 7.18% to $10.00 in pre-market Nasdaq trading after closing 6.14% lower on September 29. Certain investors elected pre-funded warrants to purchase 2.75 million shares at $9.9999 per warrant, exercisable immediately at $0.0001 per share. All securities are sold by the company, with closing expected October 1, 2026, subject to customary conditions. Proceeds will fund a Phase 3 trial of Denifanstat in acne, pre-launch activities, advancement of TVB-3567 through Phase 2 results, an IND submission for its topical FASN inhibitor program, and general corporate purposes. Commodore Capital led the financing, joined by RA Capital Management, Spruce Street Capital, BVF Partners, Aberdeen Investments, Columbia Threadneedle, Affinity Asset Advisors and Woodline Partners. Leerink Partners, TD Cowen, Guggenheim Securities and Oppenheimer & Co. are joint bookrunners.