Second Time Charm: Sagimet Biosciences Seeks Public Debut With $75M IPO
Portfolio Pulse from Vandana Singh
Sagimet Biosciences, a clinical-stage biopharmaceutical company, has filed with the SEC to raise up to $75 million in an IPO for the second time. The company is focused on developing fatty acid synthase inhibitors, with its lead drug candidate, denifanstat, in development for nonalcoholic steatohepatitis. Denifanstat recently met the primary endpoint in a planned interim readout of a Phase 2b trial.
June 26, 2023 | 4:47 pm
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Sagimet Biosciences is seeking a public debut with a $75 million IPO. The company's lead drug candidate, denifanstat, has shown positive results in a Phase 2b trial for nonalcoholic steatohepatitis.
Sagimet Biosciences' IPO filing indicates the company's intention to raise capital for further development of its drug pipeline. The positive results from the Phase 2b trial of denifanstat suggest potential for future growth and success in the market, which could positively impact the stock price in the short term.
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