NASDAQ$ETNB
89Bio Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported financial results for the second quarter ended June 30, 2024.
89bio reported a net loss of $48.0 million for the second quarter ended June 30, 2024. The increase in net loss was primarily attributable to increased R&D expenses to advance the company’s Phase 3 clinical trials, increased G&A expenses associated with higher headcount, and expenses to support the Company’s expanded operations.
- Initiated two pivotal Phase 3 trials addressing non-cirrhotic MASH and MASH with compensated cirrhosis.
- Continued to take important steps forward that will strategically enhance preparedness for potential commercialization of pegozafermin including commercial manufacturing readiness.
- Enrollment is ongoing in ENTRUST, the Phase 3 trial evaluating the efficacy, safety and tolerability of pegozafermin in patients with SHTG.
- Dr. Charles McWherter joined the Board of Directors, effective July 30, 2024.
Headline financials
Revenue & EPS history
89Bio · Revenue · Quarterly
$0
Forward guidance
The company is focused on advancing its Phase 3 clinical trials for pegozafermin in MASH and SHTG, and preparing for potential commercialization.
Tailwinds
- Advancing Phase 3 trials for pegozafermin in MASH and SHTG.
- Preparing for potential commercialization of pegozafermin.
- Pegozafermin has the potential for accelerated approval using histology in both trials.
- Phase 3 ENTRUST trial for patients with severe hypertriglyceridemia (SHTG) continues to enroll patients.
- Topline data from the ENTRUST trial is expected in 2025.
Headwinds
- The company reported a net loss of $48.0 million for the quarter.
- Increased R&D expenses are impacting profitability.
- Increased G&A expenses are also impacting profitability.
- Clinical trial outcomes are uncertain.
- Competition from competing products.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports · overlaid with Q2 2024
-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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