89Bio Inc ( (ETNB) ) has released its Q4 earnings. Here is a breakdown of the information 89Bio Inc presented to its investors.
89bio Inc., a clinical-stage biopharmaceutical company, is focused on developing therapies for liver and cardiometabolic diseases, with a lead candidate in Phase 3 trials for metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG).
In its latest earnings report, 89bio highlighted significant progress in its clinical trials, including the advancement of Phase 3 trials for MASH and SHTG, and financial updates showing a strong cash position bolstered by recent equity offerings.
Key financial metrics revealed a substantial increase in research and development expenses, driven by contract manufacturing costs and clinical trial advancements, leading to a net loss of $367.1 million for the year. Despite the losses, the company maintains a robust cash reserve of $440 million as of the end of 2024, supported by successful follow-on equity offerings.
Looking ahead, 89bio anticipates pivotal data from its ongoing trials in the coming years, with topline results expected in 2026 and 2027. The company remains focused on executing its clinical development plans and regulatory activities, aiming for future marketing authorization filings.
With its strategic focus and ongoing trials, 89bio is positioned to potentially deliver impactful therapies for patients with limited treatment options, pending positive clinical outcomes.