89bio, Inc.

89bio, Inc. (ETNB) priced its initial public offering on Nov 12, 2019 at $16.00 per share, within its $15.00–$17.00 range, raising $84.9M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $207.9M. BofA Securities was lead-left underwriter, joined by Leerink Partners, RBC Capital Markets and Oppenheimer. Gibson Dunn advised the company and Cooley advised the underwriters.

89bio, Inc. is a clinical-stage biopharmaceutical company developing therapies for liver and cardio-metabolic diseases. Its lead candidate, BIO89-100, is a glycoPEGylated analog of fibroblast growth factor 21 being developed for nonalcoholic steatohepatitis (NASH), for which no products are currently approved.

Status

IPO

Ticker

ETNB

Exchange

Nasdaq Global Market

Priced

Nov 12, 2019

IPO price

$16.00

Price range

$15.00–$17.00

Raised

$84.9M

Market cap at IPO price

$207.9M

First filed

Oct 11, 2019

Underwriters

BofA Securities, Leerink Partners, RBC Capital Markets and Oppenheimer

Company counsel

Gibson Dunn

Underwriters' counsel

Cooley

Sector

Biotech & pharma

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.