Announces Pricing of $250.0 Million Public Offering of Common Stock and Pre-Funded Warrants
Summary
SAN FRANCISCO, Jan. 28, 2025 (GLOBE NEWSWIRE) -- 89bio, Inc. (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 the pricing of its previously announced upsized underwritten public offering of 21,671,428 shares of its common stock at a public offering price per share of $8.75 and, in lieu of common stock to a certain investor, pre-funded warrants to purchase up to 6,900,000 shares of its common stock at a public offering price of $8.749. The company is focused on advancing its lead candidate, pegozafermin, through Phase 3 clinical development for the treatment of metabolic dysfunction-associated steatohepatitis and severe hypertriglyceridemia. Pegozafermin is a specifically engineered fibroblast growth factor 21 analog with unique glycoPEGylated technology that optimizes biological activity through an extended half-life. 89bio claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. 89bio expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.