FMP
89bio Shares Up 10% Since Q4 Earnings Announcement
Mar 15, 2023 9:39 AM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
89bio, Inc. (NASDAQ:ETNB) shares rose more than 10% since the company’s reported Q4 results on Friday. R&D came in at $19.1 million and SG&A was $6.3 million. Cash and equivalents ended the quarter at $188.2 million. The company reiterated the March timeline for key ph.IIb pegoza NASH data.
Analysts at RBC Capital said they expect similar data to AKRO's FGF21 analog and believe this will lead to a meaningful stock upside. According to the analysts, pivotal studies in SHTG, an underappreciated opportunity with a low-risk path, remain on track and provide a high valuation floor. The analysts continue to see an attractive buying opportunity into the upcoming data.
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