89bio Announces Closing of Upsized Public Offering of Common Stock and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares

SAN FRANCISCO, July 13, 2020 (GLOBE NEWSWIRE) -- 89bio, Inc. (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases, announced the closing of its upsized underwritten public offering of 3,047,040 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase up to 397,440 additional shares of common stock, at a public offering price of $27.50 per share. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by 89bio, were approximately $83.8 million. All of the shares were offered by 89bio.

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