89Bio, Inc. - ETNB STOCK NEWS

89bio (ETNB) reported financial results for Q4 and full year 2024, highlighting progress in its clinical trials. The company's Phase 3 ENLIGHTEN trials for MASH patients continue advancing, with topline histology data expected in 1H 2027 for non-cirrhotic patients and 2028 for cirrhotic patients. The Phase 3 ENTRUST trial in severe hypertriglyceridemia completed enrollment with 369 patients, with topline data now expected in Q1 2026.

Financial highlights include cash position of $440.0 million as of December 31, 2024, with additional gross proceeds of $287.5 million from a follow-on offering in Q1 2025. R&D expenses increased to $345.0 million for 2024, up from $122.2 million in 2023. The company reported a net loss of $367.1 million for 2024, compared to $142.2 million in 2023.

89bio (Nasdaq: ETNB) announced the approval of inducement grants by its Board's Compensation Committee. The grants consist of non-qualified stock options to purchase 163,650 shares of common stock, awarded to seven new employees on January 31, 2025. The exercise price equals the closing price of 89bio's stock on the grant date. These 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. The grants were made under the company's 2023 Inducement Plan and align with Nasdaq Listing Rule 5635(c)(4).

89bio (Nasdaq: ETNB) has successfully closed its previously announced public offering, raising approximately $287.5 million in gross proceeds. The offering included 25,957,142 shares of common stock at $8.75 per share, with underwriters fully exercising their option to purchase an additional 4,285,714 shares. Additionally, the company offered pre-funded warrants for up to 6,900,000 shares at $8.749 per warrant.

The offering was managed by Goldman Sachs & Co. , Leerink Partners, and BofA Securities as lead book-running managers, with Cantor acting as book-running manager. The securities were offered through an automatically effective shelf registration statement filed with the SEC on May 23, 2023.

89bio (Nasdaq: ETNB) has announced the pricing of its upsized public offering, consisting of 21,671,428 shares of common stock at $8.75 per share and pre-funded warrants to purchase up to 6,900,000 shares at $8.749 per share. The warrants have an exercise price of $0.001 and are immediately exercisable.

The company expects to raise approximately $250.0 million in gross proceeds before deducting underwriting discounts and expenses. The underwriters have a 30-day option to purchase up to an additional 4,285,714 shares. The offering is expected to close around January 30, 2025.

Goldman Sachs & Co. , Leerink Partners, and BofA Securities are serving as lead book-running managers, with Cantor as book-running manager for the offering.

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.