89bio announces closing of its upsized $94.5 million public offering of common stock, pre-funded warrants and warrants

San francisco, july 05, 2022 (globe newswire) -- 89bio, inc. (“89bio”) (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, today announced the closing of its upsized underwritten public offering of 18,675,466 shares of its common stock and accompanying warrants to purchase up to 9,337,733 shares of common stock at a combined public offering price of $3.55 and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to 7,944,252 shares of its common stock and accompanying warrants to purchase up to 3,972,126 shares of common stock at a combined public offering price of $3.549. the pre-funded warrants have an exercise price of $0.001 per share, and are exercisable immediately. the warrants have an exercise price of $5.325 per share, are exercisable immediately, and will expire two years following the date of issuance.
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