89bio reports Q4 EPS (50c), consensus (49c)

As of December 31, 2023, 89bio had cash, cash equivalents and marketable securities totaling $578.9M, as compared to $188.2M as of December 31, 2022. “In 2023, we advanced our late-stage clinical development programs and demonstrated the anti-fibrotic and metabolic benefits of pegozafermin, aligned our Phase 3 NASH program with regulatory agencies in the United States and Europe, initiated our Phase 3 trial for SHTG, and strengthened our financial position,” said Rohan Palekar, Chief Executive Officer of 89bio. “We are highly encouraged by the Phase 2b ENLIVEN data and the long-term efficacy and tolerability data, which demonstrated positive, sustained benefits over a 48-week period, which together, positions pegozafermin as a potential best-in-class FGF21. As we continue to pursue a new therapeutic option and standard of care for patients through the promise of pegozafermin, our team is focused on the execution of our planned Phase 3 trials in NASH and the ongoing Phase 3 trial in SHTG.”