89Bio, Inc. Stock Price, News & Analysis

89bio, Inc. (Nasdaq: ETNB) presented positive results from the ENTRIGUE Phase 2 trial of pegozafermin for severe hypertriglyceridemia (SHTG) at the ESC Congress 2022. The treatment significantly reduced triglycerides (TG) across all doses, achieving median reductions of up to 63% compared to a 12% reduction in the placebo group. Pegozafermin also improved liver fat and glycemic control. The findings support advancing into a Phase 3 trial anticipated in the first half of 2023, indicating potential for pegozafermin as a key treatment for cardio-metabolic and liver diseases.

89bio, Inc. (Nasdaq: ETNB) has successfully completed enrollment in its Phase 2b ENLIVEN trial of pegozafermin, targeting non-alcoholic steatohepatitis (NASH). A total of 219 patients have been enrolled to receive either active treatment or placebo. Topline data is anticipated in the first quarter of 2023. The trial aims to evaluate the drug's efficacy and safety profile, building on previous positive results. The pegozafermin candidate utilizes innovative technology to enhance its therapeutic potential for patients suffering from liver diseases.

89bio, Inc. (Nasdaq: ETNB) announced positive topline results from the ENTRIGUE Phase 2 trial of pegozafermin for severe hypertriglyceridemia (SHTG) patients, with significant triglyceride reductions (up to 63%). The company plans to initiate a Phase 3 trial in the first half of 2023. They raised $94.5 million from a public offering, bolstering their financial position with a cash balance of approximately $200 million. However, R&D expenses increased to $19.7 million, and net loss widened to $25.1 million. Topline data from the ENLIVEN Phase 2b trial for NASH is anticipated in early 2023.

89bio, Inc. (Nasdaq: ETNB) announced the completion of its underwritten public offering, raising approximately $94.5 million. The offering included 18,675,466 shares of common stock and warrants for 9,337,733 shares, priced at $3.55 per share. Additionally, pre-funded warrants for 7,944,252 shares were issued at $3.549 each. Key institutional investors participated, including BVF Partners and Deep Track Capital. The offering is supported by a valid SEC registration statement effective since April 2021.

89bio, Inc. (Nasdaq: ETNB) announced the pricing of a public offering of 18,675,466 shares of common stock at $3.55 per share, along with warrants for 9,337,733 additional shares. The offering also includes pre-funded warrants for 7,944,252 shares at $3.549 each. The anticipated gross proceeds are approximately $94.5 million, expected to close around July 1, 2022. BofA Securities and SVB Securities are leading the offering. The securities are available through a filed shelf registration statement with the SEC.

On June 28, 2022, 89bio (Nasdaq: ETNB) announced a public offering of $75 million in common stock, including pre-funded warrants for select investors. The offering is contingent on market conditions and entails no guarantees regarding completion terms. Proceeds are earmarked for ongoing clinical development of pegozafermin and other corporate purposes. BofA Securities and SVB Securities are the book-running managers for this initiative. A registration statement has been filed with the SEC, allowing potential investors to access detailed offering information.

89bio announced positive results from the ENTRIGUE trial, which evaluated pegozafermin for severe hypertriglyceridemia. The primary endpoint was met, showing a statistically significant reduction in triglycerides by 63% at the highest dose (p<0.001). Additionally, improvements were observed in non-HDL-C and liver fat. The trial included 85 patients, and pegozafermin demonstrated a favorable safety profile with mild side effects. The company plans to initiate a Phase 3 trial in the first half of 2023, highlighting the potential for pegozafermin as a leading treatment option in the market.

89bio, a clinical-stage biopharmaceutical company, has announced that additional data on pegozafermin for treating non-alcoholic steatohepatitis (NASH) will be presented at the EASL International Liver Congress™ 2022 in London from June 22-26, 2022. Key presentations include:

• Abstract 3535: Improved liver histology and metabolic profile.
• Abstract 3654: Significant metabolic benefits alongside liver improvements.
• Abstract 1520: Pharmacokinetics of BIO89-100 in NASH patients.

Presentations are on June 25, 2022.

89bio, Inc. (Nasdaq: ETNB) reported Q1 2022 financial results, showing a net loss of $25.6 million, up from $14.8 million in Q1 2021, primarily due to increased R&D and G&A expenses. The company aims to report topline data from its ENTRIGUE trial for severe hypertriglyceridemia (SHTG) in Q2 2022 and complete enrollment for its ENLIVEN trial for NASH by Q3 2022. As of March 31, 2022, 89bio held $126.1 million in cash, sufficient to fund operations into the second half of 2023.