89Bio, Inc. Stock Price, News & Analysis

89bio (Nasdaq: ETNB) has announced a proposed underwritten public offering of $250.0 million of common stock and pre-funded warrants. The company will grant underwriters a 30-day option to purchase up to an additional $37.5 million of shares. The proceeds will fund ongoing clinical activities and development of pegozafermin, manufacturing costs, and general corporate purposes.

The offering is being led by Goldman Sachs & Co. , Leerink Partners, and BofA Securities, with Cantor acting as book-running manager. The securities will be offered through an automatically effective shelf registration statement filed with the SEC on May 23, 2023.

89bio (ETNB) provided a corporate update and business outlook for 2025, highlighting key developments in their clinical programs. The company completed enrollment in the Phase 3 ENTRUST trial for severe hypertriglyceridemia (SHTG), with topline 26-week data expected in H2 2025. The Phase 3 ENLIGHTEN program for MASH (metabolic dysfunction-associated steatohepatitis) continues patient enrollment across both trials.

The company strengthened its financial position with $440 million in cash and equivalents as of December 31, 2024, bolstered by a $143.8 million equity offering and a credit facility up to $150 million with K2 HealthVentures. 89bio received regulatory feedback from FDA and EMA regarding pegozafermin's marketing requirements and enhanced its leadership team with four industry veterans in key positions.

89bio (Nasdaq: ETNB) announced that its Compensation Committee approved an inducement grant of non-qualified stock options to one new employee. The grant, made under the company's 2023 Inducement Plan, allows for the purchase of 48,000 shares of common stock at an exercise price equal to the closing price on December 13, 2024. The options will vest over four years, with 25% vesting after one year and the remaining portion vesting in 12 equal quarterly installments, contingent on continued employment.

89bio announced the approval of non-qualified stock options to purchase 49,800 shares of common stock granted to four new employees on November 25, 2024. These Inducement Grants, made under the company's 2023 Inducement Plan, were approved by the Compensation Committee and align with Nasdaq Listing Rule 5635(c)(4). The options' exercise price equals the closing price on the grant date and will vest over four years, with 25% vesting after one year and the remainder vesting in 12 quarterly installments, contingent on continued employment.

89bio (Nasdaq: ETNB) has announced its participation in the 7th Annual Evercore HealthCONx Conference. The company's management will engage in a fireside chat on Tuesday, December 3, 2024, at 8:20 AM ET, along with one-on-one investor meetings. The event will be accessible via webcast through 89bio's investor website section, with replay available for approximately 30 days post-conference. 89bio is a clinical-stage biopharmaceutical company developing innovative therapies for liver and cardiometabolic diseases.

89bio presented new analyses from the Phase 2b ENLIVEN trial evaluating pegozafermin in MASH patients with advanced fibrosis at The Liver Meeting® 2024. The post-hoc analyses demonstrate pegozafermin's potential anti-fibrotic effects and the utility of non-invasive tests (NITs) in correlating with histological endpoints. The data, presented in four poster sessions, showed that pegozafermin improved FAST scores and achieved both MASH resolution and fibrosis improvement, suggesting its effectiveness in preventing progression to cirrhosis in advanced MASH patients. The findings support the design of upcoming Phase 3 trials for both cirrhotic and non-cirrhotic MASH.

89bio announced the pricing of its upsized public offering, consisting of 11,455,882 shares of common stock at $8.50 per share and pre-funded warrants to purchase 3,250,000 shares at $8.499 per share. The pre-funded warrants have an exercise price of $0.001 and are immediately exercisable. The company granted underwriters a 30-day option to purchase up to 2,205,882 additional shares. The offering, expected to close around November 14, 2024, aims to raise approximately $125.0 million in gross proceeds. Goldman Sachs, Leerink Partners, and Evercore ISI are serving as book-running managers.

89bio (Nasdaq: ETNB) announced a proposed underwritten public offering of $100 million of common stock and pre-funded warrants. The company will grant underwriters a 30-day option to purchase up to an additional $15 million of shares. The proceeds will fund ongoing clinical activities and development of pegozafermin, manufacturing costs, and general corporate purposes. Goldman Sachs, Leerink Partners, and Evercore ISI are acting as book-running managers for the offering.

89bio (ETNB) reported Q3 2024 financial results and corporate updates. The company continues to advance its Phase 3 ENLIGHTEN trials for MASH and ENTRUST trial for SHTG, with topline data expected in 2025. Key financial highlights include cash position of $423.8 million, R&D expenses of $141.4 million (up from $31.4 million in Q3 2023), and a net loss of $149.1 million (increased from $34.7 million). The company secured an amended credit facility up to $150 million with K2 HealthVentures. Notable appointments include Charles McWherter to Board of Directors, Francis Sarena as COO, and Teresa Perney as Chief Regulatory Officer.