On February 3, 2025, 89bio, Inc. announced the closing of its previously announced underwritten public offering. The offering included 25,957,142 shares of its common stock, which incorporated the full exercise by the underwriters of their option to purchase an additional 4,285,714 shares.
The gross proceeds from this offering totaled approximately $250.0 million. This capital infusion is designated to support the ongoing clinical activities and development of pegozafermin, manufacturing-related costs, and other general corporate purposes.
The successful completion of this financing event provides 89bio with critical funds to advance its Phase 3 clinical trials for pegozafermin in MASH and SHTG. This strengthens the company's financial position as it moves closer to potential regulatory filings and commercialization.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.