SGMT Sagimet Biosciences Inc

Oppenheimer⬆️ $SGMT's PT to $38 and reiterated Outperform after SGMT/Ascletis presented full 52-week Ph3 OLE data for denifanstat (deni) in moderate-to-severe acne at EADV and hosted a KOL event. $ASCLF $GALDY DRMA MDGL IVA LLY NVO ALGS VKTX Oppenheimer said -- We view the results as incrementally encouraging, particularly around continued efficacy improvement with longer treatment and durable safety. IGA success increased from 33% at Week 12 to ~58% at the end of the OLE, while total/inflammatory lesion reductions similarly improved from 57%/64% to 73%/78%, respectively. Importantly, longer exposure did not appear to compromise tolerability, with no AE-related permanent discontinuations or drug-related SAEs. We believe these findings further strengthen deni's differentiated profile and support the potential for longer treatment duration in real-world practice. We update our model and increase our PT to $38 (vs. prior $33), driven by our assumption of a longer treatment duration.

$SGMT Goldman pulled the same stunt with Immunomedix a few years ago with a $5 target when it was in the $30S. Gilead paid $88 for it in a BO. Goldman, the great stock manipulator cannot be trusted with their 'research'

$SGMT the best roast without being unfair to the analyst (eg not criminal etc) is that she isn't good at her job as much as she'd like to be. The publicly reported Goldman thesis appears materially less developed than the underlying clinical evidence.

$SGMT My 2cents on this offering and data. The data is strong as Happel had indicated but a little shy of accutane results. They are about 80% of accutane but with a much stronger safety profile. Only AEs are dry eye and skin. That means deni can be taken safely for a much longer period of time. The 52wk only cohort showed better results than the 12wk Placebo/40 wk deni cohort suggesting that there may be additional benefits beyond 52 wks. I'm a little disappointed by the offering this early but it was clearly motivated by reverse inquiry. This offering is priced 66.7% above the last offering and was led by a lot of the previous investors from the last offerring. They are averaging up not down. For clinical stage bios, more cash is always better than less cash but I think they should have waited till after the EADV numbers. Also, we now know the motivation beyond the BS sell rating. They most likely wanted to be involved in the offering and were rebuffed.

$SGMT Highlights from the KOL (2/2): -Max treatment effect around the 24wk timeframe and it's maintained if you stay on treatment. -There was very good compliance in the OLE. 1% drop out rate -deni is a day 1 treatment with topical. Per Dr. Harper doctors usually want to end antibiotics, not the patient. -When asked about compliance from the teen population in P3. Dr. Grauer said we are not expecting a loss in compliance. Other acne studies with teens showed only 1% non-compliance. They will use smart bottles and enlist parent participation to help mitigate possible problems. -HCW asked if this is an indefinite therapy? Per Dr. Harper, from a safety standpoint, there's no reason not to be a long term treatment. -Per Dr. Harper, “for guys, this is it. No reason NOT to use deni.” -GS analyst either not on the call or did not ask any questions.

$SGMT they wasted no time on that offering lol Just peanuts in the grand scheme of things. Great data and f*ck Goldman sacks lol

$SGMT The guys at Goldman Sachs looking at DEI hire Andrea Newkirk's latest downgrade at SGMT be like...

$SGMT Goldman Analyst is an outlier with a poor track record. Her 2 main arguments are scientifically weak. 1. Adolescent enrollment may reduce Phase 3 result. If this were true, why did the FDA ask SGMT to include this group. Teen compliance arises from the toxcity of current therapies(Accutane, retinoids), not from acne biology which is the same regardless of region. Her 2nd point was that the acne market is generic. This mischaracterizes the market because its underserved, stagnant, and dominated by sub-optimal or toxic treatments. A safe effective once-daily oral systemic drug with no REMS or antibiotic resistance issues would be a game changer. Despite this analyst's weak construct, there is no change to SGMT investment thesis and strong fundamentals.

$SGMT I don't believe that the GS analyst understands the acne market. The only options are antibiotics and a toxic treatment that most patients, especially young ones, do not continue. This is precisely why the regulators asked them to include teens in the phase 3. GS often puts sell ratings on stocks they're long or long/short on. It sure hurts to see this drop.

$SGMT I had ChatGPT take a deep look at the SGMT move and Goldman’s $7.X target. Short version: Goldman is a major outlier, and nothing fundamental appears to have changed today besides one analyst’s opinion. Goldman has actually had this pattern with SGMT before — they cut their target from $23.X to $6.X back in 2024. The new analyst is essentially continuing that bearish view at $7. Meanwhile, the Chinese Phase 3 produced strong results across its major endpoints (p<0.0001), China accepted the NDA, the FDA cleared the U.S. Phase 3 to proceed, and SGMT reported ~$258M in cash/securities in June. Goldman’s concern is mainly whether the results translate to the U.S. trial, particularly with more adolescents enrolled. That’s a real risk, but it’s not new clinical data. Other recent analyst targets are roughly $18–31. So for now this looks like one very bearish analyst/firm versus a much more bullish consensus, with no new trial failure or regulatory setback driving the move.

$SGMT On Feb 5, 2026, Andrea Newkirk from Goldman Sachs issued a sell rating on IOVA with PT $2. IOVA is trading at $10+ today. One person's opinion doesn't change the fundamentals of a company.

$SGMT whatever happens today, we’re just a few weeks away from the start of some highly interesting updates. this company continues to show its leadership is competent, not just for their own pockets but for shareholders. every move they’ve made in the last 2 years has been cleverly beneficial to us all. look forward to the speculatively good results soon!

$SGMT Andrea got scolded yesterday and her boss said you better do a better job if you plan on staying here.

$SGMT Two weeks ago Cantor initiated w/ Buy & issued 92 page detailed analysis report. Stock moved up 15 cents. Goldman issues skimpy report saying teens may not adhere to daily pill & stock tanks 15%. I call BS on that. Adding here. EADV next week.

$SGMT and just like that this mudhaphukka is above $9. With biotech doing so shitty and this just post offering. 💪 I am so proud of you 👏 saggy

$SGMT hey Goldman! I need some cheap a$$ sagimet shares. Can you make it happen? Goldman- on it…… Algo - reverse - stop loss raid x5

$SGMT is it a coincidence that this is like the only green bio after so much accumulation the last few weeks?

$SGMT I guess this is the new norm now-we have the morning dump to only climb back up the last 30 minutes of the day back to some equilibrium.

$SGMT unfortunately they have no other PR or cards to play until the end of the year. This is roadkill until then. Pick your spots on when to add. GLTA

$SGMT presented positive 52-week denifanstat results at the Fall Clinical Dermatology Conference.