Sagimet Biosciences Inc Series A (NASDAQ:SGMT) shares rose more than 12% in pre-market trading on Wednesday following the release of 52-week results from license partner Ascletis’ Phase 3 open-label extension trial evaluating denifanstat in patients with moderate to severe acne.
The trial reported a 57% treatment success rate after 52 weeks of denifanstat treatment, alongside a 72% reduction in total lesions and a 77% reduction in inflammatory lesions.
Denifanstat was generally well tolerated during the study, with no permanent treatment discontinuations attributed to adverse events.
Phase 3 Extension Study Includes 240 Patients
The Phase 3 open-label extension trial enrolled 240 patients with moderate to severe acne who received denifanstat for up to 52 weeks.
The study population included 124 patients who had previously received placebo during the initial 12-week trial.
Treatment success was defined as achieving at least a two-point reduction in the Investigator’s Global Assessment score and reaching a score of either zero or one.
At 52 weeks, 57% of patients met that definition of treatment success.
The study also reported reductions of 72% in total acne lesions and 77% in inflammatory lesions over the treatment period.
Ascletis Presents Results at Dermatology Congress
The results were presented at the European Academy of Dermatology and Venereology Congress in Vienna by Ascletis BioScience Co. Ltd.
Ascletis holds an exclusive licence for denifanstat in China, where the treatment is being developed under the name ASC40.
Sagimet is separately preparing to advance the programme in the United States.
The company plans to begin patient screening for its AURORA U.S. Phase 3 clinical trial in October 2026.
The planned study is expected to enrol approximately 800 U.S. patients aged 12 years and older with moderate to severe acne.
Sagimet Prices Equity Offering
Separately, Sagimet announced the pricing of an underwritten offering of 8,750,010 shares of its Series A common stock at $10.00 per share.
The company said the offering is expected to generate approximately $115.0 million in gross proceeds before underwriting discounts and commissions.
The offering is expected to close on or around October 1, 2026.
Sagimet intends to use the net proceeds to fund its Phase 3 clinical trial of denifanstat in acne, support pre-launch activities and advance its other development programmes.
Sagimet Biosciences stock price
