Sagimet Biosciences Phase 3 Trial of Denifanstat as Acne Treatment Has High Success Probability, Wedbush Says

11:32 AM EDT, 10/01/2026 (MT Newswires) -- Sagimet Biosciences' (SGMT) planned phase 3 study of denifanstat as acne treatment should have a high probability of success based on previous clinical data and expert opinion, Wedbush Securities said in a Thursday note. Wedbush said the product candidate continued to demonstrate improvement across all co-primary endpoints and key secondary endpoints after the main 12-week treatment period and adverse effects were consistent overall. Denifanstat has the potential to be approved as a front-line therapy for moderate to severe acne, based on its mechanism of action that normalizes sebum production, along with strong safety and tolerability, the brokerage noted. Top-line data from the phase 3 study could be ready by year-end 2027 to back a new drug application in 2028, Wedbush added. Wedbush has an outperform rating and $28 price target on Sagimet Biosciences. Price: 9.49, Change: -0.40, Percent Change: -4.00