SAN MATEO, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) — Sagimet Biosciences Inc. (“Sagimet”) (Nasdaq: SGMT), a clinical-stage biopharmaceutical firm creating novel fatty acid synthase (FASN) inhibitors designed to focus on dysfunctional metabolic and fibrotic pathways, right now introduced the graduation of an underwritten public providing of 9,000,000 shares of its Sequence A standard inventory. The entire shares within the proposed providing are to be offered by Sagimet. As well as, Sagimet expects to grant the underwriters a 30-day choice to buy as much as an extra 1,350,000 shares of its Sequence A standard inventory within the providing. The providing is topic to market and different situations, and there may be no assurance as as to whether or when the providing could also be accomplished, or as to the precise dimension or phrases of the providing.
Goldman Sachs & Co. LLC, TD Cowen and Leerink Companions are performing as joint book-running managers for the providing. JMP Securities, A Residents Firm, is performing because the lead supervisor for the providing.
A registration assertion regarding the shares being offered on this providing has been filed with the Securities and Alternate Fee (the “SEC”), and is offered on the SEC’s web site situated at www.sec.gov, however has not but turn into efficient. The shares will not be offered, nor might affords to purchase be accepted, previous to the time this registration assertion turns into efficient. This providing is being made solely via a written prospectus. Copies of the preliminary prospectus regarding the proposed providing could also be obtained from: Goldman Sachs & Co. LLC, Consideration: Prospectus Division, 200 West Road, New York, NY 10282, by phone at (866) 471-2526, or by electronic mail at prospectus-ny@ny.electronic mail.gs.com; Cowen and Firm, LLC, 599 Lexington Avenue, New York, NY 10022, by electronic mail at Prospectus_ECM@cowen.com, or by phone at (833) 297-2926; or Leerink Companions LLC, Consideration: Syndicate Division, 53 State Road, 40th Ground, Boston, MA 02109, by phone at (800) 808-7525, ext. 6105, or by electronic mail at syndicate@leerink.com.
This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase these securities, nor will there be any sale of those securities in any state or jurisdiction through which such provide, solicitation or sale could be illegal previous to the registration or qualification beneath the securities legal guidelines of any such state, province, territory or different jurisdiction.
About Sagimet Biosciences
Sagimet is a clinical-stage biopharmaceutical firm creating novel fatty acid synthase (FASN) inhibitors which might be designed to focus on dysfunctional metabolic pathways in ailments ensuing from the overproduction of the fatty acid palmitate. Sagimet’s lead drug candidate, denifanstat, is an oral, once-daily tablet and selective FASN inhibitor in improvement for the remedy of NASH, for which there are not any remedies presently permitted in the USA or Europe. FASCINATE-2, a Section 2b medical trial of denifanstat in NASH with liver biopsy-based major endpoints, was efficiently accomplished with constructive outcomes.
Ahead-Trying Statements
This press launch accommodates forward-looking statements. Buyers are cautioned to not place undue reliance on these forward-looking statements, together with, with out limitation, statements in regards to the anticipated completion, timing and dimension of the proposed public providing and the grant to the underwriters of the choice to buy extra shares. Every forward-looking assertion is topic to dangers and uncertainties that might trigger precise outcomes to vary materially from these expressed or implied in such assertion. Relevant dangers and uncertainties embody these associated to market situations and satisfaction of customary closing situations associated to the proposed providing. There may be no assurance as as to whether or when the providing could also be accomplished, or as to the precise dimension or phrases of the providing. Relevant dangers additionally embody these recognized beneath the heading “Danger Elements” within the preliminary prospectus that types part of the registration assertion filed with the SEC. These forward-looking statements communicate solely as of the date of this press launch. Elements or occasions that might trigger Sagimet’s precise outcomes to vary might emerge sometimes, and it’s not attainable for Sagimet to foretell all of them. Sagimet undertakes no obligation to replace any forward-looking assertion, whether or not on account of new info, future developments or in any other case, besides as could also be required by relevant regulation.
Contact:
Maria Yonkoski
ICR Westwicke
203-682-7167
maria.yonkoski@westwicke.com
