89bio Announces Closing of its Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Core Viewpoint - 89bio, Inc. has successfully closed a public offering of 25,957,142 shares of common stock, raising approximately $287.5 million before expenses, to support its clinical development efforts in liver and cardiometabolic diseases [1][2]. Group 1: Offering Details - The public offering price was set at$8.75 per share, with underwriters fully exercising their option to purchase an additional 4,285,714 shares [1]. - In addition to common stock, pre-funded warrants to purchase up to 6,900,000 shares were offered at a price of $8.749 each, which is equivalent to the public offering price minus the exercise price [1]. Group 2: Company Overview - 89bio is a clinical-stage biopharmaceutical company focused on developing therapies for liver and cardiometabolic diseases, particularly targeting metabolic dysfunction-associated steatohepatitis and severe hypertriglyceridemia [5]. - The company's lead candidate, pegozafermin, is a fibroblast growth factor 21 analog designed with glycoPEGylated technology to enhance biological activity through an extended half-life [5].