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Mar 31, 2020
89Bio Q1 2020 Earnings Report
89bio reported financial results for the first quarter of 2020 and provided a corporate update.
Key Takeaways
89bio reported a net loss of $10.5 million for the first quarter of 2020. The company's cash and cash equivalents were $85.5 million as of March 31, 2020. Topline results from the Phase 1b/2a NASH trial are expected in the second half of 2020, and the FDA cleared the IND application for SHTG.
Closed enrollment in Phase 1b/2a trial of BIO89-100 in NASH, with topline results expected in the second half of 2020.
FDA cleared the IND Application for BIO89-100 in patients with SHTG.
Released new preclinical data confirming BIO89-100’s mechanism of action via potent FGF receptor agonism.
Cash and cash equivalents totaled $85.5 million as of March 31, 2020.