Sagimet Biosciences prices $115M offering: 8.75M shares at $10, 2.75M pre-funded warrants for Phase 3 acne trial

Sagimet Biosciences Inc.

Offering: 8,750,010 shares at $10.00 and pre-funded warrants for 2,750,010 shares at $9.9999 (gross ~$115M); net proceeds ~$107.5M; close Oct 1, 2026.
Proceeds fund Phase 3 trial of denifanstat in acne, pre-launch activities, TVB-3567 through Phase 2 topline, topical FASN inhibitor program to IND, and general corporate purposes.
Pre-funded warrants exercisable immediately at $0.0001/share; 4.99% beneficial ownership cap (9.99% at purchaser election), adjustable to 19.99% with 61 days' notice.
Leerink, TD Securities, Guggenheim and Oppenheimer are joint book-running managers; Canaccord Genuity, H.C. Wainwright, JonesTrading and Clear Street are co-lead managers.

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