Sagimet Biosciences reported 52-week results from an open-label extension evaluating denifanstat in moderate to severe acne vulgaris, while confirming an underwritten offering expected to generate approximately $115 million in gross proceeds. The trial followed 240 participants who transitioned from an initial 12-week study. Treatment success, defined as at least a two-point improvement in the Investigator's Global Assessment score to clear or almost clear skin, reached 56.7%. Average inflammatory lesions fell 76.9%, non-inflammatory lesions declined 66.9% and total lesions dropped 71.8%. Participants tolerated denifanstat through the year-long evaluation, with no drug-related serious adverse events or permanent drug-related discontinuations observed. Ascletis BioScience presented the findings at the European Academy of Dermatology and Venereology Congress and holds exclusive denifanstat rights in China, while Sagimet retains rights elsewhere. The offering comprises 8,750,010 Series A shares at $10.00 each or pre-funded warrants for 2,750,010 shares at $9.9999 per warrant, with proceeds supporting denifanstat's Phase 3 acne trial, pre-launch work, TVB-3567 through Phase 2 topline results, a topical FASN inhibitor program and general corporate purposes.