Latest news with #89bio
Yahoo
4 days ago
- Business
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89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SAN FRANCISCO, June 06, 2025 (GLOBE NEWSWIRE) -- 89bio, Inc. (the 'Company' or '89bio') (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases, today announced that the Compensation Committee of the Company's Board of Directors approved the grant of non-qualified stock options to purchase an aggregate of 61,100 shares of the Company's common stock to three new employees (the 'Inducement Grants') on June 3, 2025 (the 'Grant Date'). The Inducement Grants have been granted pursuant to the Company's 2023 Inducement Plan (the 'Plan'). The Inducement Grants were granted as an inducement material to these individuals entering into employment with 89bio in accordance with Nasdaq Listing Rule 5635(c)(4). The Inducement Grants have an exercise price per share that is equal to the closing price of 89bio's common stock on the Grant Date. The Inducement Grants will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employee's start date, and thereafter the remainder of the shares vest in 12 equal quarterly installments, subject to each employee's continued employment with 89bio through the applicable vesting dates. About 89bio 89bio is a clinical-stage biopharmaceutical company dedicated to the development of best-in-class therapies for patients with liver and cardiometabolic diseases who lack optimal treatment options. The company is focused on rapidly advancing its lead candidate, pegozafermin, through Phase 3 clinical development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). Pegozafermin is a specifically engineered, potentially best-in-class fibroblast growth factor 21 (FGF21) analog with unique glycoPEGylated technology that optimizes biological activity through an extended half-life. The company is headquartered in San Francisco. For more information, visit or follow the company on LinkedIn. Investor Contact:Annie Chang89bio, PJ KelleherLifeSci Advisors, LLC+1-617-430-7579pkelleher@ Media Contact:Sheryl SeapyReal Chemistrysseapy@
Yahoo
14-05-2025
- Business
- Yahoo
GSK to spend $2bn on Phase III liver disease drug acquisition
Just a day after dropping a $625m cancer asset, GSK has inked a deal worth a potential $2bn to acquire Boston Pharmaceuticals' efimosfermin, a drug ready to hit Phase III trials for the treatment of liver disease. The UK big pharma company will pay $1.2bn upfront for Boston's subsidiary BP Asset IX, which will give the company access to efimosfermin. GSK has also agreed to pay additional milestone payments totalling $800m, along with tiered royalties to Novartis, which originally owned the therapy. Shares in London-listed GSK opened relatively unchanged following the news, though climbed into the mid-morning to a share price high of £1,382.00 (correct at 11am GMT+1). The company has a market cap of £56.98bn. Efimosfermin is being developed to treat and prevent the progression of steatotic liver disease (SLD), a build-up of fat in liver cells. SLD is a broad disease term used to encompass various causes of fat accumulation in the liver. If untreated, fat build-up in cells can progress to more severe stages that include fibrosis and cirrhosis. GSK's new asset is taken once monthly via a subcutaneous injection. Efimosfermin is a long-acting variant of fibroblast growth factor 21 (FGF21) that is designed to regulate key metabolic pathways to decrease both liver fat and inflammation, and reverse liver fibrosis. The therapy has already performed well in a Phase II trial (NCT06920043) in patients with moderate-to-advanced (F2 or F3) metabolic dysfunction-associated steatohepatitis (MASH), a form of SLD. Data, posted by Boston in November 2024, demonstrated that efimosfermin has 'significant therapeutic potential' in liver disease. Of the 31 patients receiving the injection, 14 had a one-stage or greater improvement in fibrosis without MASH progression, compared to just seven out of 34 in the placebo group. Whilst there are other FGF21 drugs in development – such as Akero Therapeutics efruxifermin and 89bio's pegozafermin – Boston designed efimosfermin with an extended half-life to allow monthly dosing while Akero and 89bio's assets require weekly dosing, GSK's drug could be set for an early market advantage. GSK has also earmarked efimosfermin's potential to combine with its in-house siRNA therapeutic GSK'990 to address more advanced stages of SLD. According to GlobalData estimates, the MASH market is anticipated to reach sales of $25.7bn in 2032 across the seven major markets (7MM: US, France, Germany, Italy, Spain, the UK, and Japan). The market was revived in March 2024 when Madrigal Pharmaceuticals' Rezdiffra (resmetirom) won the first US Food and Drug Administration (FDA) approval for a MASH treatment. GlobalData noted an increase in drug partnership deal values in the MASH arena in 2024. Eli Lilly continued this trend into this year when it agreed to pay $630m for a Phase I RNA-based candidate from South Korea-based biotech OliX Pharmaceuticals in February 2025. GSK said the purchase of Boston's drug aligns with its R&D focus on 'science related to the immune system'. The deal agreement comes just a day after the drugmaker dropped an anti-TIGIT antibody it previously attained the rights for in a $625m upfront deal. GSK's chief scientific officer Tony Wood said: 'Efimosfermin will significantly expand our hepatology pipeline and provide us the opportunity to develop a new potential best-in-class medicine with its first launch expected in 2029. It complements GSK'990, also in development for alcohol-related liver disease and MASH, offering GSK options to develop both monotherapy and potential combinations to improve patient outcomes.' "GSK to spend $2bn on Phase III liver disease drug acquisition" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Why 89bio, Inc. (ETNB) Is Among the Best Low Priced Biotech Stocks to Buy Now
We recently published a list of . In this article, we are going to take a look at where 89bio, Inc. (NASDAQ:ETNB) stands against other best low priced biotech stocks to buy now. On May 8, Michael Yee, Senior Biotech Analyst at Jefferies, appeared on CNBC to discuss how tariffs and policy risks are pressuring the biotech industry, while simultaneously iterating that low valuations in the sector may present buying opportunities once the uncertainty clears. Talking about the broader impact of tariffs on the biotech sector, he said that the estimated tariff rate would be around 50%, while the negative EPS impact would be around -4-5%. According to Yee, the sector is facing several challenges that have caused significant pressure and anxiety among biotech investors. One of them is definitely sector-specific tariffs. The 50% estimation is a manageable impact for many of the biotech companies, but there are also other challenges being floated. Another factor is the most favored nations that could drop drug prices by as much as 40% to 50%, making it a related impact. Assuming all these impacts are going into place, there are definitely uncertain downside risks to the model. However, the takeaway is that many of these stocks are down more than 20-30% and, in fact, are trading at a decade-low P/E multiple. Therefore, while these uncertainties may be out there over the next few weeks or months, the stocks are expected to move higher after that. If we look back at some other stocks with tariffs, many are obviously higher off the bottoms. They have thus fallen to an attractive valuation, which is why there might be an opportunity to buy them. READ ALSO: Recession Resistant Investing: 10 Best Grocery Stocks To Buy Now and 11 Most Promising Future Stocks According to Hedge Funds. Shedding light on the most favored nation policy, Yee said it is not new. It is also not a new concept that the US, on average, pays around 40% to 50% more for drugs as compared to the basket of other, say, five to ten major developed nations. The country also gets its drugs faster, and is the home of innovation. Many of the pharmaceutical company executives over the past few weeks pointed out that most of those countries are also facing downside issues because of R&D investments, getting the drugs years later, and obviously, the countries aren't benefiting from access to any of these drugs. However, the United States government does negotiate 15-20 drugs per year and will be doing that for the next decade. We sifted through stock screeners, financial media reports, and ETFs to compile a list of 50 low-priced biotech stocks and then chose the top 10 with the highest number of hedge fund holders as of Q4 2024. We sourced the hedge fund sentiment data from Insider Monkey's database. The list is ordered in ascending order of hedge fund sentiment. Note: The data was recorded on May 9. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 363.5% since May 2014, beating its benchmark by 208 percentage points (). A scientist in a lab coat researching data and researching new therapies. Stock Price: $7.70 Number of Hedge Fund Holders: 35 89bio, Inc. (NASDAQ:ETNB) is a clinical-stage biopharmaceutical company that develops and commercializes innovative therapies to treat liver and cardiometabolic diseases. The company's product pipeline includes pegozafermin, FGF21, NASH, and SHTG. On April 29, Leerink Partners analyst Thomas Smith reiterated his bullish stance on the company, giving a Buy rating due to its strong position in the biopharma sector. 89bio, Inc. (NASDAQ:ETNB) reaffirmed its clinical data timelines for pegozafermin, its lead asset for NASH and severe hypertriglyceridemia. It is undergoing robust operational execution, with phase 3 trials proceeding on timeline. The analyst further supported pegozafermin's potential as a best-in-class treatment with a favorable safety profile and competitive efficacy. It also has an optimistic market potential as interest in the FGF21 mechanism, which is targeted by the treatment, is growing among patients and clinicians. Smith has a $37 price target for ETNB stock. Overall, ETNB ranks 9th on our list of the best low priced biotech stocks to buy now. While we acknowledge the potential for ETNB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than ETNB but trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Why 89bio, Inc. (ETNB) Is Among the Best Low Priced Biotech Stocks to Buy Now
We recently published a list of . In this article, we are going to take a look at where 89bio, Inc. (NASDAQ:ETNB) stands against other best low priced biotech stocks to buy now. On May 8, Michael Yee, Senior Biotech Analyst at Jefferies, appeared on CNBC to discuss how tariffs and policy risks are pressuring the biotech industry, while simultaneously iterating that low valuations in the sector may present buying opportunities once the uncertainty clears. Talking about the broader impact of tariffs on the biotech sector, he said that the estimated tariff rate would be around 50%, while the negative EPS impact would be around -4-5%. According to Yee, the sector is facing several challenges that have caused significant pressure and anxiety among biotech investors. One of them is definitely sector-specific tariffs. The 50% estimation is a manageable impact for many of the biotech companies, but there are also other challenges being floated. Another factor is the most favored nations that could drop drug prices by as much as 40% to 50%, making it a related impact. Assuming all these impacts are going into place, there are definitely uncertain downside risks to the model. However, the takeaway is that many of these stocks are down more than 20-30% and, in fact, are trading at a decade-low P/E multiple. Therefore, while these uncertainties may be out there over the next few weeks or months, the stocks are expected to move higher after that. If we look back at some other stocks with tariffs, many are obviously higher off the bottoms. They have thus fallen to an attractive valuation, which is why there might be an opportunity to buy them. READ ALSO: Recession Resistant Investing: 10 Best Grocery Stocks To Buy Now and 11 Most Promising Future Stocks According to Hedge Funds. Shedding light on the most favored nation policy, Yee said it is not new. It is also not a new concept that the US, on average, pays around 40% to 50% more for drugs as compared to the basket of other, say, five to ten major developed nations. The country also gets its drugs faster, and is the home of innovation. Many of the pharmaceutical company executives over the past few weeks pointed out that most of those countries are also facing downside issues because of R&D investments, getting the drugs years later, and obviously, the countries aren't benefiting from access to any of these drugs. However, the United States government does negotiate 15-20 drugs per year and will be doing that for the next decade. We sifted through stock screeners, financial media reports, and ETFs to compile a list of 50 low-priced biotech stocks and then chose the top 10 with the highest number of hedge fund holders as of Q4 2024. We sourced the hedge fund sentiment data from Insider Monkey's database. The list is ordered in ascending order of hedge fund sentiment. Note: The data was recorded on May 9. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 363.5% since May 2014, beating its benchmark by 208 percentage points (). A scientist in a lab coat researching data and researching new therapies. Stock Price: $7.70 Number of Hedge Fund Holders: 35 89bio, Inc. (NASDAQ:ETNB) is a clinical-stage biopharmaceutical company that develops and commercializes innovative therapies to treat liver and cardiometabolic diseases. The company's product pipeline includes pegozafermin, FGF21, NASH, and SHTG. On April 29, Leerink Partners analyst Thomas Smith reiterated his bullish stance on the company, giving a Buy rating due to its strong position in the biopharma sector. 89bio, Inc. (NASDAQ:ETNB) reaffirmed its clinical data timelines for pegozafermin, its lead asset for NASH and severe hypertriglyceridemia. It is undergoing robust operational execution, with phase 3 trials proceeding on timeline. The analyst further supported pegozafermin's potential as a best-in-class treatment with a favorable safety profile and competitive efficacy. It also has an optimistic market potential as interest in the FGF21 mechanism, which is targeted by the treatment, is growing among patients and clinicians. Smith has a $37 price target for ETNB stock. Overall, ETNB ranks 9th on our list of the best low priced biotech stocks to buy now. While we acknowledge the potential for ETNB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than ETNB but trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
