India, June 4 -- Sagimet Biosciences Inc. (SGMT) surged 14.60 percent to $4.16 on Wednesday, gaining $0.41 after announcing positive results from a Phase 3 clinical trial of denifanstat for moderate to severe acne vulgaris. The trial, conducted by its Chinese license partner Ascletis Bioscience, met all primary and secondary endpoints. SGMT opened at $4.02 and traded between $3.83 and $4.64 during the session on the Nasdaq. The stock's 52-week range is $1.73 to $7.38, with volume spiking to 19.7 million shares, well above its average of 480,482.
Denifanstat, also known as ASC40 in China, is a once-daily oral FASN inhibitor. While Ascletis develops the drug for acne in China, Sagimet is advancing it globally for metabolic dysfunction-associ...