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Dec 31, 2023
89Bio Q4 2023 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2023, and provided corporate updates.
Key Takeaways
89bio reported a net loss of $40.2 million for the fourth quarter of 2023. The company's cash, cash equivalents, and marketable securities totaled $578.9 million as of December 31, 2023. The company is advancing its Phase 3 trials in NASH and SHTG.
Completed follow-on offering in the fourth quarter 2023 for $172.5 million in gross proceeds.
Cash, cash equivalents and marketable securities totaled $578.9 million as of December 31, 2023.
R&D expenses were $33.6 million for the three months ended December 31, 2023.
Net loss was $40.2 million for the three months ended December 31, 2023.
89Bio
89Bio
Forward Guidance
89bio plans to initiate the Phase 3 ENLIGHTEN NASH program for non-cirrhotic (F2-F3) and cirrhotic (F4) patients in the first and second quarters of 2024, respectively. Topline results from the ENTRUST Phase 3 trial in SHTG are expected in 2025.