89bio announced that it has commenced an underwritten public offering of $200M of shares of its common stock or, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase shares of its common stock. 89bio intends to use the net proceeds from this offering to fund ongoing clinical activities and development of pegozafermin, manufacturing scale-up and other general corporate purposes, including working capital and operating expenses. BofA Securities, SVB Securities and Evercore ISI are acting as book-running managers for the offering.
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