Group 1 - 89bio is focusing on Pegozafermin, which utilizes a fibroblast growth factor 21 (FGF21) approach to address metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG) [1] - Pegozafermin is currently in advanced trials for both MASH and SHTG, with topline data for SHTG expected to be released by the second half of the year [1]

Company Overview - 89bio, Inc. is a clinical-stage biopharmaceutical company focused on developing therapies for liver and cardiometabolic diseases, particularly targeting patients with limited treatment options [5] - The company is advancing its lead candidate, pegozafermin, through Phase 3 clinical development for metabolic dysfunction-associated steatohepatitis and severe hypertriglyceridemia [5] Offering Details - 89bio announced a public offering of 21,671,428 shares of common stock at a price of $8.75 per share, along with pre-funded warrants for up to 6,900,000 shares at a price of $8.749 [1] - The gross proceeds from the offering are expected to be approximately $250 million before deducting underwriting discounts and commissions [1] - The offering is expected to close on or about January 30, 2025, subject to customary closing conditions [1] Underwriters - Goldman Sachs & Co. LLC, Leerink Partners, and BofA Securities are acting as lead book-running managers for the offering, with Cantor acting as book-running manager [2]

Core Viewpoint - 89bio is planning to raise up to $287.5 million through a secondary stock issue, which has led to investor hesitation despite a positive broader market performance [1][2]. Group 1: Stock Offering Details - The company intends to conduct an underwritten public offering of $250 million worth of its common stock, with an additional 30-day option for underwriters to purchase up to $37.5 million more [2]. - The underwriting syndicate is led by Goldman Sachs, Bank of America Securities, and Leerink Partners [2]. Group 2: Use of Proceeds - Proceeds from the stock issue will be allocated to funding clinical activities and the development of the drug pegozafermin, as well as manufacturing-related expenses [4]. - Additional funds will be directed towards general corporate purposes, including working capital and operating costs [4]. Group 3: Market Reaction and Investor Sentiment - The announcement of the stock issue has raised concerns about potential dilution for existing shareholders, particularly given the company's market cap of less than $1.06 billion [5]. - Despite these concerns, it is acknowledged that funding is a common challenge for clinical-stage biotechs, and such stock sales are often necessary to maintain liquidity [5].

SAN FRANCISCO, Jan. 27, 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 that it has commenced an underwritten public offering of $250.0 million of shares of its common stock or, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase shares of its common stock. In additio ...

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– Completed enrollment in Phase 3 ENTRUST trial in patients with severe hypertriglyceridemia (SHTG); topline 26-week data expected in the second half of 2025 – – The Phase 3 ENLIGHTEN program in patients with non-cirrhotic (F2-F3) and compensated cirrhotic (F4) metabolic dysfunction-associated steatohepatitis (MASH) continues to enroll patients across both trials – – Cash, cash equivalents, and marketable securities totaled approximately $440 million as of December 31, 2024 – SAN FRANCISCO, Jan. 13, 2025 (G ...

SAN FRANCISCO, Nov. 15, 2024 (GLOBE NEWSWIRE) --  89bio, Inc. (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases, announced new analyses of data from the Phase 2b ENLIVEN trial evaluating pegozafermin in metabolic dysfunction-associated steatohepatitis (MASH) patients with advanced fibrosis. The findings were presented in four poster sessions at The American Association fo ...

SAN FRANCISCO, Nov. 12, 2024 (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 11,455,882 shares of its common stock at a public offering price per share of $8.50 and, in lieu of common stock to a certain investor, pre-funded warrants ...

SAN FRANCISCO, Nov. 12, 2024 (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 that it has commenced an underwritten public offering of $100 million of shares of its common stock or, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase shares of its common stock. In addition ...

Exhibit 99.1 89bio Reports Third Quarter 2024 Financial Results and Corporate Updates – The Phase 3 ENLIGHTEN program in patients with non-cirrhotic (F2-F3) and compensated cirrhotic (F4) metabolic dysfunction-associated steatohepatitis (MASH) continues to enroll patients across both trials – – Topline data from the Phase 3 ENTRUST trial in patients with severe hypertriglyceridemia (SHTG) are expected in 2025 – – Strengthened the Board of Directors and Executive Leadership Team with the appointments of Char ...