Sagimet, NASH liver disease drug developer, sets terms for $75M IPO (Pending:SGMT)

Sagimet Biosciences (SGMT), which has been growing therapies for liver illnesses reminiscent of NASH, has set phrases for a proposed $75M preliminary public providing.

In its newest SEC submitting, Sagimet mentioned it was contemplating providing 4.7M shares priced between $15 and $17, which might increase $75M if priced on the midpoint. Underwriters can be given a 30-day possibility to purchase as much as 703K extra shares to cowl over-allotments.

Sagimet intends to listing its shares on Nasdaq underneath the image SGMT. Bookrunners embody Goldman Sachs, TD Cowen, Piper Sandler and JMP Securities.

Based mostly in San Mateo, Calif., Sagimet has been growing therapies for nonalcoholic steatohepatitis, or NASH. The corporate lead drug, denifanstat, is in Section 2 testing.

The biotech firm re-filed for the IPO in June.

Extra on Sagimet:

Sagimet Biosciences refiles for proposed $75M IPO Sagimet Biosciences Begins $75 Million IPO Plan