Promising Developments in Sagimet Biosciences: IND Clearance for TVB-3567 and Ongoing Success of Denifanstat

Promising Developments in Sagimet Biosciences: IND Clearance for TVB-3567 and Ongoing Success of Denifanstat

Debanjana Chatterjee, an analyst from JonesTrading, reiterated the Buy rating on Sagimet Biosciences, Inc. Class A (SGMTResearch Report). The associated price target is $42.00.

Debanjana Chatterjee’s rating is based on several promising developments at Sagimet Biosciences, Inc. The company has recently announced the clearance of an Investigational New Drug (IND) application for TVB-3567, a new fatty acid synthase inhibitor (FASNi) aimed at treating acne. This development sets the stage for a Phase 1 trial in 2025, which will assess the safety and pharmacokinetics of TVB-3567 in healthy volunteers before moving on to participants with acne.
Furthermore, Sagimet’s first FASNi, denifanstat, has already demonstrated significant efficacy in reducing acne lesions during a Phase 2 trial. With ongoing Phase 3 trials in China through their partner Ascletis, the potential success of denifanstat could significantly de-risk the TVB-3567 program. The large market potential in the U.S., where millions are treated for acne annually, further supports the Buy rating as positive trial outcomes could drive stock value upwards.

In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $31.00 price target.

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