89Bio Inc ( (ETNB) ) has released its Q3 earnings. Here is a breakdown of the information 89Bio Inc presented to its investors.
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89Bio Inc. is a clinical-stage biopharmaceutical company specializing in developing therapies for liver and cardio-metabolic diseases, with a focus on innovative treatments such as pegozafermin for metabolic dysfunction-associated steatohepatitis and severe hypertriglyceridemia. The latest earnings report for the third quarter of 2024 highlights the company’s financial performance amidst its continued focus on clinical development. Despite an increase in operating expenses, primarily due to research and development costs, 89Bio maintains a robust cash position supported by marketable securities and recent financing activities. Key financial metrics indicate a net loss of $149.1 million for the quarter, driven by substantial investments in R&D, while cash and equivalents have decreased but remain substantial at $91.4 million. Looking ahead, 89Bio’s management remains committed to advancing its clinical programs and leveraging its existing funds to sustain operations for the foreseeable future.
