Up­dat­ed: 89bio prices $150M pub­lic of­fer­ing for PhI­II de­vel­op­ment of NASH drug

89bio an­nounced an up­sized $150 mil­lion pub­lic of­fer­ing of its com­mon stock on Thurs­day, just a few days af­ter the com­pa­ny had a meet­ing with the FDA sup­port­ing a Phase III tri­al of its FGF21 ana­log in non­al­co­holic steato­hep­ati­tis.

The com­pa­ny of­fered 15.1 mil­lion shares of its stock at $9.25 each and an­oth­er 2.4 mil­lion shares to the un­der­writ­ers at the pub­lic of­fer­ing price.

The clin­i­cal stage com­pa­ny said Wednes­day that the funds from the of­fer­ing will sup­port de­vel­op­ment of pe­gozafer­min, along with scal­ing up man­u­fac­tur­ing and “gen­er­al cor­po­rate pur­pos­es.” 89bio {ETNB} is al­so of­fer­ing the un­der­writ­ers an op­tion to pur­chase up to an ad­di­tion­al $18.75 mil­lion of shares of its stock.

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