89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

89bio (Nasdaq: ETNB) has announced the approval of inducement grants for seven new employees by its Board's Compensation Committee. The grants consist of non-qualified stock options to purchase 183,885 shares of common stock, issued on May 6, 2025. These grants, made under the company's 2023 Inducement Plan, follow Nasdaq Listing Rule 5635(c)(4) and serve as employment incentives. The options' exercise price equals ETNB's closing price on the grant date and will vest over four years - 25% after one year and the remaining in 12 quarterly installments, contingent on continued employment.

SAN FRANCISCO, May 09, 2025 (GLOBE NEWSWIRE) -- 89bio, Inc. (the “Company” or “89bio”) (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases, today announced that the Compensation Committee of the Company’s Board of Directors approved the grant of non-qualified stock options to purchase an aggregate of 183,885 shares of the Company’s common stock to seven new employees (the “Inducement Grants”) on May 6, 2025 (the “Grant Date”). The Inducement Grants have been granted pursuant to the Company’s 2023 Inducement Plan (the “Plan”). The Inducement Grants were granted as an inducement material to these individuals entering into employment with 89bio in accordance with Nasdaq Listing Rule 5635(c)(4).

The Inducement Grants have an exercise price per share that is equal to the closing price of 89bio’s common stock on the Grant Date. The Inducement Grants will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employee’s start date, and thereafter the remainder of the shares vest in 12 equal quarterly installments, subject to each employee’s continued employment with 89bio through the applicable vesting dates.

About 89bio
89bio is a clinical-stage biopharmaceutical company dedicated to the development of best-in-class therapies for patients with liver and cardiometabolic diseases who lack optimal treatment options. The company is focused on rapidly advancing its lead candidate, pegozafermin, through Phase 3 clinical development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). Pegozafermin is a specifically engineered, potentially best-in-class fibroblast growth factor 21 (FGF21) analog with unique glycoPEGylated technology that optimizes biological activity through an extended half-life. The company is headquartered in San Francisco. For more information, visit www.89bio.com or follow the company on LinkedIn.

Investor Contact:
Annie Chang
89bio, Inc.
investors@89bio.com

PJ Kelleher
LifeSci Advisors, LLC
+1-617-430-7579
pkelleher@lifesciadvisors.com

Media Contact:
Sheryl Seapy
Real Chemistry
sseapy@realchemistry.com

FAQ

What is the size of ETNB's inducement grants announced on May 9, 2025?

89bio announced inducement grants for non-qualified stock options to purchase 183,885 shares of common stock for seven new employees.

What is the vesting schedule for ETNB's May 2025 inducement grants?

The inducement grants vest over 4 years, with 25% vesting after one year and the remainder vesting in 12 equal quarterly installments, subject to continued employment.

How were ETNB's inducement grants priced in May 2025?

The exercise price of the inducement grants equals 89bio's common stock closing price on the grant date of May 6, 2025.

What is the purpose of ETNB's inducement grants announced in May 2025?

The inducement grants were provided as material incentives for new employees joining 89bio, in accordance with Nasdaq Listing Rule 5635(c)(4).