Sagimet Biosciences prices public offering of 9M shares at $12.50/share, raising $112.5M gross

Sagimet Biosciences Inc.

Priced 9,000,000 shares of Series A common stock at $12.50/share; gross proceeds ~$112.5M before expenses.
Underwriters granted 30-day option to purchase up to 1,350,000 additional shares at the offering price.
Net proceeds to fund denifanstat Phase 3 program in NASH, TVB-3567 IND for acne, and general corporate.
Offering closed January 30, 2024; Goldman Sachs, TD Cowen, and Leerink acted as joint book-running managers.
All shares sold by Sagimet; no selling stockholders in the offering.

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