Sagimet Biosciences, Inc. Class A (SGMT) has released an update.
Sagimet Biosciences Inc. completed a public offering on January 30, 2024, selling 9 million shares at $12.50 each, resulting in $112.5 million in gross proceeds. The underwriters have an option to buy up to an additional 1.35 million shares. Net proceeds will fund development of denifanstat, TVB-3567, and other corporate activities. Goldman Sachs & Co. LLC, TD Cowen, Leerink Partners, and JMP Securities managed the offering, which was based on a previously filed and effective registration statement.
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For a comprehensive understanding of the announcement, you can read the full document here.