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Sagimet Biosciences (SGMT) has re-filed for a $75 million initial public offering.
The biotech didn’t specify terms in its most recent filing, but indicated in its filing timeline that it wanted to raise $75 million. The company hopes to list its shares on the stock exchange Nasdaq under the symbol SGMT.
Based in San Mateo, California, Sagimet develops therapies for nonalcoholic steatohepatitis (NASH). The company’s lead drug, denifanstat, is in Phase 2 testing.
Lead bookrunners on the deal include Goldman Sachs, TD Cowen, Piper Sandler and JMP Securities.
Sagimet first filed for an IPO in April 2021 with a target of $75 million. The company withdrew its application for registration in March 2022.
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