89bio News
153 articles
growth-positive
Fibronostics Acquires Stone Clinical Laboratories to Advance MASH/MASLD Diagnostics
Fibronostics, a leader in non-invasive diagnostics for metabolic and liver diseases, has acquired Stone Clinical Laboratories, a U.S.-based provider of advanced laboratory services. This acquisition enhances Fibronostics R&D capabilities and strengthens its position in the diagnostics market for metabolic dysfunction-associated steatohepatitis (MASH) and metabolic dysfunction-associated steatotic liver disease (MASLD). The acquisition is part of Fibronostics growth strategy to expand its U.S. operations and accelerate innovation in non-invasive diagnostics. The combined expertise of both companies will advance biomarker development and clinical validation studies, supporting therapeutic innovation and patient management. This move positions Fibronostics to collaborate with biopharma innovators and healthcare systems to improve early detection and patient outcomes.
AcquisitionPartners
growth-positive
8Dell, 89bio, MBX Biosciences and More Stocks See Action From Activist Investors
MBX Biosciences is among the companies seeing action from activist investors, as disclosed in recent 13D filings with the Securities and Exchange Commission. These filings indicate that an entity has acquired more than 5% of a companys securities, suggesting a significant investment interest. This development is growth-positive for MBX Biosciences, as it implies increased investor confidence and potential financial backing. The article highlights the involvement of activist investors, which could lead to strategic changes or influence in company decisions. The investment is part of a broader trend where companies like Dell and 89bio are also attracting similar investor attention.
Investment
growth-positive
Novo Nordisk Bulks Up Its Obesity-Tied Portfolio With $5.2 Billion Buyout
Novo Nordisk has announced a significant acquisition, agreeing to pay up to $5.2 billion to acquire Akero Therapeutics. This acquisition is aimed at enhancing Novo Nordisks portfolio related to obesity and liver disease treatments. Akero Therapeutics is known for its experimental liver disease treatment, which aligns with Novo Nordisks strategic focus on expanding its offerings in the healthcare sector. This move is seen as growth-positive for Novo Nordisk, as it strengthens its position in the market and potentially opens up new avenues for revenue generation.
Acquisition
growth-positive
Assessing 89bio (ETNB) Valuation Following a 60% Share Price Rally
89bio has seen a significant increase in its stock price, climbing over 60% in the past month, which has attracted investor attention. The companys one-year total shareholder return is 102%, indicating strong momentum in the biotech sector. Despite the rally, questions arise about whether the stock is undervalued or if the market has already priced in its future potential. The companys price-to-book ratio of 4.2 is notably higher than the US Biotechs industry average, suggesting that investors are optimistic about its future growth prospects. However, concerns remain due to ongoing losses and minimal revenue, which could affect investor sentiment if there are setbacks in its clinical pipeline.
growth-positive
Roche commences tender offer for all shares of 89bio, Inc. for $14.50 per share in cash, plus a non-tradeable contingent value right for up to $6.00 per share in cash
Roche announced a tender offer to acquire all outstanding shares of 89bio, Inc. at $14.50 per share in cash, plus a contingent value right (CVR) for additional milestone payments. The offer follows a merger agreement and is set to expire on October 29, 2025. The acquisition is subject to customary conditions, including antitrust clearance. If successful, remaining shares will be acquired in a second-step merger at the same price. The transaction is expected to close in Q4 2025. The tender offer is detailed in the Offer to Purchase filed with the SEC.
Acquisition
growth-positive
89bio, Inc. (ETNB) Shareholders to Receive Up to $3.5B Total in Roche Buyout Deal
89bio, Inc., a clinical-stage biopharmaceutical company, is being acquired by Roche for $14.50 per share in cash, valuing the company at approximately $2.4 billion. Shareholders may receive an additional $6 per share based on the commercial success of its lead candidate, pegozafermin, bringing the total potential deal value to $3.5 billion. This acquisition highlights Roches confidence in pegozafermins potential as a therapy for metabolic dysfunction-associated steatohepatitis (MASH). The transaction is expected to close in Q4 2025, following unanimous board approval from both companies. Roche plans to integrate pegozafermin into its portfolio to maximize its impact.
Acquired-by
growth-positive
89Bio (ETNB) Soars 86 Percent to Historic High on $3.5-Billion Roche Merger
89bio Inc. (NASDAQ:ETNB) experienced a significant surge in its stock price following the announcement of its acquisition by Swiss company Roche for $3.5 billion. The acquisition aims to advance innovative therapies in cardiovascular, renal, and metabolic diseases. Roche will conduct a tender offer for all outstanding shares of 89bio at $14.50 per share, with additional milestone payments potentially increasing the total deal value. The acquisition represents a 52% premium over 89bios 60-day volume-weighted average price. Roche expects to close the transaction in the fourth quarter of the year.
Acquired-by
growth-positive
Raymond James cuts 89bio to “market perform” after Roche’s $14.50 per share deal
Raymond James downgraded 89bio, Inc. to market perform following Roches acquisition announcement. Roche will acquire 89bio in a cash-and-CVR deal, offering $14.50 per share in cash and an additional $6 per share tied to contingent value rights. The acquisition values 89bio at $2.36 billion. Despite the downgrade, the acquisition is seen as a significant development, with Roche having limited overlap with 89bios metabolic pipeline. 89bio is expected to report Phase 3 data from its hypertriglyceridemia program in 2026 and other trials in subsequent years. The company reported a net loss of $367.1 million in 2024, with revenue contributions expected in 2027.
Acquired-by
growth-positive
תאגיד רוש ירכוש את חברת 89bio תמורת 2.4 מיליארד דולר מיידית, עם אופציה להכנסות נוספות עד סכום כולל לעסקה של 3.5 מיליארד דולר ● 89bio פועלת בשוק הענק של כבד שומני, אך רוש מתעניינת לא פחות במוצר של החברה לטיפול גם במחלות נוספות
89bio, a company founded by former Teva employees and currently operating in the US with a development center in Israel, is set to be acquired by Roche for $2.4 billion, with potential additional earnings bringing the total deal to $3.5 billion. The acquisition provides a significant premium on 89bios stock price, which had been declining. 89bios leading product, a treatment for fatty liver disease, is in Phase III clinical trials. The acquisition highlights the potential of 89bios FGF21 mechanism, which has anti-inflammatory and anti-fibrotic effects. The deal is seen as a missed opportunity for Teva, which initially owned the asset but divested it to focus on core areas.
Acquired-by
growth-positive
Roche strikes $3.5 billion deal for U.S.-Israeli biotech 89bio | CTech
Roche has agreed to acquire 89bio, a biotechnology company focused on treatments for advanced liver disease, in a deal valued at up to $3.5 billion. This acquisition positions Roche at the forefront of a new therapeutic frontier intersecting obesity and metabolic disorders. Founded in 2018, 89bio has rapidly advanced its lead drug candidate, pegozafermin, into late-stage trials for metabolic dysfunction-associated steatohepatitis (MASH). The acquisition highlights Roches strategy to expand beyond GLP-1 weight-loss drugs into related areas such as liver diseases. The deal includes an upfront payment of $2.4 billion, with potential milestone payments bringing the total to $3.5 billion.
Acquired-by
Wall Street Set to Open Higher Thursday; Jobless Claims Fall as Manufacturing Index Rebounds
The article discusses the anticipated opening of US stocks on a higher note following a lower-than-expected jobless claims report. It highlights the need for a Silver or Gold subscription plan to access premium news articles from MT Newswires. The article does not provide specific details about any particular company or its activities, such as investments, partnerships, or acquisitions. The focus is on the general market conditions and the benefits of subscribing to premium news services for more detailed information.
growth-positive
89bio Stock Soars 86%. Why Roche Is Buying the Biopharma Company for $3.5 Billion.
Roche has announced its acquisition of the biopharmaceutical company 89bio for $3.5 billion. This strategic move aims to enhance Roches portfolio by adding an experimental treatment for specific liver and blood conditions. The acquisition reflects Roches commitment to expanding its capabilities in addressing complex health issues. The deal is seen as a growth-positive development for 89bio, as it provides the company with significant resources and expertise to advance its experimental treatments. This acquisition highlights the ongoing trend of large pharmaceutical companies investing in innovative biopharma firms to bolster their therapeutic offerings.
Acquired-by
growth-positive
RHHBY to Acquire 89bio for $3.5B, Add Late-Stage MASH Drug to Pipeline
Roche has announced its acquisition of 89bio, a clinical-stage biopharmaceutical company, for $3.5 billion. This strategic move aims to enhance Roches portfolio in cardiovascular, renal, and metabolic diseases by adding 89bios promising phase III candidate, pegozafermin, to its pipeline. Pegozafermin is in late-stage development for treating metabolic dysfunction-associated steatohepatitis (MASH) in fibrotic and cirrhotic patients. The acquisition, approved by both companies boards, is expected to close in the fourth quarter of 2025. The deal includes a contingent value right (CVR) for 89bio stockholders, potentially increasing the total consideration by up to $1 billion if certain sales milestones are met. This acquisition is seen as a positive growth opportunity for Roche, aligning with its strategic focus on lucrative therapeutic areas.
Acquisition
growth-positive
89bio, Inc. Announces Agreement to be Acquired by Roche
89bio, Inc., a clinical-stage biopharmaceutical company, has announced its acquisition by Roche for $14.50 per share in cash, with an additional non-tradeable contingent value right (CVR) of up to $6.00 per share, totaling an equity value of approximately $3.5 billion. This acquisition reflects the potential of 89bios drug, pegozafermin, for treating metabolic dysfunction-associated steatohepatitis (MASH). The merger, approved by 89bios Board of Directors, aligns with Roches strategy to enhance its cardiovascular, renal, and metabolism portfolio. The acquisition is expected to accelerate the development and commercialization of pegozafermin, benefiting patients and unlocking shareholder value.
Acquired-by
Roche to Buy Maker of Fatty Liver Treatment 89bio for Up to $3.5 Billion
growth-positive
The company, which was founded in Israel, has a drug for treatment of fatty liver in phase III trials, which was initially an asset of Teva.
89bio, a clinical-stage biopharmaceutical company, is set to be acquired by Roche for an immediate payment of $2.4 billion, with potential milestone payments increasing the deal to $3.5 billion. The acquisition represents a significant premium on 89bios share price, which has declined since its IPO in 2019. Founded in Israel, 89bio focuses on a drug for fatty liver disease, currently in Phase III trials. The acquisition by Roche is seen as a vote of confidence in the drugs potential, despite the inherent risks of clinical trials. The deal is expected to benefit venture capital funds involved in the pharma sector, particularly those that initially invested in 89bio.
Acquired-by
growth-positive
Stocks to Watch Recap: Intel, FedEx, Meta, Darden Restaurants
Intel received a significant investment of $5 billion from Nvidia, which led to a substantial increase in Intels stock price, closing up 23% on Thursday. This investment is seen as a positive development for Intel, indicating growth potential and strengthening its position in the market. Nvidias shares also experienced a rise of 3.5%. The collaboration between Alphabet and PayPal on online shopping, leveraging AI and payment infrastructure, was also highlighted.
Investment
growth-positive
Roche Digs Into Obesity-Tied Diseases With $3.5 Billion 89bio Buyout
Roche has announced its acquisition of 89bio, a small biotech company, in a deal valued at up to $3.5 billion. This strategic move is aimed at expanding Roches portfolio in the treatment of obesity-related diseases. The acquisition is expected to bolster Roches position in the market by integrating 89bios expertise in developing drugs for metabolic conditions, specifically targeting MASH (Metabolic Associated Steatohepatitis). The news of the acquisition led to a significant increase in 89bios stock value, nearly doubling its price. This acquisition is seen as a growth-positive step for Roche, enhancing its capabilities in addressing obesity-tied diseases.
Acquisition
growth-positive
Sector Update: Health Care Stocks Advance Late Afternoon
The article discusses the rise in healthcare stocks, with the NYSE Health Care Index increasing by 0.3% late Thursday afternoon. The mention of NOVO-B.CO suggests a positive impact on the company as part of the broader healthcare sectors growth. The article is part of a premium news service, requiring a Silver or Gold subscription for full access. No specific details about NOVO-B.COs operations, partnerships, or financial activities are provided in the text.
Stocks Gain Pre-Bell as Fed Lowers Rates, Signals Further Policy Easing in 2025
The article discusses the trending movement of US equity markets before the opening bell on Thursday, following a delivery from the Federal Reserve. It highlights the need for a Silver or Gold subscription plan to access premium news articles from MT Newswires. The article also mentions terms, privacy policy, and privacy choices related to the subscription service. However, specific details about any companys impact, partnerships, investments, or other business activities are not provided in the text.
growth-negative
A Closer Look at 89bio (ETNB) Valuation Following Recent Share Price Drift
The article discusses the recent stock performance of 89bio, a biotech company, which has seen a decline in its share price despite impressive annual revenue growth. The stocks price-to-book ratio is slightly higher than the average for the US Biotech industry, indicating it might be overvalued. However, a discounted cash flow model suggests the shares could be undervalued based on future cash flows. The article highlights the mixed sentiment around the stock, with persistent losses and revenue uncertainty weighing on its valuation. The key question remains whether the market has already priced in any future upside.
growth-positive
H.C. Wainwright Backs 89bio (ETNB) with Buy Rating
89bio, Inc. (NASDAQ:ETNB) is a clinical-stage biopharmaceutical company that has been identified as a promising investment opportunity. On September 4, H.C. Wainwright initiated coverage with a Buy rating and a price target of $32, highlighting the potential of 89bios lead candidate, pegozafermin. This FGF21 analog is advancing into Phase 3 trials for various liver conditions, with data expected between 2026 and 2028. Phase 2B results showed promising improvements in liver fibrosis and metabolic markers, with good safety and tolerability profiles. While 89bio is seen as a strong investment, the article also suggests that certain AI stocks might offer greater upside potential.
Product StageInvestment
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced the grant of non-qualified stock options to three new employees as part of its 2023 Inducement Plan. These grants are intended to attract new talent and are set to vest over four years. 89bio is focused on developing therapies for liver and cardiometabolic diseases and is currently in Phase 3 trials for its lead candidate, pegozafermin, aimed at treating metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). The company is headquartered in San Francisco and aims to provide best-in-class therapies for patients lacking optimal treatment options.
Product StageExpand
growth-positive
89bio to Participate in Upcoming Investor Conferences
89bio, Inc., a clinical-stage biopharmaceutical company, is focused on developing therapies for liver and cardiometabolic diseases. The company announced its participation in several investor conferences in September 2025, including Citi’s Biopharma Back to School Conference, Cantor Global Healthcare Conference, and H.C. Wainwright 27th Annual Global Investment Conference. These events will feature fireside chats and one-on-one meetings, with webcasts available on the companys website. 89bio is currently in Phase 3 trials for its lead candidate, pegozafermin, targeting metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). The company is headquartered in San Francisco.
Product Stage
growth-positive
89bio, Inc. (ETNB) Reports Second-Quarter Results; Leerink Partners and Citi Maintain ‘Buy’ Ratings
89bio, Inc. (NASDAQ:ETNB) is highlighted as one of the best single-digit stocks to buy, with significant hedge fund interest. The company reported its Q2 2025 results on August 7, 2025, showcasing progress in three global Phase 3 trials for its drug pegozafermin, aimed at treating severe metabolic issues. The company plans to release results for the ENTRUST trial by Q1 2026 and other studies by 2027 and 2028. Analysts have mixed sentiments, with Leerink Partners and Citi maintaining Buy ratings, while RBC Capital maintains a Hold rating. The company is financially supported by $561.2 million in cash and marketable securities. Despite its potential, some analysts suggest AI stocks may offer better investment opportunities.
Product StageInvestment
growth-positive
89bio Reports Second Quarter 2025 Financial Results and Corporate Updates
89bio, Inc., a clinical-stage biopharmaceutical company, is advancing its Phase 3 trials for pegozafermin, targeting metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). The company expects topline data from its ENTRUST trial for SHTG in Q1 2026 and from its ENLIGHTEN-Fibrosis and ENLIGHTEN-Cirrhosis trials for MASH in 2027 and 2028, respectively. These trials aim to support accelerated approval filings. As of June 30, 2025, 89bio reported $561.2 million in cash and equivalents. The company is focused on delivering innovative therapies for liver and cardiometabolic diseases, with a promising outlook for pegozafermins efficacy and safety.
Product Stage
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced the grant of non-qualified stock options to three new employees as part of its 2023 Inducement Plan. These Inducement Grants, approved by the Compensation Committee, are intended to attract new talent and are in accordance with Nasdaq Listing Rule 5635(c)(4). The options cover 267,000 shares of common stock and will vest over four years, with 25% vesting after one year and the remainder vesting quarterly. 89bio is currently in Phase 3 trials for pegozafermin, a treatment for metabolic dysfunction-associated steatohepatitis and severe hypertriglyceridemia. The company is focused on developing therapies for liver and cardiometabolic diseases.
Management ChangesExpand
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced the grant of non-qualified stock options to two new employees as part of its 2023 Inducement Plan. These grants are intended to attract new talent and are aligned with Nasdaq Listing Rule 5635(c)(4). The options will vest over four years, with an initial 25% vesting after one year. 89bio is focused on developing therapies for liver and cardiometabolic diseases, with its lead candidate, pegozafermin, in Phase 3 clinical trials for metabolic dysfunction-associated steatohepatitis and severe hypertriglyceridemia. The company is based in San Francisco.
Product StageExpand
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced the grant of non-qualified stock options to three new employees as part of its 2023 Inducement Plan. These grants, approved by the Compensation Committee, are intended to attract new talent to the company. The stock options will vest over four years, with an initial 25% vesting after one year. 89bio is focused on developing therapies for liver and cardiometabolic diseases, with its lead candidate, pegozafermin, in Phase 3 clinical trials for metabolic dysfunction-associated steatohepatitis and severe hypertriglyceridemia. The company is based in San Francisco.
Product StageExpand
growth-positive
89bio to Participate in Goldman Sachs 46th Annual Global Healthcare Conference
89bio, Inc., a clinical-stage biopharmaceutical company, is focused on developing therapies for liver and cardiometabolic diseases. The company announced its participation in the Goldman Sachs 46th Annual Global Healthcare Conference, where it will engage in a fireside chat and one-on-one investor meetings. 89bio is advancing its lead candidate, pegozafermin, through Phase 3 clinical trials for metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). Pegozafermin is a fibroblast growth factor 21 (FGF21) analog with unique glycoPEGylated technology. The event is expected to positively impact the companys growth by increasing visibility and investor engagement.
Product Stage
growth-negative
Why 89bio, Inc. (ETNB) Is Among the Best Low Priced Biotech Stocks to Buy Now
The article discusses the challenges facing the biotech sector, particularly focusing on 89bio, Inc. (NASDAQ:ETNB) as a low-priced biotech stock. Michael Yee, a Senior Biotech Analyst at Jefferies, highlights the pressures from tariffs and policy risks, estimating a 50% tariff rate and a negative EPS impact of 4-5%. The sector is also affected by the most favored nations policy, which could reduce drug prices by 40-50%. Despite these challenges, the article suggests that the current low valuations present potential buying opportunities once uncertainties clear. The biotech stocks, including 89bio, are trading at decade-low P/E multiples, indicating potential for future growth.
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced the grant of non-qualified stock options to seven new employees as part of its 2023 Inducement Plan. These grants are intended to attract new talent and are aligned with Nasdaq Listing Rule 5635(c)(4). The options will vest over four years, with an initial 25% vesting after one year and the remainder vesting quarterly. 89bio is focused on developing therapies for liver and cardiometabolic diseases, with its lead candidate, pegozafermin, in Phase 3 clinical trials for metabolic dysfunction-associated steatohepatitis and severe hypertriglyceridemia. The company is headquartered in San Francisco.
ExpandProduct Stage
growth-positive
89bio to Participate in Upcoming Investor Conferences
89bio, Inc., a clinical-stage biopharmaceutical company, is participating in investor conferences in May 2025 to discuss its innovative therapies for liver and cardiometabolic diseases. The company is in Phase 3 trials for its lead candidate, pegozafermin, aimed at treating metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). Pegozafermin is a fibroblast growth factor 21 (FGF21) analog with unique glycoPEGylated technology. The company is listed on Nasdaq and headquartered in San Francisco. The participation in these conferences is likely to enhance investor interest and support the companys growth trajectory.
Product StagePublic Trading
growth-positive
89bio Reports First Quarter 2025 Financial Results and Corporate Updates
89bio, Inc., a clinical-stage biopharmaceutical company, is advancing its Phase 3 trials for metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). The company expects topline data from its ENTRUST trial in 2026 and from its ENLIGHTEN trials in 2027 and 2028, aiming for accelerated approval. 89bio reported strong financials with $638.8 million in cash and completed a follow-on equity offering with $287.5 million in proceeds. The company is focusing on a global manufacturing strategy to support its development and commercial readiness. The trials are designed to support accelerated approval, with ongoing efforts to achieve full approval. The companys lead candidate, pegozafermin, is noted for its efficacy and safety profile.
Product StagePIPE/PO
growth-positive
Citi says SMid biotechs alternative to large caps as it starts coverage
Citi has expanded its coverage in the biopharmaceutical sector, focusing on small- and mid-cap biotechnology companies. The bank initiated coverage with Buy ratings on several companies, including 89bio, Apogee, and Avidity, highlighting their focus on unmet medical needs and differentiated research platforms. Despite near-term volatility and economic uncertainties, Citi remains optimistic about the potential of SMid biotechs as an investment alternative to large-cap pharmaceutical firms. The article discusses potential regulatory and clinical milestones for companies like BioNTech, Moderna, and Avidity, with significant data expected in the coming years. Citi also noted that M&A activity could boost SMid biotechs, with early 2025 already seeing deals valued at approximately $20 billion.
Product StageInvestment
growth-positive
Bears are Losing Control Over 89BIO (ETNB), Here's Why It's a 'Buy' Now
The article discusses a potential trend reversal for 89BIO (ETNB) stock, which has experienced a downtrend recently, losing 11.1% over the past week. A hammer chart pattern formed in the last trading session suggests that the stock may have found support, indicating a possible bullish reversal. This technical indicator, combined with strong agreement among Wall Street analysts in raising earnings estimates, enhances the prospects for a positive trend change. The consensus EPS estimate for the current year has increased by 20.9% over the last 30 days, suggesting that analysts expect better earnings than previously predicted. The article emphasizes the importance of using the hammer pattern alongside other bullish indicators for more accurate predictions.
growth-positive
89bio to Participate in the Leerink Partners Global Healthcare Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced its participation in the Leerink Partners Global Healthcare Conference on March 10, 2025. The company will engage in a fireside chat and one-on-one investor meetings. 89bio is focused on developing therapies for liver and cardiometabolic diseases and is currently in Phase 3 trials for its lead candidate, pegozafermin, aimed at treating metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). The companys innovative approach involves a fibroblast growth factor 21 (FGF21) analog with glycoPEGylated technology. The event is expected to enhance investor relations and potentially boost the companys growth prospects.
Product StageManagement Changes
growth-positive
89bio Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Updates
89bio, Inc., a clinical-stage biopharmaceutical company, reported significant progress in its clinical trials and financial standing. The company is advancing its Phase 3 trials for metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG), with topline data expected in 2026, 2027, and 2028. The company completed a follow-on offering in Q1 2025, raising $287.5 million, and held $440 million in cash and equivalents at the end of 2024. The trials aim to support accelerated and conditional approvals in the US and Europe. 89bio is focused on executing its clinical trials and preparing for a Biologics License Application, pending positive trial results.
Product StagePIPE/PO
growth-positive
Wall Street Analysts See a 171.42% Upside in 89BIO (ETNB): Can the Stock Really Move This High?
89BIO (ETNB) has seen a significant increase in its stock price, closing at $11.30 and gaining 67.4% over the past four weeks. Wall Street analysts have set a mean price target of $30.67, indicating a potential upside of 171.4%. The price targets range from $12 to $49, with a standard deviation of $11.43, suggesting variability in analyst opinions. Despite skepticism about the reliability of price targets, the strong agreement among analysts about 89BIOs potential for better-than-expected earnings supports a positive outlook. The article discusses the tendency of analysts to set optimistic targets due to business incentives, but notes that a low standard deviation in targets indicates a high degree of agreement on the stocks potential direction.
growth-positive
Should You Buy 89BIO (ETNB) After Golden Cross?
89BIO (ETNB) is showing promising signs from a technical analysis perspective, as it has reached a key level of support. The companys 50-day simple moving average has crossed above its 200-day simple moving average, forming a golden cross, which is a bullish indicator. This technical pattern suggests a potential breakout, as the stock has already moved 67.4% higher over the last four weeks. Additionally, 89BIO is ranked as a #2 (Buy) on the Zacks Rank, with positive earnings estimate revisions for the current quarter. Investors are advised to monitor ETNB for potential gains in the near future.
growth-positive
Institutional investors have a lot riding on 89bio, Inc. (NASDAQ:ETNB) with 58% ownership
The article discusses the significant institutional ownership of 89bio, Inc., highlighting that institutions hold 58% of the companys stock. This ownership structure implies that the companys stock price is sensitive to the trading actions of these institutional investors. The recent 34% increase in stock price has benefited these investors, boosting the one-year return to shareholders to 40%. The largest shareholder is Janus Henderson Group plc with 11% of shares, followed by RA Capital Management, L.P. and Suvretta Capital Management, LLC. The article suggests that the presence of institutional investors indicates a positive outlook on the companys growth potential.
growth-positive
89bio Announces Closing of its Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
89bio, Inc., a clinical-stage biopharmaceutical company, announced the closing of its underwritten public offering, raising approximately $287.5 million. The offering included 25,957,142 shares of common stock and pre-funded warrants for 6,900,000 shares. The public offering price was set at $8.75 per share. The funds raised will support the companys development and commercialization of therapies for liver and cardiometabolic diseases. The offering was managed by Goldman Sachs & Co. LLC, Leerink Partners, BofA Securities, and Cantor. This financial move is expected to positively impact 89bios growth and development efforts.
PIPE/PO
growth-positive
89bio, Inc. Announces Pricing of $250.0 Million Public Offering of Common Stock and Pre-Funded Warrants
89bio, Inc., a clinical-stage biopharmaceutical company, announced the pricing of its upsized underwritten public offering of common stock and pre-funded warrants, expected to raise approximately $250 million. The offering includes 21,671,428 shares of common stock at $8.75 per share and pre-funded warrants for 6,900,000 shares at $8.749 per share. The underwriters have a 30-day option to purchase an additional 4,285,714 shares. The offering is anticipated to close on January 30, 2025, subject to customary conditions. The lead book-running managers are Goldman Sachs & Co. LLC, Leerink Partners, and BofA Securities, with Cantor acting as a book-running manager.
PIPE/PO
growth-negative
Why 89bio Stock Lagged the Market Today
89bio, a clinical-stage biotech company, announced a secondary stock issue to raise up to $287.5 million. The underwritten public offering, led by Goldman Sachs, Bank of America Securities, and Leerink Partners, includes $250 million in common stock and an option for underwriters to purchase an additional $37.5 million. The funds will support clinical activities, development of the drug pegozafermin, and general corporate purposes. Despite concerns about shareholder dilution, such fundraising is common for clinical-stage biotechs. The companys market cap is under $1.06 billion.
PIPE/POProduct Stage
growth-positive
89bio, Inc. Announces Proposed Underwritten Public Offering of Common Stock and Pre-Funded Warrants
89bio, Inc., a clinical-stage biopharmaceutical company, has announced a public offering of $250 million in common stock or pre-funded warrants. The company may also offer an additional $37.5 million in shares to underwriters. The proceeds will support clinical activities, development of pegozafermin, manufacturing costs, and general corporate purposes. The offering is led by Goldman Sachs, Leerink Partners, BofA Securities, and Cantor. The offering is subject to market conditions, and all securities are offered by 89bio. The company has filed a shelf registration statement with the SEC, and the offering will be conducted via a prospectus and prospectus supplement.
PIPE/PO
growth-positive
Akero Therapeutics Stock Doubles — Pulling 89bio Higher — On Positive MASH Study
Akero Therapeutics experienced a significant stock surge, nearly doubling in value, following the release of positive results from its MASH treatment study. This development also positively impacted the shares of 89bio. The studys results exceeded expectations, contributing to the growth-positive outlook for Akero Therapeutics. The companys treatment is currently in the clinical trial stage, and the positive study results have bolstered investor confidence.
growth-positive
89bio Provides Business Update and Outlook for 2025
89bio, Inc., a clinical-stage biopharmaceutical company, announced significant progress in its clinical trials and financial positioning. The company completed enrollment for its Phase 3 ENTRUST trial for severe hypertriglyceridemia and continues enrolling patients in its ENLIGHTEN trials for metabolic dysfunction-associated steatohepatitis (MASH). With approximately $440 million in cash and securities, 89bio strengthened its financial position through a $143.8 million equity offering and an amended credit facility with K2 HealthVentures. The company also enhanced its leadership team with key appointments, positioning itself for potential Biologics License Application (BLA) and Marketing Authorization Application (MAA) filings. These developments indicate a positive growth trajectory for 89bio as it advances its therapeutic programs.
InvestmentExpandManagement Changes
growth-negative
New Strong Sell Stocks for January 7th
The article discusses the addition of three companies, including 89bio, Inc., to the Zacks Rank #5 (Strong Sell) List. 89bio, Inc. is a clinical-stage biopharmaceutical company whose current year earnings estimate has been revised downward by 38.8% over the last 60 days. The other companies mentioned are Altice USA, Inc., a broadband communications provider, and Ashland Inc., a specialty ingredients provider, both of which also saw significant downward revisions in their earnings estimates. The article suggests that these companies are currently not favorable for investment according to Zacks Investment Research.
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced the grant of non-qualified stock options to purchase 48,000 shares of its common stock to a new employee as part of its 2023 Inducement Plan. This grant is intended to attract new talent and is in line with Nasdaq Listing Rule 5635(c)(4). The stock options will vest over four years, with 25% vesting after one year and the remainder vesting quarterly. 89bio is focused on developing therapies for liver and cardiometabolic diseases, with its lead candidate, pegozafermin, in Phase 3 clinical trials. The company is headquartered in San Francisco.
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growth-negative
Why Is 89bio, Inc. (ETNB) Among the Best Small-Cap Biotech Stocks With Massive Potential According to Hedge Funds?
The article discusses the position of 89bio, Inc. within the rapidly expanding biotechnology sector, driven by demand for novel therapies and technological advancements. Despite the sectors growth, many biotech companies, including small-cap stocks like 89bio, face challenges in turbulent markets, leading to measures such as layoffs to conserve cash. The article highlights the impact of interest rates on biotech success, a trend that emerged post-pandemic. It also mentions government initiatives to boost the biotechnology sectors economic potential and expedite product approvals. The global biotechnology market is projected to grow significantly, with a CAGR of 14% from 2024 to 2033, reaching $5.7 trillion.
Layoffs
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced the approval of non-qualified stock options for four new employees as part of its 2023 Inducement Plan. These grants, totaling 49,800 shares, were approved by the Compensation Committee of the Board of Directors on November 25, 2024. The grants are intended to attract new talent to the company and are in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options will vest over four years, with 25% vesting after one year and the remainder vesting quarterly. 89bio is focused on developing therapies for liver and cardiometabolic diseases, with its lead candidate, pegozafermin, in Phase 3 studies. The company is headquartered in San Francisco.
Expand
growth-positive
89bio to Participate in the 7th Annual Evercore HealthCONx Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced its participation in the 7th Annual Evercore HealthCONx Conference on December 3, 2024. The company will engage in a fireside chat and one-on-one investor meetings, with a webcast available on their website. 89bio focuses on developing therapies for liver and cardiometabolic diseases, with its lead candidate, pegozafermin, aimed at treating metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). The company utilizes unique glycoPEGylated technology to enhance the biological activity of its therapies. This event highlights 89bios ongoing efforts to advance its clinical programs and engage with the investment community.
growth-positive
89bio Presents New Analyses Evaluating Pegozafermin and Potential Benefit of Non-Invasive Tests from the ENLIVEN Phase 2b Trial in MASH Patients at AASLD The Liver Meeting® 2024
89bio, Inc., a clinical-stage biopharmaceutical company, presented new analyses from its Phase 2b ENLIVEN trial at The American Association for the Study of Liver Diseases (AASLD) meeting. The analyses highlight pegozafermins potential in treating metabolic dysfunction-associated steatohepatitis (MASH) with advanced fibrosis. The study demonstrated pegozafermins effectiveness in improving FAST scores, achieving MASH resolution, and reducing fibrosis progression, reinforcing its potential as a treatment option. The findings support the design of upcoming Phase 3 trials. The analyses also suggest that non-invasive tests like FAST and AGILE3+ could reduce the need for liver biopsies by identifying high-risk patients more conveniently.
growth-positive
89bio, Inc. Announces Upsized Pricing of $125.0 Million Public Offering of Common Stock and Pre-Funded Warrants
89bio, Inc., a clinical-stage biopharmaceutical company, announced the pricing of its upsized underwritten public offering. The offering includes 11,455,882 shares of common stock at $8.50 per share and pre-funded warrants for 3,250,000 shares at $8.499 per share. The gross proceeds are expected to be approximately $125 million. The offering is set to close around November 14, 2024, pending customary conditions. The underwriters, Goldman Sachs & Co. LLC, Leerink Partners, and Evercore ISI, have a 30-day option to purchase an additional 2,205,882 shares. This move is expected to bolster 89bios financial position, supporting its focus on developing therapies for liver and cardiometabolic diseases.
Investment
growth-positive
89bio, Inc. Announces Proposed Underwritten Public Offering of Common Stock and Pre-Funded Warrants
89bio, Inc., a clinical-stage biopharmaceutical company, announced a public offering of $100 million in common stock or pre-funded warrants. The offering includes an option for underwriters to purchase an additional $15 million in shares. The proceeds will fund clinical activities, development of pegozafermin, manufacturing costs, and general corporate purposes. The offering is managed by Goldman Sachs, Leerink Partners, and Evercore ISI. The registration statement was filed with the SEC, and the offering is subject to market conditions. This move is expected to support 89bios growth and development in liver and cardiometabolic disease therapies.
Investment
growth-positive
89bio Reports Third Quarter 2024 Financial Results and Corporate Updates
89bio, Inc., a clinical-stage biopharmaceutical company, is advancing its Phase 3 trials for pegozafermin, targeting metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). The company has strengthened its leadership team with new appointments and bolstered its financial position with support from K2 HealthVentures. The ongoing ENLIGHTEN and ENTRUST trials aim to achieve accelerated and conditional approvals in the US and Europe. The company is optimistic about pegozafermins potential to address significant unmet needs in liver and cardiometabolic diseases. Financial results for Q3 2024 were reported, and new data from the ENLIVEN Phase 2b trial will be presented at an upcoming liver disease conference.
Management ChangesInvestment
growth-positive
89bio to Participate in the UBS Global Healthcare Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced its participation in the UBS Global Healthcare Conference on November 12, 2024. The company, focused on developing therapies for liver and cardiometabolic diseases, will engage in a fireside chat and one-on-one investor meetings. 89bio is advancing its lead candidate, pegozafermin, through Phase 3 studies for treating metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). Pegozafermin is a fibroblast growth factor 21 (FGF21) analog designed to optimize biological activity with an extended half-life. The event will be webcasted and available on the companys website for 30 days post-conference.
growth-positive
Madrigal, 89Bio jump after Novo’s semaglutide shows promise in MASH
Shares of companies developing therapies for metabolic steatohepatitis (MASH) surged after Novo Nordisk announced promising results from its ESSENCE trial. The trial showed that semaglutide significantly improved liver fibrosis and resolved steatohepatitis without worsening liver fibrosis. This news positively impacted Madrigal Pharmaceuticals, whose shares rose by 22% following the announcement. Madrigal recently received approval for its drug Rezdiffra, and its price target was raised by UBS and Canaccord. Other companies in the MASH treatment space, such as 89Bio and Akero Therapeutics, also saw their shares rise. The trial results highlight the potential of semaglutide to address the significant unmet needs of people living with MASH.
Customers
growth-positive
Madrigal Catapults After Novo's Wegovy Proves It's No 'Silver Bullet' In MASH
Madrigals stock surged following the release of results from Novo Nordisks MASH treatment, which were not considered game-changing. This development has been perceived positively for Madrigal, as it suggests that Novo Nordisks treatment may not pose a significant competitive threat. The markets reaction indicates confidence in Madrigals position in the MASH treatment space, potentially boosting its growth prospects.
growth-negative
Suvretta Capital Management's Strategic Reduction in 89bio Inc Holdings
On October 17, 2024, Suvretta Capital Management, LLC reduced its holdings in 89bio Inc by 40,201 shares at $8.61 each, retaining 7,991,644 shares, which constitute 7.50% of 89bios outstanding shares. This strategic reduction reflects a cautious outlook due to 89bios stock performance, which has seen a 27.28% decline year-to-date and a 58.95% drop since its IPO. The biotechnology sectors inherent volatility and the companys financial challenges, indicated by a GF Score of 40/100, may have influenced this decision. Suvrettas move suggests a potential shift towards more stable investments amidst market uncertainties. The future of 89bio, a clinical-stage biopharmaceutical company, hinges on the results of its flagship product candidate, pegozafermin, and broader market conditions.
Investment
growth-positive
State Street Corp's Strategic Acquisition in 89bio Inc
On September 30, 2024, State Street Corp expanded its investment portfolio by acquiring 7,184 shares of 89bio Inc, a biopharmaceutical company, at $7.40 per share. This acquisition increased State Streets total holdings in 89bio Inc to 3,251,687 shares, reflecting a strategic move to strengthen its position in the biotechnology sector. Despite 89bio Incs challenging market performance, with a year-to-date decline of 26.57%, the acquisition aligns with State Streets strategy to diversify its portfolio and potentially offset risks in other sectors. The biotechnology sectors growth potential, especially in innovative medical treatments, presents opportunities for substantial returns. This investment is part of State Streets broader strategy to leverage market trends and maximize returns.
InvestmentAcquisition
growth-positive
89bio to Present New Analyses from ENLIVEN Phase 2b Pegozafermin Trial in Metabolic Dysfunction-Associated Steatohepatitis (MASH) at AASLD The Liver Meeting® 2024
89bio, Inc., a clinical-stage biopharmaceutical company, announced new analyses from its Phase 2b ENLIVEN trial evaluating pegozafermin for treating metabolic dysfunction-associated steatohepatitis (MASH) with fibrosis. The findings will be presented at the 75th Annual American Association for the Study of Liver Diseases (AASLD) meeting in November 2024. The ENLIVEN trial showed promising results, achieving high statistical significance in primary histology endpoints. Pegozafermin, a glycoPEGylated analog of fibroblast growth factor 21 (FGF21), demonstrated anti-fibrotic and anti-inflammatory effects, improved insulin resistance, and maintained a favorable safety profile. The drug has received Breakthrough Therapy designation from the FDA and Priority Medicines status from the EMA. 89bio is advancing pegozafermin through Phase 3 trials for MASH and severe hypertriglyceridemia (SHTG).
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced the granting of non-qualified stock options to two new employees as part of its 2023 Inducement Plan. These grants, totaling 265,000 shares, are intended to attract new talent and are aligned with Nasdaq Listing Rule 5635(c)(4). The options will vest over four years, with an initial 25% vesting after one year and the remainder vesting quarterly. This move is part of 89bios efforts to enhance its workforce as it advances its lead candidate, pegozafermin, through Phase 3 studies for treating metabolic dysfunction-associated steatohepatitis and severe hypertriglyceridemia. The company is headquartered in San Francisco.
Expand
growth-positive
89bio to Participate in the H.C. Wainwright 8th Annual MASH Investor Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced its participation in the H.C. Wainwright 8th Annual MASH Investor Conference on October 7, 2024. The company will engage in a fireside chat and one-on-one investor meetings. The webcast of the presentation will be available on 89bio’s website, with a replay accessible for 30 days. 89bio is focused on developing therapies for liver and cardiometabolic diseases and is currently in Phase 3 studies for its lead candidate, pegozafermin. The company aims to optimize biological activity through its unique glycoPEGylated technology.
Investment
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced the grant of non-qualified stock options to purchase 15,000 shares of the companys common stock to a new employee. This grant, approved by the Compensation Committee of the Board of Directors on September 13, 2024, is part of the companys 2023 Inducement Plan. The options have an exercise price equal to the closing price on the grant date and will vest over four years. 89bio focuses on developing therapies for liver and cardiometabolic diseases and is currently in Phase 3 studies for its lead candidate, pegozafermin.
Expand
growth-positive
89bio Announces Appointment of Teresa Perney, Ph.D. as Chief Regulatory and Quality Officer
89bio, Inc., a clinical-stage biopharmaceutical company, announced the appointment of Dr. Teresa Perney as Chief Regulatory and Quality Officer, effective September 16, 2024. Dr. Perney brings over 20 years of experience in the biotech and pharmaceutical industry, having held senior positions at EQRx, Myovant Sciences, Pfizer, Medivation, Hoffman LaRoche/Genentech, and Schering Plough Research Institute. Her expertise in regulatory affairs, product development, and quality assurance is expected to be instrumental as 89bio advances its lead candidate, pegozafermin, through multiple global Phase 3 studies. The company focuses on developing therapies for liver and cardiometabolic diseases.
Management Changes
growth-positive
89bio to Participate in Upcoming Investor Conferences
89bio, Inc., a clinical-stage biopharmaceutical company focused on liver and cardiometabolic diseases, announced its participation in several investor conferences in September 2024. The company will present at the Wells Fargo 2024 Healthcare Conference, H.C. Wainwright 26th Annual Global Investment Conference, and 2024 Cantor Global Healthcare Conference. These events will feature webcasts accessible on 89bio’s website. The company is advancing its lead candidate, pegozafermin, in Phase 3 studies for treating metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG).
Investment
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that its Compensation Committee approved the grant of non-qualified stock options to two new employees and the newly-hired Chief Operating Officer, Francis Sarena. The grants, totalling 369,800 shares of the companys common stock, were made as an inducement for these individuals to join 89bio. The grants will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employee’s start date.
Management ChangesExpand
growth-positive
89bio Appoints Francis Sarena as Chief Operating Officer
89bio, Inc., a clinical-stage biopharmaceutical company, has announced the appointment of Francis Sarena as Chief Operating Officer, effective from August 5, 2024. The company is currently in a pivotal growth phase and is preparing to scale up its Phase 3 clinical program for pegozafermin, a potential treatment for liver and cardiometabolic diseases. Sarenas extensive experience in strategic, operational, business development and leadership roles is expected to be valuable for the companys growth and development.
Management Changes
growth-positive
89bio Appoints Charles McWherter, Ph.D., to its Board of Directors
89bio, Inc., a clinical-stage biopharmaceutical company, has announced the appointment of Dr. Charles McWherter to its Board of Directors. Dr. McWherter previously served as Chief Scientific Officer and President of Research and Development at CymaBay Therapeutics until it was acquired by Gilead Sciences in March 2024. His expertise in drug development and knowledge of liver inflammation and fibrosis will be valuable as 89bio advances its Phase 3 trials for non-cirrhotic and cirrhotic MASH, and its synergistic Phase 3 trial in SHTG.
Management Changes
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that its Compensation Committee has approved the grant of non-qualified stock options to purchase an aggregate of 125,000 shares of the companys common stock to six new employees. The grants were made as an inducement for these individuals to join 89bio. The stock options will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employees start date.
Expand
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, announced that the Compensation Committee of the Company’s Board of Directors approved the grant of non-qualified stock options to purchase an aggregate of 25,500 shares of the Company’s common stock to two new employees. The Inducement Grants were granted as an inducement material to these individuals entering into employment with 89bio. The company is focused on rapidly advancing its lead candidate, pegozafermin, through clinical development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG).
Management ChangesExpand
growth-positive
89bio to Present 48-Week Data from ENLIVEN Phase 2b Pegozafermin Trial in Metabolic Dysfunction-Associated Steatohepatitis (MASH) at EASL International Liver Congress
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that data from the 48-week extension phase of the Phase 2b ENLIVEN trial evaluating pegozafermin in patients with metabolic dysfunction-associated steatohepatitis (MASH) with fibrosis will be presented at the European Association for the Study of the Liver (EASL) Congress. The data, being presented for the first time in a scientific setting, establish pegozafermin as the first FGF21 analog candidate to demonstrate positive, sustained benefits over a 48-week period in patients with advanced MASH.
CustomersInvestment
growth-positive
89bio Initiates Phase 3 ENLIGHTEN-Cirrhosis Trial of Pegozafermin in Metabolic Dysfunction-Associated Steatohepatitis (MASH) Patients with Compensated Cirrhosis
89bio, Inc., a clinical-stage biopharmaceutical company, has announced the initiation of ENLIGHTEN-Cirrhosis, a Phase 3 trial of pegozafermin in patients with MASH with compensated cirrhosis. This marks a significant milestone for pegozafermin as it becomes the first FGF21 analog to enter a Phase 3 trial in MASH patients with compensated cirrhosis. The trial will enroll approximately 760 patients, who will be randomized to either receive 30mg of pegozafermin administered weekly or a placebo. The interim analysis primary endpoint of fibrosis regression is defined as improvement in fibrosis from F4 to an earlier stage.
InvestmentExpand
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that its Compensation Committee has approved the grant of non-qualified stock options to four new employees. The options, which allow for the purchase of an aggregate of 48,150 shares of the companys common stock, were granted as an inducement for these individuals to enter employment with 89bio. The company is focused on developing innovative therapies for the treatment of liver and cardiometabolic diseases.
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growth-negative
89bio Inc (ETNB) Reports Increased Losses in Q1 2024 Despite Advancements in Clinical Trials
89bio Inc, a clinical-stage biopharmaceutical company, reported a net loss of $51.7 million for Q1 2024, an increase from a net loss of $28.8 million in Q1 2023. The increased loss is attributed to a rise in R&D and G&A expenses. Despite the financial downturn, the company reported significant progress in its clinical development activities, including the initiation of the Phase 3 ENLIGHTEN-Fibrosis trial for MASH patients. The companys lead product candidate, pegozafermin, was granted Priority Medicines (PRIME) status by the European Medicines Agency (EMA).
Investment
growth-positive
‘Jump on the Bandwagon,’ Says Bank of America About These 2 Stock Picks
Bank of America analysts are bullish on Cisco Systems and 89bio, Inc. due to their potential for wider gains. Cisco Systems, a networking technology company, recently acquired analytic software company Splunk for approximately $28 billion, making Cisco one of the worlds largest software companies. Despite underperforming in recent months, Bank of America analysts believe Ciscos strengths in AI and Security segments, as well as the Splunk acquisition, outweigh the weaknesses. 89bio, a research-oriented biopharmaceutical company, is also seen as a promising investment due to its advanced drug candidate BIO89-100, which targets liver and cardio-metabolic diseases.
AcquisitionInvestment
growth-positive
89bio Reports First Quarter 2024 Financial Results and Provides Corporate Update
89bio, Inc. has initiated Phase 3 ENLIGHTEN-Fibrosis trial in non-cirrhotic metabolic dysfunction-associated steatohepatitis (MASH) patients and expects to initiate ENLIGHTEN-Cirrhosis trial this quarter in MASH patients with compensated cirrhosis. The company has been granted Priority Medicines (PRIME) status from the European Medicines Agency (EMA) for pegozafermin in the treatment of MASH with fibrosis and compensated cirrhosis. 89bio has also entered into a collaboration agreement with BiBo Biopharma Engineering Co., Ltd. for the production of pegozafermin for commercial supply. The company reported a net loss of $51.7 million for the first quarter ended March 31, 2024.
InvestmentManagement ChangesExpand
growth-positive
89bio to Participate in the BofA Securities 2024 Health Care Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced that its management will present at the BofA Securities 2024 Health Care Conference on May 15, 2024. The company is focused on developing innovative therapies for the treatment of liver and cardiometabolic diseases. Its lead candidate is pegozafermin, a specifically engineered fibroblast growth factor 21 (FGF21) analog for the treatment of metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG).
Investment
growth-positive
89bio to Host Key Opinion Leader Webinar on Pegozafermin’s Opportunity in Advanced MASH
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that it will host a key opinion leader event featuring a presentation from expert hepatologist, Arun Sanyal, M.D., on advanced metabolic dysfunction-associated steatohepatitis (MASH). The webinar will provide an overview of the ENLIGHTEN-Cirrhosis trial and the commercial opportunity for pegozafermin in advanced MASH. The event is scheduled for Thursday, May 16, 2024.
Customers
growth-positive
89bio Appoints Biotech Industry Veteran, Martin Babler to its Board of Directors
89bio, Inc., a clinical-stage biopharmaceutical company, announced the appointment of Martin Babler to its Board of Directors, effective April 13, 2024. Babler brings over 30 years of experience in the pharmaceutical and biotech industries, currently serving as President, CEO, and Chairman of Alumis Therapeutics. His extensive background includes roles at Principia Biopharma, Talima Therapeutics, Genentech, and Eli Lilly. The appointment comes as 89bio advances its Phase 3 programs for pegozafermin, a treatment for metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). The company aims to leverage Bablers expertise to navigate the late-stage development and commercialization of pegozafermin.
Management Changes
growth-positive
89bio Appoints Biotech Industry Veteran, Martin Babler to its Board of Directors
89bio, a clinical-stage biopharmaceutical company, has announced the appointment of Martin Babler to its Board of Directors. Babler, who is currently the President, CEO, and Chairman of Alumis Therapeutics, brings over 30 years of industry experience to the company. His appointment comes at a time when 89bio is executing its ongoing Phase 3 programs for pegozafermin, a treatment for liver and cardiometabolic diseases. Bablers experience in building and leading companies through commercialization is expected to be invaluable to 89bio at this stage in its development.
Management Changes
89bio lines up China CDMO to build API plant for commercial production of MASH candidate
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that its Compensation Committee has approved the grant of non-qualified stock options to purchase an aggregate of 138,550 shares of the company’s common stock to eight new employees. The stock options have been granted as an inducement for these individuals to join 89bio. The company is focused on the development and commercialization of therapies for the treatment of liver and cardiometabolic diseases.
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growth-negative
89bio Inc CEO Rohan Palekar Sells 52,718 Shares
Rohan Palekar, CEO of 89bio Inc, sold 52,718 shares in the company on April 1, 2024, according to an SEC filing. The sale was made at a price of $10.91 per share, totalling $575,366.58. This continues a trend of more insider sales than purchases over the past year, with Palekar selling a total of 72,195 shares. The market cap of 89bio Inc now stands at approximately $1.016 billion.
Management Changes
growth-positive
89bio Receives EMA PRIME Status for Pegozafermin in the Treatment of Metabolic Dysfunction-Associated Steatohepatitis (MASH) with Fibrosis and Compensated Cirrhosis
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that the European Medicines Agency (EMA) has granted Priority Medicines (PRIME) status to pegozafermin for the treatment of patients with Metabolic dysfunction-associated steatohepatitis (MASH). The PRIME status was supported by positive data from the Phase 2b ENLIVEN trial of pegozafermin. The company is currently enrolling for the Phase 3 ENLIGHTEN-Fibrosis trial in non-cirrhotic MASH patients and plans to initiate the ENLIGHTEN-Cirrhosis trial in MASH patients with compensated cirrhosis in the second quarter of 2024.
Investment
Ozempic Can’t Do It All—A Potential New Blockbuster Is a Reminder of That
growth-positive
13 Best Biotech Stocks To Buy Under $20
The article discusses the potential of investing in biotech stocks, particularly those under $20. It highlights the healthcare sector as a stable investment area, as people will always need treatment regardless of the macroeconomic environment. The article also mentions the volatility of the biotech industry, as it often involves companies in the process of developing new drugs, therapies, and vaccines. It cites Moderna Inc as an example of a biotech company that has seen significant growth, with its shares surging from less than $20 in January 2020 to $449 by September 2021 due to the release of its COVID-19 vaccine.
Investment
growth-positive
89bio Initiates Phase 3 ENLIGHTEN-Fibrosis Trial of Pegozafermin in Non-Cirrhotic Metabolic Dysfunction-Associated Steatohepatitis (MASH) Patients with Fibrosis
89bio, Inc. has announced the initiation of its Phase 3 ENLIGHTEN Program, which aims to evaluate the efficacy and safety of pegozafermin in patients with metabolic dysfunction-associated steatohepatitis (MASH). The first of two Phase 3 trials, ENLIGHTEN-Fibrosis, has begun and is evaluating non-cirrhotic MASH patients with fibrosis stage F2-F3. The second trial, ENLIGHTEN-Cirrhosis, is planned to evaluate patients with compensated cirrhosis and is expected to initiate in the second quarter of 2024. The company is optimistic about the potential of pegozafermin, a leading and potentially best-in-class FGF21 analog, in treating MASH.
InvestmentExpand
Growth-Positive
89bio Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
On March 8, 2024, 89bio, Inc., a clinical-stage biopharmaceutical company, announced that its Compensation Committee approved the grant of non-qualified stock options to a new employee. The employee will receive options to purchase 10,800 shares of the companys common stock. The options will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employees start date. The remainder of the shares will vest in 12 equal quarterly installments, provided the employee continues to work for 89bio.
Expand
growth-positive
89bio to Participate in the Leerink Partners Global Biopharma Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced that its management will participate in a fireside chat at the Leerink Partners Global Biopharma Conference on March 12, 2024. The company is focused on developing innovative therapies for the treatment of liver and cardiometabolic diseases. Its lead candidate, pegozafermin, is being advanced rapidly through clinical development for the treatment of nonalcoholic steatohepatitis (NASH) and severe hypertriglyceridemia (SHTG). Pegozafermin has been granted Breakthrough Therapy Designation for the treatment of NASH with fibrosis from the U.S. Food and Drug Administration (FDA).
InvestmentManagement Changes
growth-positive
Akero (AKRO) Up on Upbeat Week 96 Data From Liver Disease Study
Akero Therapeutics has announced a significant improvement in the primary endpoint of its mid-stage study, evaluating the efficacy and safety of efruxifermin (EFX) in patients with pre-cirrhotic metabolic dysfunction-associated steatohepatitis (MASH), fibrosis stage 2 or 3, at week 96. The positive results boosted Akeros stock by 11.7% on March 4. The company is also evaluating EFX in its ongoing phase III SYNCHRONY program, with plans to initiate the third phase III study in the first half of 2024. The positive results from Akeros study also boosted the shares of rival company, 89bio, which is developing a similar treatment for MASH.
Investment
growth-positive
Wall Street Analysts Believe 89BIO (ETNB) Could Rally 121.5%: Here's is How to Trade
Shares of 89BIO (ETNB) have seen a 40.5% increase over the past four weeks, closing the last trading session at $13.77. However, Wall Street analysts predict further growth, with a mean estimate of $30.50, indicating a potential upside of 121.5%. The companys earnings prospects have also been revised upwards, with the Zacks Consensus Estimate for the current year increasing 9.2% over the past month. ETNB currently has a Zacks Rank #2 (Buy), placing it in the top 20% of more than 4,000 stocks.
Investment
Growth-Positive
89BIO (ETNB) Just Overtook the 200-Day Moving Average
89BIO (ETNB) has surpassed resistance at the 200-day moving average, indicating a long-term bullish trend. Over the past four weeks, ETNB has gained 40.5% and is currently ranked a Zacks Rank #2 (Buy), suggesting the stock could continue to rise. The companys positive earnings estimate revisions also strengthen the bullish case, with no estimates going lower in the past two months for the current fiscal year, compared to 3 higher. The consensus estimate has also increased.
Growth-Negative
Data Suggests Makers of Fatty Liver Treatments Won’t Be Displaced by Obesity Drugs
The rise of highly effective obesity medications known as GLP-1s, including Ozempic and Zepbound, has led some investors to worry about the size of the market for companies developing drugs for fatty liver disease. Studies have shown that these GLP-1 drugs can also lead to significant improvement for patients suffering from a fatty liver disease known as MASH, or metabolic dysfunction-associated steatohepatitis.
Customers
Why Akero Rocketed — And Rival 89bio Topped It — On Results In Liver Disease Treatment
Growth-Positive
89bio Inc (ETNB) Reports Increased R&D Spend and Strengthened Cash Position in Q4 and Full ...
89bio Inc released its financial results for Q4 and the full year of 2023, reporting a strengthened cash position of $578.9 million, a significant increase from the $188.2 million reported at the end of 2022. This was largely due to a successful follow-on offering in Q4 2023, which generated $172.5 million in gross proceeds. R&D expenses rose to $33.6 million for Q4 and $122.2 million for the full year, reflecting increased investment in clinical programs. The company also reported positive Phase 2b ENLIVEN trial results and preparations for Phase 3 trials in NASH and ongoing SHTG trial.
InvestmentExpand
growth-positive
89bio Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Updates
89bio, Inc., a clinical-stage biopharmaceutical company, has announced plans to initiate the Phase 3 ENLIGHTEN NASH program for non-cirrhotic and cirrhotic patients in 2024. The company has also reported its financial results for the fourth quarter and full year ended December 31, 2023, showing a significant increase in cash, cash equivalents and marketable securities. The company completed a follow-on offering in the fourth quarter of 2023 for $172.5 million in gross proceeds. The company is focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases.
InvestmentExpand
Neutral
11 Best Small-Cap Growth Stocks to Invest In
The article discusses the potential benefits and risks of investing in small-cap stocks, which are companies with a market capitalization of less than $2 billion. It highlights the potential for high returns but also the risks, including liquidity issues and vulnerability to economic events. The article provides a list of small-cap stocks that hedge funds are investing in, including ON Semiconductor Corporation, Neurocrine Biosciences, and Flex Ltd. The ranking is based on the number of hedge funds that had bought the shares as of Q4 2023.
Investment
growth-positive
89bio to Participate in the Oppenheimer 34th Annual Healthcare Life Sciences Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced that its Management will present at the Oppenheimer 34th Annual Healthcare Life Sciences Conference on February 13, 2024. The company is focused on developing innovative therapies for liver and cardiometabolic diseases. Its lead candidate is pegozafermin, which is being developed for the treatment of nonalcoholic steatohepatitis (NASH) and severe hypertriglyceridemia (SHTG). Pegozafermin is a specifically engineered fibroblast growth factor 21 (FGF21) analog with unique glycoPEGylated technology that optimizes biological activity through an extended half-life.
Management Changes
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that its Compensation Committee has approved the grant of non-qualified stock options to two new employees. The options, which allow the purchase of a total of 28,400 shares of the companys common stock, were granted as an inducement for the individuals to join the company. The options will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employees start date. The remainder of the shares will vest in 12 equal quarterly installments, subject to each employees continued employment with 89bio.
Expand
growth-positive
89BIO (ETNB) Recently Broke Out Above the 20-Day Moving Average
89BIO (ETNB) has surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend. The 20-day simple moving average is a popular trading tool that provides a look back at a stocks price over a 20-day period. Shares of ETNB have been moving higher over the past four weeks, up 11.4%. The company is currently a Zacks Rank #2 (Buy) stock, suggesting that ETNB could be poised for a continued surge. ETNBs positive earnings estimate revisions further solidify the bullish case.
growth-positive
Does 89BIO (ETNB) Have the Potential to Rally 168.77% as Wall Street Analysts Expect?
Shares of 89BIO (ETNB) have gained 17% over the past four weeks, closing the last trading session at $11.72. Wall Street analysts predict a potential upside of 168.8% with a mean estimate of $31.50. The consensus among analysts is that the company will report better earnings than previously estimated, which could indicate a potential upside in ETNB. However, investors are cautioned against making investment decisions based solely on price targets. The Zacks Consensus Estimate for the current year has increased 2.6% over the past month, and ETNB currently has a Zacks Rank #2 (Buy).
growth-positive
89bio, Inc.'s (NASDAQ:ETNB) one-year returns climbed after last week's 7.0% gain, institutional investors must be happy
Institutional investors hold a 64% stake in 89bio, Inc., making the companys stock price sensitive to their trading actions. The top 13 shareholders hold 51% of the business. Hedge funds own 5.2% of 89bio, with RA Capital Management, L.P. being the largest shareholder with 12% of shares outstanding. The general public owns 17% of 89bio, and private equity firms hold a 12% stake. The companys one-year return on investment is currently 4.3%, and last weeks gain was 7.0%.
Investment
growth-positive
89bio Announces Closing of its Upsized Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
89bio, Inc., a clinical-stage biopharmaceutical company, has closed its upsized underwritten public offering of over 17 million shares of its common stock at $9.25 per share. The gross proceeds to the company were approximately $172.5 million. The offering also included pre-funded warrants to purchase up to 1,081,081 shares of its common stock. BofA Securities and Leerink Partners acted as lead book-running managers for the offering, with Cantor, Raymond James, UBS Investment Bank, and H.C. Wainwright & Co. also acting as book-running managers.
Public TradingInvestment
growth-positive
89bio, Inc. Announces Upsized Pricing of $150.0 Million Public Offering of Common Stock and Pre-Funded Warrants
89bio, Inc., a clinical-stage biopharmaceutical company, has announced the pricing of its upsized underwritten public offering of over 15 million shares of its common stock at a price per share of $9.25. The company has also offered pre-funded warrants to purchase up to 1,081,081 shares of its common stock at a public offering price of $9.249. The gross proceeds of the offering to 89bio are expected to be approximately $150.0 million. The offering is expected to close on or about December 11, 2023.
InvestmentPublic Trading
growth-positive
89bio, Inc. Announces Proposed Underwritten Public Offering of Common Stock and Pre-Funded Warrants
89bio, Inc., a clinical-stage biopharmaceutical company, has announced a public offering of $125 million of its common stock. The company also plans to grant underwriters an option to purchase up to an additional $18.75 million of shares. The proceeds from the offering will be used to fund ongoing clinical activities and development of pegozafermin, manufacturing scale-up, and other general corporate purposes. The offering is subject to market and other conditions. BofA Securities and Leerink Partners are acting as lead book-running managers for the proposed offering.
InvestmentPublic Trading
growth-positive
89bio Reaches Alignment with the FDA and EMA on Phase 3 Program for Pegozafermin in Nonalcoholic Steatohepatitis (NASH); Program Initiation Planned in the First Half of 2024
89bio, Inc., a clinical-stage biopharmaceutical company, has announced a successful end-of-Phase 2 Meeting with the U.S. Food & Drug Administration (FDA), supporting the advancement of pegozafermin into Phase 3 in NASH. The program will include two Phase 3 trials evaluating patients with NASH. The F2-F3 and the F4 trials are expected to initiate in the first quarter and the second quarter of 2024, respectively. The FDA has agreed to an accelerated approval pathway in F4 patients using histology and for the outcomes portion of the trial, has agreed to modified definitions of some clinical outcomes, which could potentially expedite the timeline to readout.
InvestmentExpand
growth-positive
89bio Announces New Positive Long-Term Data from the ENLIVEN Phase 2b Trial of Pegozafermin in Patients with Nonalcoholic Steatohepatitis (NASH)
89bio, Inc. has announced positive topline data from the blinded extension phase of its Phase 2b ENLIVEN trial evaluating treatment with pegozafermin in patients with nonalcoholic steatohepatitis (NASH). The data showed sustained statistically significant improvements across liver fat and non-invasive tests of liver injury/inflammation and fibrosis in NASH patients with fibrosis stage F2-F3. The company is now working with regulatory agencies and plans to provide additional details of its Phase 3 NASH program before the end of 2023.
Customers
growth-positive
89bio to Participate in the 6th Annual Evercore ISI HEALTHCONx Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced that its management will participate in a fireside chat at the 6th Annual Evercore HEALTHCONx Conference on November 28, 2023. The company is focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases. Its lead candidate, pegozafermin, is being rapidly advanced through clinical development for the treatment of nonalcoholic steatohepatitis (NASH) and severe hypertriglyceridemia (SHTG). Pegozafermin has been granted Breakthrough Therapy Designation for the treatment of NASH with fibrosis from the U.S. Food and Drug Administration (FDA).
growth-positive
89bio Announces Additional Data from the ENLIVEN Phase 2b Trial of Pegozafermin in Patients with Compensated Cirrhotic (F4) Nonalcoholic Steatohepatitis (NASH) at AASLD The Liver Meeting® 2023
89bio, Inc., a clinical-stage biopharmaceutical company, announced additional data from a post-hoc analysis of the ENLIVEN Phase 2b trial evaluating treatment with pegozafermin in patients with F4 NASH. The data suggests that pegozafermin could potentially provide benefits to these patients by addressing both liver pathology and the metabolic irregularities that may contribute to the disease. The company plans to initiate its Phase 3 program in the first half of next year pending feedback from regulatory agencies. The U.S. Food and Drug Administration (FDA) granted pegozafermin Breakthrough Therapy designation (BTD) for the treatment of NASH with fibrosis.
InvestmentExpand
growth-negative
89bio Inc (ETNB) Reports Increased R&D and G&A Expenses in Q3 2023
89bio Inc reported a net loss of $34.7 million for Q3 2023, primarily due to increased R&D and G&A expenses. The companys cash and short-term investments totaled $448.3 million as of September 30, 2023. The companys lead candidate, Pegozafermin, received Breakthrough Therapy Designation for NASH with fibrosis treatment. The Phase 3 development program for Pegozafermin in NASH is expected to initiate in the first half of 2024. The company is also enrolling patients in ENTRUST, the Phase 3 trial of Pegozafermin in patients with SHTG.
Investment
growth-positive
89bio Reports Third Quarter 2023 Financial Results and Provides Corporate Updates
89bio, Inc., a clinical-stage biopharmaceutical company, has been granted Breakthrough Therapy Designation (BTD) for pegozafermin, a treatment for nonalcoholic steatohepatitis (NASH) with fibrosis. The company expects to initiate its Phase 3 program in NASH in the first half of 2024. It also reported its financial results for Q3 2023, with cash, cash equivalents and short-term available-for-sale securities totaling $448.3 million. R&D expenses were $31.4 million, and G&A expenses were $7.9 million. The company reported a net loss of $34.7 million.
InvestmentManagement Changes
89bio to Participate in the H.C. Wainwright 7ᵗʰ Annual NASH Investor Conference
growth-negative
Texas Instruments margins in for a squeeze; Silk Road walloped: 5 big analyst cuts
Several companies including Texas Instruments, Silk Road Medical, HubSpot, 89bio, and Arista Networks have received downgrades from various analysts. Texas Instruments was downgraded by Oppenheimer due to expected sustained margin pressure. Silk Road Medical was downgraded by three firms following a Q3 preliminary revenue miss, reduced full-year guidance, and the retirement of CEO Erica Rogers. HubSpot was downgraded by Raymond James, while Arista Networks was downgraded by Piper Sandler due to concerns about the companys networking spend in 2024. 89bio was downgraded by Oppenheimer following disappointing trial data from a peer developing a similar therapy.
Management ChangesCustomers
growth-negative
Why Shares of 89bio Plummeted on Tuesday
Shares of healthcare company 89bio fell by over 37% after disappointing trial data was released by peer company Akero Therapeutics for a nonalcoholic steatohepatitis (NASH) therapy similar to one being developed by 89bio. The latter company, which focuses on liver and cardiometabolic diseases, was recently granted a Breakthrough Therapy Designation by the FDA for pegozafermin as a potential NASH treatment. However, concerns have arisen due to the therapys similarity to Akeros efruxifermin. 89bio reported no revenue and a net loss of $34.9 million for Q2, but with $478 million in cash, it should be able to fund operations for at least another three years.
Investment
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that its Compensation Committee approved the grant of non-qualified stock options to purchase an aggregate of 116,000 shares of the company’s common stock to four new employees. The stock options will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employee’s start date. The remainder of the shares will vest in 12 equal quarterly installments, subject to each employee’s continued employment with 89bio.
Expand
growth-positive
89bio Announces U.S. FDA has Granted Breakthrough Therapy Designation for Pegozafermin in Nonalcoholic Steatohepatitis (NASH)
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that the U.S. Food and Drug Administration (FDA) has granted Breakthrough Therapy Designation (BTD) to pegozafermin, a treatment for nonalcoholic steatohepatitis (NASH). The BTD was supported by positive data from the ENLIVEN Phase 2b trial of pegozafermin in patients with NASH. The company plans to discuss its Phase 3 development strategy with regulatory agencies in the fourth quarter of 2023. The CEO of 89bio believes that pegozafermin is well positioned as a leading treatment option for NASH.
InvestmentExpand
Growth-Positive
89bio to Participate in the 2023 Cantor Global Healthcare Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced that the Company’s Management will participate in a fireside chat and one-on-one investor meetings at the 2023 Cantor Global Healthcare Conference in New York. The company is focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases. Its lead candidate is pegozafermin, a specifically engineered fibroblast growth factor 21 (FGF21) analog with unique glycoPEGylated technology that optimizes biological activity through an extended half-life.
Management Changes
growth-positive
89bio Insider Ups Holding By 41% During Year
Insiders at 89bio, Inc. have been net buyers of the companys stock over the past 12 months. The largest single purchase was made by Independent Director Michael Hayden, who bought US$1.0m worth of shares at a price of US$16.15 per share. The current share price is US$16.61. This suggests that insiders have been optimistic about the companys prospects. However, the level of insider ownership is not particularly high, with insiders owning about US$9.9m worth of shares, or 0.8% of the company.
Investment
growth-positive
89bio to Participate in the H.C. Wainwright 25th Annual Global Investment Conference
89bio, Inc., a clinical-stage biopharmaceutical company, announced that its management will participate in a fireside chat and one-on-one investor meetings at the H.C. Wainwright 25th Annual Global Investment Conference in New York on September 11, 2023. The company is focused on developing therapies for liver and cardiometabolic diseases. Its lead candidate is pegozafermin, which is being developed for the treatment of non-alcoholic steatohepatitis (NASH) and severe hypertriglyceridemia (SHTG).
InvestmentManagement Changes
growth-positive
89bio Reports Second Quarter 2023 Financial Results and Provides Corporate Update
89bio, Inc. has published data from its ENLIVEN Phase 2b trial of pegozafermin in NASH in The New England Journal of Medicine and presented the data at the EASL International Liver Congress. The company also initiated the ENTRUST Phase 3 trial of pegozafermin in patients with severe hypertriglyceridemia (SHTG). The company reported financial results for the second quarter ended June 30, 2023, with cash, cash equivalents and short-term available-for-sale securities totaling $478.0 million. R&D expenses were $34.9 million, compared to $19.7 million for the same period in 2022. The company reported a net loss of $38.4 million for the three months ended June 30, 2023.
InvestmentExpand
growth-positive
89bio Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that its Compensation Committee has approved the grant of non-qualified stock options to purchase an aggregate of 2,600 shares of the companys common stock to a new employee. The grant is part of the companys 2023 Inducement Plan and is intended to incentivize the new employees continued employment with the company. The stock options will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employees start date.
Management Changes
growth-positive
89bio Publishes Positive Results from Phase 2 ENTRIGUE Trial of Pegozafermin in Patients with Severe Hypertriglyceridemia (SHTG) in Nature Medicine
89bio, Inc. announced that positive data from the Phase 2 ENTRIGUE trial of pegozafermin in patients with severe hypertriglyceridemia (SHTG) were published online in Nature Medicine. The trial showed consistent and significant reductions in triglycerides, improvements in atherogenic lipoproteins, metabolic measures, liver fat, and markers of liver inflammation. Pegozafermin is a potential treatment for SHTG and non-alcoholic steatohepatitis (NASH). The company believes that the publication of positive Phase 2 data strengthens the potential of pegozafermin as a future meaningful treatment option. SHTG is a lipid abnormality associated with an increased risk for acute pancreatitis and cardiovascular diseases. The current standard of care for SHTG has limited effectiveness. Pegozafermin is a fibroblast growth factor 21 (FGF21) analog.
Customers
growth-positive
Data from 89bio’s ENLIVEN Phase 2b Trial of Pegozafermin in Patients with Nonalcoholic Steatohepatitis (NASH) Published in The New England Journal of Medicine and Simultaneously Presented in a Late-breaker Session at the EASL International Liver Congress
89bio, Inc. has announced positive results from its Phase 2b ENLIVEN trial evaluating pegozafermin, a treatment for nonalcoholic steatohepatitis (NASH). The trial demonstrated statistically significant changes on both primary histology endpoints. The data also showed pegozafermin resulted in significant benefit across several key sub populations of NASH patients, and that adding pegozafermin to patients taking GLP-1 therapies improved key NASH measures. The company plans to advance into Phase 3 trials in NASH in the second half of 2023.
InvestmentExpand
growth-positive
89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio, Inc. has announced the approval of non-qualified stock options for six new employees. The options were granted as an inducement for the employees to join the company. The options have an exercise price per share equal to the closing price of 89bios common stock on the grant date and will vest over a four-year period. 89bio is a clinical-stage biopharmaceutical company focused on developing therapies for liver and cardiometabolic diseases, with a focus on their lead candidate, pegozafermin, for the treatment of NASH and SHTG.
Expand
growth-positive
89bio Announces Late-Breaker Oral Presentation of Data from the Phase 2 ENLIVEN Study of Pegozafermin at EASL International Liver Congress 2023
89bio, Inc. announced that pegozafermin data in nonalcoholic steatohepatitis (NASH) will be featured in a late-breaker oral presentation during the European Association for the Study of the Liver (EASL) Congress 2023. The company is focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases. They will also present data from a preclinical study. 89bio is a clinical-stage biopharmaceutical company dedicated to the development of best-in-class therapies for patients with liver and cardiometabolic diseases. The company is headquartered in San Francisco.
Partners
growth-positive
89BIO (ETNB) Just Overtook the 20-Day Moving Average
The article discusses how 89BIO (ETNB) has reached a key level of support and crossed above the 20-day moving average, indicating a short-term bullish trend. The companys stock has been moving higher over the past four weeks and is currently a Zacks Rank #3 (Hold) stock. The article suggests that investors may want to watch ETNB for more gains in the near future based on its technical level and positive earnings estimate revisions.
Public Trading
growth-positive
89bio Initiates Phase 3 ENTRUST Trial of Pegozafermin in Patients with Severe Hypertriglyceridemia (SHTG)
89bio, Inc. has announced the initiation of a Phase 3 trial for pegozafermin, the first FGF21 analog to enter Phase 3 development. The trial, called ENTRUST, will evaluate the efficacy, safety, and tolerability of pegozafermin in patients with severe hypertriglyceridemia (SHTG). The company believes that previous trials have shown a potentially favorable risk/benefit profile for pegozafermin, with robust reductions in triglycerides and broad metabolic improvements. The primary endpoint of the trial is the percent change from baseline in fasting triglycerides at Week 26 compared to placebo. Secondary endpoints include the assessment of liver fat and various cholesterol markers. 89bio is focused on developing therapies for liver and cardiometabolic diseases and is headquartered in San Francisco.
CustomersInvestment
growth-positive
Institutional investors are 89bio, Inc.'s (NASDAQ:ETNB) biggest bettors and were rewarded after last week's US$90m market cap gain
The article discusses the institutional ownership of 89bio, Inc., a pharmaceutical and biotech company. Institutions hold a 54% stake in the company, making them the largest shareholder group. The companys largest shareholder is RA Capital Management, L.P., with a 16% ownership. The top 15 shareholders own 51% of the company. The company recently hit a market cap of US$1.3b, benefiting institutional investors the most. The article suggests that the high institutional ownership indicates the companys credibility in the investment community.
Investment
Wall Street Analysts Predict a 57.05% Upside in 89BIO (ETNB): Here's What You Should Know
growth-positive
89bio Reports First Quarter 2023 Financial Results and Provides Corporate Update
89bio, Inc. reported positive topline results from the ENLIVEN Phase 2b trial of pegozafermin in NASH, demonstrating high statistical significance and supporting advancement to Phase 3. The company plans to discuss next steps with regulatory agencies in the second half of 2023. They also plan to initiate a Phase 3 trial for SHTG in the second quarter of 2023. 89bio completed an underwritten public offering, raising $316.2 million in gross proceeds, and has a cash balance of $480.9 million as of March 31, 2023. The company aims to develop innovative therapies for liver and cardio-metabolic diseases. They are focused on advancing their lead candidate, pegozafermin, for the treatment of NASH and SHTG.
InvestmentExpand
growth-positive
89bio to Participate in Upcoming Investor Conferences
89bio, Inc., a clinical-stage biopharmaceutical company, has announced that its management will participate in the BofA Securities 2023 Healthcare Conference and the 2023 RBC Capital Markets Global Healthcare Conference in May 2023. The company is focused on developing innovative therapies for the treatment of liver and cardio-metabolic diseases. Its lead candidate is pegozafermin, a potential treatment for non-alcoholic steatohepatitis (NASH) and severe hypertriglyceridemia (SHTG).
Management Changes
3 Biotech Buyout Targets to Watch
Wall Street Analysts See a 79.36% Upside in 89BIO (ETNB): Can the Stock Really Move This High?
Is 89BIO (ETNB) Outperforming Other Medical Stocks This Year?
Independent Director Michael Hayden Just Bought 41% More Shares In 89bio, Inc. (NASDAQ:ETNB)
89bio, Inc. Announces Upsized Pricing of $275 Million Public Offering of Common Stock
Why Shares of 89bio Soared This Week
89bio, Inc. Announces Proposed Underwritten Public Offering of Common Stock and Pre-Funded Warrants
89bio’s Phase 2b ENLIVEN Trial of Pegozafermin in Nonalcoholic Steatohepatitis (NASH) Achieved High Statistical Significance on Both Primary Histology Endpoints with Weekly (QW) and Every-Two-Week (Q2W) Dosing at 24 Weeks
growth-positive
Top 1% Biotech 89bio Scores 25% Gain As Battle In Liver Disease Heats Up
Small biotech company 89bio experienced a 25% gain in its stock price as it scored a win in the field of fatty liver disease. The stock price of ETNB surged above its 50-day moving average.
CustomersPartners
12 Best Biotech Stocks To Buy Under $20
Wall Street Analysts See an 80% Upside in 89BIO (ETNB): Can the Stock Really Move This High?
89bio Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Corporate Update
growth-positive
Teva spin-off 89bio raises $84m in Nasdaq secondary offering
Clinical-stage biopharmaceutical company 89bio has raised $83.8 million in a secondary offering on Nasdaq. The companys share price fell 1.46% on Nasdaq. 89bio is a spin-off of Teva Pharmaceutical Industries and is focused on the development and commercialization of therapies for liver and cardio-metabolic diseases. Their lead product candidate, BIO89-100, is in a Phase IIa trial for the treatment of nonalcoholic steatohepatitis (NASH). The funds from the public offering will be used to accelerate trials.
InvestmentPublic Trading
growth-negative
89bio Announces Closing of Enrollment in its Phase 1b/2a NASH Trial and Reports New Preclinical Data Confirming BIO89-100's Mechanism of Action Via Potent FGF Receptor Agonism BioSpace
89bio, Inc., a clinical-stage biopharmaceutical company, has closed enrollment in its Phase 1b/2a trial for nonalcoholic steatohepatitis (NASH) with 98% of patients enrolled. The company has also delayed the initiation of its severe hypertriglyceridemia (SHTG) trial due to the ongoing COVID-19 pandemic. Despite the challenging environment, the company expects topline data in the second half of 2020. The initiation of the Phase 2 trial of BIO89-100 in SHTG will be delayed until conditions improve. The company plans to follow the guidelines put forth by the U.S. Centers for Disease Control and Prevention, as well as national, state, and local governments.
CustomersManagement Changes
growth-positive
89bio Appoints Healthcare Industry Veteran Steven Altschuler, M.D., as Chairman of the Board of Directors
89bio, Inc. has appointed Steven Altschuler, M.D., as chairman of its board of directors. Dr. Altschuler brings 20 years of experience in growing healthcare organizations and has a background in the provider and biotechnology industries. His appointment is expected to contribute significantly to 89bios work in liver and cardio-metabolic diseases. 89bio is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for the treatment of liver and cardio-metabolic diseases. Their lead product candidate, BIO89-100, is being developed for the treatment of NASH.
Management Changes
growth-positive
Teva spin-off 89bio soars after $85m Nasdaq IPO
Israeli biopharmaceutical company 89bio Inc. has raised $85 million in an IPO on Nasdaq. The companys lead candidate is a treatment for NASH, a severe form of nonalcoholic fatty liver disease. The IPO resulted in a 25% surge in share price and a market cap of $241 million. 89bio is a spin-off of Teva Pharmaceutical Industries and has already paid Teva $6 million for the rights to its lead product candidate. The company plans to pay up to an additional $135 million and royalties if the product is successful. 89bios drug has passed a Phase I clinical trial and results from a trial on fatty liver patients are expected in the second half of 2020.
InvestmentAcquisition
growth-positive
Teva spin-off 89bio files for $70m Wall Street IPO
Israeli biopharmaceutical company 89bio Inc. has filed for an IPO to raise $70 million on Wall Street. The company is developing treatments for liver and cardio-metabolic diseases, with its lead candidate focusing on nonalcoholic steatohepatitis (NASH), a severe form of nonalcoholic fatty liver disease. 89bio is a spin-off of Teva Pharmaceutical Industries and has already paid Teva $6 million for the product candidate. The companys drug has successfully passed a Phase I clinical trial and results from a trial on fatty liver patients are expected in the second half of 2020. The IPO filing indicates positive growth for 89bio Inc.
Public Trading
growth-positive
89bio Announces Preclinical Data That Demonstrate Potential Utility of BIO89-100 for Treatment of NASH
89bio LTD, a clinical-stage biopharmaceutical company focused on NASH and other liver and metabolic disorders, announced that preclinical data of its drug BIO89-100 were featured in a poster presentation at The International Liver Congress™ 2019. The data showed positive effects on metabolic and liver parameters associated with NASH. The company is encouraged by these results and believes BIO89-100 has the potential to address the complex clinical condition of NASH patients. The drug is currently being evaluated in a clinical study in healthy volunteers. NASH affects more than 16 million adults in the United States and there are currently no approved treatments.
CustomersInvestment
growth-positive
OrbiMed leads $60m first round in NASH treatment co 89Bio
89Bio, a company focused on developing a treatment for fatty liver disease, has raised $60 million in a first round of funding. The funding round was led by OrbiMed Israel and joined by several other investors. The companys innovative molecule for the treatment of fatty liver disease came from Teva Pharmaceutical Industries. The fatty liver disease market represents a large potential market with no approved treatment. 89Bios drug candidate has shown promising results in preclinical studies. The company will be managed from the US but product development will be based in Israel.
Investment
N/A
OrbiMed launches NASH-focused 89Bio with $60M series A, Rohan Palekar as CEO
The article does not provide any specific information about Questex LLC.
