89Bio Q3 2024 Earnings Report

89Bio reported financial results for Q3 2024 and provided corporate updates.

Key Takeaways

89bio reported a net loss of $149.1 million for the third quarter of 2024, driven by increased R&D expenses related to Phase 3 clinical trials and milestone payments. The company's cash, cash equivalents, and marketable securities totaled $423.8 million as of September 30, 2024.

Phase 3 ENLIGHTEN program continues to enroll patients across both trials.

Topline data from the Phase 3 ENTRUST trial are expected in 2025.

Charles McWherter, Ph.D. was appointed to the Board of Directors.

Francis Sarena and Teresa Perney, Ph.D. were appointed as Chief Operating Officer and Chief Regulatory and Quality Officer, respectively.

Previous year: -$0.45

+208.9%

Gross Profit