89bio Posts Promising Pegozafermin Data For Severe Hypertriglyceridemia

89bio Inc ETNB announced topline results from the ENTRIGUE Phase 2 proof-of-concept study of pegozafermin for severe hypertriglyceridemia (SHTG). 

• Hypertriglyceridemia is characterized by high triglycerides (TG) levels, a type of fat, in the bloodstream.
• SHTG can lead to multiple serious conditions, including cardiovascular disease and acute pancreatitis.
• Treatment with pegozafermin resulted in clinically meaningful and significant reductions in TG from baseline across all doses (with a 63% reduction in the highest dosing group).
• Also See: 89bio's NASH Candidate Shows Improvement In Disease Severity, Cardiovascular Health.
• Additionally, results were consistent in patients not on background therapy or background therapy and across various subgroups.
• Data also showed statistically significant improvements in key cardiovascular risk markers, reductions in liver fat, and improvements in glycemic control markers.
• Pegozafermin was well tolerated with a favorable safety profile across doses consistent with prior studies. 
• In ENTRIGUE, the most commonly reported treatment-related adverse events were nausea, diarrhea, and injection site reactions, all of which were classified as mild or moderate. 
• Separately, 89bio has priced its underwritten public offering of 18.6 million shares and accompanying warrants to purchase up to 9.3 million shares at a combined price of $3.55 for gross proceeds of $94.5 million. The company will use the money to fund the development of pegozafermin and other general corporate purposes.
• Price Action: ETNB shares are up 2.82% at $3.65 during the premarket session on the last check Wednesday.