Sagimet Biosciences (SGMT) reported that denifanstat met all primary and secondary endpoints in a Phase 3 clinical trial for the treatment of moderate to severe acne vulgaris conducted by Sagimets license partner Ascletis Bioscience in China. Denifanstat is a once-daily oral small molecule fatty acid synthase inhibitor being developed by Ascletis as ASC40 for acne in China and by Sagimet for MASH in the rest of world.
Ascletis has indicated that it plans to submit denifanstat for approval to the China National Medical Products Administration. Building on Ascletis positive Phase 3 results, Sagimet has initiated a Phase 1 first-in-human clinical trial with a second oral FASN inhibitor drug candidate, TVB-3567, that is planned to be developed for acne in the U.S.
Shares of Sagimet are up 45% in pre-market trade on Wednesday.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.