89bio, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024, on February 27, 2025. The company's net loss for Q4 2024 increased to $118.4 million, compared to $40.2 million in Q4 2023. For the full year 2024, the net loss was $367.1 million, up from $142.2 million in 2023.
Research and development (R&D) expenses significantly increased, reaching $111.3 million in Q4 2024, compared to $33.6 million in the prior year quarter. Full year 2024 R&D expenses were $345.0 million, up from $122.2 million in 2023, primarily driven by contract manufacturing costs and the progression of Phase 3 MASH programs. As of December 31, 2024, cash, cash equivalents, and marketable securities totaled $440.0 million.
A key corporate update included a revised timeline for the Phase 3 ENTRUST trial in severe hypertriglyceridemia (SHTG); topline data are now expected in the first quarter of 2026, following a decision to unblind the study after Week 52 instead of Week 26. The ENLIGHTEN-Fibrosis and ENLIGHTEN-Cirrhosis Phase 3 trials for MASH continue to advance, with topline histology data anticipated in the first half of 2027 and 2028, respectively.
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