89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SAN FRANCISCO, June 07, 2023 (GLOBE NEWSWIRE)
89bio, Inc. (the “Company” or “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 the Compensation Committee of the Company’s Board of Directors approved the grant of non-qualified stock options to purchase an aggregate of 7,500 shares of the Company’s common stock to three new employees.
The inducement grants were approved in accordance with Nasdaq Listing Rule 5635(c)(4) as a material inducement to employment with the Company. The stock options have an exercise price of $18.21 per share, which is equal to the closing price of 89bio’s common stock on June 7, 2023.
89bio is dedicated to developing innovative therapies for liver and cardiometabolic diseases, with a focus on addressing unmet medical needs in these areas. The Company’s pipeline includes potential treatments for conditions such as nonalcoholic steatohepatitis (NASH) and type 2 diabetes, which represent significant public health challenges.
By granting these stock options to new employees, 89bio is not only incentivizing top talent to join the team but also aligning employee interests with the long-term success of the Company. Stock options can be a valuable form of compensation, providing employees with the opportunity to benefit from the growth of the Company’s stock price over time.
As 89bio continues to advance its pipeline of therapies and pursue its mission of improving outcomes for patients with liver and cardiometabolic diseases, the addition of new team members will be instrumental in driving forward these important initiatives.
How This News Will Affect Me
If you are a shareholder or prospective employee of 89bio, the announcement of these inducement grants may impact you directly. Shareholders may see the granting of stock options as a positive indication of the Company’s growth potential, while prospective employees may be enticed by the opportunity to receive stock options as part of their compensation package.
How This News Will Affect the World
On a broader scale, the development of innovative therapies for liver and cardiometabolic diseases has the potential to have a significant impact on public health worldwide. By focusing on addressing unmet medical needs in these areas, 89bio is contributing to the advancement of medical science and the improvement of patient outcomes on a global scale.
Conclusion
The announcement of inducement grants by 89bio reflects the Company’s commitment to attracting top talent and driving forward its mission of developing innovative therapies for liver and cardiometabolic diseases. As 89bio continues to make strides in its pipeline of treatments, the impact of these efforts will be felt not only by shareholders and employees but by patients and healthcare systems around the world.
