89bio, Inc. Announces Upsized Pricing of $150.0 Million Public Offering of Common Stock

SAN FRANCISCO, Dec. 07, 2023 (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 15,135,135 shares of its common stock at a price to the public of $9.92 per share. The gross proceeds to 89bio from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by 89bio, are expected to be $150.0 million. The offering is expected to close on December 11, 2023, subject to customary closing conditions.

89bio’s upsized public offering of $150.0 million of common stock is a significant milestone for the company in its mission to develop and commercialize innovative therapies for liver and cardiometabolic diseases. The company’s focus on addressing unmet medical needs in these areas demonstrates its commitment to improving patient outcomes and advancing medical research.

This public offering will provide 89bio with additional funding to support its clinical-stage development programs and further its efforts to bring novel treatments to market. The pricing of the offering at $9.92 per share reflects investor confidence in the company’s potential for success and growth in the biopharmaceutical industry.

Effect on Me:

As a potential investor, the upsized pricing of 89bio’s public offering of common stock may present an opportunity for me to invest in a promising biopharmaceutical company with a focus on innovative therapies for liver and cardiometabolic diseases. The company’s commitment to addressing unmet medical needs and bringing novel treatments to market could result in potential returns on investment in the future.

Effect on the World:

89bio’s successful upsized public offering of $150.0 million of common stock has the potential to impact the world by advancing medical research and innovation in the treatment of liver and cardiometabolic diseases. The company’s development and commercialization of novel therapies have the potential to improve patient outcomes globally and address significant healthcare challenges in these areas.

Conclusion:

In conclusion, 89bio’s announcement of the pricing of its upsized public offering of common stock reflects its commitment to developing and commercializing innovative therapies for liver and cardiometabolic diseases. The funding raised through this offering will support the company’s clinical-stage development programs and further its mission to improve patient outcomes and advance medical research in the biopharmaceutical industry.