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Acne: one US-listed biotech with a clinical-stage programme

Immunology & InflammationUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$673Muniverse median $1.20B
Allocated capital$673M$673M competing
Phase 3 or filed00 mid, 1 early
Pure plays1this indication only
Capital rank181/299crowding rank 192

Acne is uncontested. Sagimet Biosciences (SGMT) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with TVB-3567 in phase 1.

There is no public comparable to price it against, and SGMT runs clinical programmes in this indication and nothing else, so its $673M market cap is a direct read on what the market thinks this programme is worth.

Nothing here has reached Phase 3: 0 programmes in mid stage and 1 in early stage, so the field is still several years from a first approval.

$673M of allocated capital sits in Acne, ranking it 181st of 299 indications by the money committed to it.

Companies developing drugs for Acne 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
SGMTSagimet BiosciencesTVB-3567Phase 11$673MYes1 31 Mar 2027

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Acne counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Acne has one competitor and a median of $673M.

Immunology & Inflammation

Immunology & Inflammation holds $139B of the map's capital, 20.7% of the total, spread across 51 indications and 82 companies. 23 of those indications have more than one company competing.

See every Immunology & Inflammation indication on the map

Related indications in Immunology & Inflammation

Chronic Granulomatous Disease1 company · $673M · median $673MUncontestedXerostomia1 company · $671M · median $1.3BUncontestedPsoriatic Arthritis1 company · $646M · median $1.3BUncontestedInflammatory Bowel Disease1 company · $609M · median $3.0BUncontestedLupus Nephritis5 companies · $589M · median $516MOrphan cornerSystemic Sclerosis4 companies · $582M · median $540MOrphan cornerCeliac Disease1 company · $788M · median $1.6BUncontestedIgG4 Related Disease1 company · $536M · median $2.1BUncontested

Acne pipeline questions

Which biotech companies are developing drugs for Acne?

Sagimet Biosciences (SGMT, TVB-3567, Phase 1). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Acne.

How advanced is the Acne pipeline?

Of the 1 clinical-stage programme in Acne, 0 are in Phase 3 or filed, 0 are in mid-stage development and 1 is in early-stage development.

Is anyone else developing a drug for Acne?

No. SGMT is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Acne, which is why the indication is classified as uncontested.

When is the next Acne catalyst?

The next dated catalyst in Acne is SGMT on 31 Mar 2027. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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