89bio, Inc. Announces Upsized Pricing of $275 Million Public Offering of Common Stock

SAN FRANCISCO, March 24, 2023 (GLOBE NEWSWIRE) — 89bio, Inc. (“89bio”) (Nasdaq:ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases, today announced the pricing of its previously announced underwritten public offering of 16,923,077 shares of its common stock at a public offering price per share of $16.25. In addition, 89bio has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 2,538,461 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The gross proceeds of the offering to 89bio, before deducting the underwriting discounts and commissions and other offering expenses payable by 89bio, are expected to be approximately $275 million. The offering is expected to close on or about March 28, 2023, subject to the satisfaction of customary closing conditions.

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