Sagimet Biosciences Stock Soars After Positive Data For Experimental Drug In Acne Study

• The trial was conducted by  Sagimet’s license partner for China, Ascletis Bioscience Co., in 480 patients with moderate to severe acne vulgaris.
• The company said that once daily oral 50 mg Denifanstat achieved highly statistically significant and clinically meaningful improvements across all primary and secondary efficacy endpoints in the study. 
• Ascletic said in October that it plans to submit a new drug application to China National Medical Products Administration for Denifanstat for the treatment of moderate-to-severe acne soon.
  

Shares of Sagimet Biosciences Inc. (SGMT) soared 22% by Friday afternoon after its Denifanstat drug yielded positive results in the treatment of acne in a late-stage trial.

The trial was conducted by Sagimet’s license partner for China, Ascletis Bioscience Co., in 480 patients with moderate to severe acne vulgaris. It was aimed at evaluating the safety and efficacy of Denifanstat in acne treatment.

Trial Takeaways

Acne vulgaris is a common skin condition caused by clogged hair follicles from oil and dead skin cells, which can result in whiteheads, blackheads, pimples, and in severe cases, painful nodules and cysts.

The company said that once daily oral 50 mg Denifanstat achieved highly statistically significant and clinically meaningful improvements across all primary and secondary efficacy endpoints. Primary endpoints included the percentage change in total lesion count, and the percentage change in inflammatory lesion count, among others.

At week 12, treatment success rates with Denifanstat were more than double those of placebo, with marked reductions in both inflammatory and non-inflammatory lesions, it noted.

Furthermore, the drug was generally well-tolerated, the company added.

Plans Ahead

Ascletis said in October that it plans to soon submit a new drug application to China National Medical Products Administration for Denifanstat for the treatment of moderate-to-severe acne.

Sagimet, meanwhile, is studying the drug in the treatment of metabolic dysfunction associated steatohepatitis, a serious form of liver disease, characterized by fat buildup, inflammation, and liver cell damage.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around SGMT stock jumped from ‘bearish’ to ‘bullish’ territory over the past 24 hours, while message volume increased from ‘normal’ to ‘extremely high’ levels.

A Stocktwits user sounded positive on the stock, citing the size of the Chinese market.

SGMT stock has nearly doubled this year. 

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