NASDAQ$ETNB
89Bio Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
89Bio reported financial results for Q1 2022 and provided a corporate update.
89bio reported a net loss of $25.6 million for the first quarter of 2022. The company's cash, cash equivalents, and short-term investments totaled $126.1 million as of March 31, 2022, which is expected to fund operations into the second half of 2023.
- ENTRIGUE Phase 2 trial of pegozafermin in severe hypertriglyceridemia (SHTG) patients remains on track with topline data expected in the second quarter of 2022.
- ENLIVEN Phase 2b NASH trial enrollment completion expected in the third quarter of 2022 followed by topline data in the first half of 2023.
- R&D expenses were $19.8 million for the three months ended March 31, 2022, compared to $10.1 million for the three months ended March 31, 2021.
- As of March 31, 2022, 89bio had cash, cash equivalents, and short-term investments of $126.1 million.
Headline financials
Revenue & EPS history
89Bio · Revenue · Quarterly
$0
Forward guidance
89bio anticipates several milestones, including topline data from the ENTRIGUE trial in SHTG and completion of enrollment in the ENLIVEN trial in NASH.
Tailwinds
- Topline data for the Phase 2 ENTRIGUE trial of pegozafermin in SHTG patients expected in the second quarter of 2022.
- Positive results from ENTRIGUE would support moving into a Phase 3 program in 2023 following regulatory discussions.
- Expect to complete enrollment in the third quarter of 2022 with ~200 patients in the ENLIVEN Phase 2b trial.
- Topline data from ENLIVEN trial expected in the first half of 2023.
- Sufficient cash to fund operations into the second half of 2023.
Headwinds
- The timing and outcome of the Phase 2b ENLIVEN trial in NASH and Phase 2 ENTRIGUE trial in SHTG are uncertain.
- Positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies.
- 89bio’s substantial dependence on the success of its lead product candidate poses a risk.
- Competition from competing products could adversely affect 89bio’s prospects.
- The effect of the COVID-19 pandemic on 89bio’s clinical trials and business operations remains a concern.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports
-0.1%
Avg return
Earnings day
-4.6%
Avg return
5 days after
-2.8%
Avg return
30 days after
54%
13 / 24 earnings
Positive
+14.8%
Q4 2019
Best reaction
-19.4%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | — | — | — | |
| Q2 2025 | +1.7% | +1.3% | -1.7% | |
| Q1 2025 | -3.7% | -4.1% | +18.6% | |
| Q4 2024 | -1.0% | -7.1% | -3.7% | |
| Q3 2024 | +2.8% | -10.9% | -20.6% | |
| Q2 2024 | -10.9% | -11.8% | -0.9% | |
| Q1 2024 | -3.5% | +0.8% | -10.2% | |
| Q4 2023 | +7.3% | -0.2% | -1.3% | |
| Q3 2023 | -11.8% | — | — | |
| Q2 2023 | +5.3% | — | — | |
| Q1 2023 | +1.3% | — | — | |
| Q4 2022 | -1.1% | — | — | |
| Q3 2022 | +14.2% | — | — | |
| Q2 2022 | +3.6% | — | — | |
| Q1 2022 | +14.6% | — | — | |
| Q4 2021 | +5.1% | — | — | |
| Q3 2021 | +1.4% | — | — | |
| Q2 2021 | +1.1% | — | — | |
| Q1 2021 | -19.4% | — | — | |
| Q4 2020 | -4.7% | — | — | |
| Q3 2020 | -0.8% | — | — | |
| Q2 2020 | +1.6% | — | — | |
| Q1 2020 | -6.2% | — | — | |
| Q4 2019 | +14.8% | — | — | |
| Q3 2019 | -13.5% | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — |
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