89bio, Inc. Announces Pricing of $250.0 Million Public Offering of Common Stock and Pre-Funded Warrants

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]