89bio, Inc. reported its financial results for the second quarter ended June 30, 2025, on August 7, 2025. The company's net loss for the quarter widened to $111.5 million, compared to $48.0 million in Q2 2024. Research and development (R&D) expenses surged to $103.9 million, up from $44.9 million in the prior year period.
The substantial increase in R&D expenses was primarily driven by the ongoing Phase 3 ENLIGHTEN trials in MASH and a non-recurring payment of $42.4 million related to the construction of a commercial-scale production facility for pegozafermin. This investment is crucial for ensuring future commercial supply and supporting a Biologics License Application (BLA) filing.
As of June 30, 2025, 89bio maintained a cash, cash equivalents, and marketable securities balance of approximately $561.2 million. The company reiterated its clinical timelines, with topline data for the ENTRUST trial in SHTG expected in Q1 2026, and ENLIGHTEN-Fibrosis and ENLIGHTEN-Cirrhosis data anticipated in 1H 2027 and 2028, respectively.
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