89bio (ETNB) said late Monday it launched a public offering of $250 million in common shares or, in lieu of shares, pre-funded warrants to purchase such shares.
The company expects to grant a 30-day overallotment option to the underwriters to acquire up to $37.5 million of additional shares.
89bio plans to use the net proceeds to fund ongoing clinical activities and development of pegozafermin, among others.
The company's shares were down 2% in after-hours activity.
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