RE:Unbelievable It's believable, they went public last year and I believe Ed Nash at Cannacord was a big backer as underwriter.
maybe Leerink was on the deal too. Bit they have a few large underwriters that publish on them.
Their drug is a Fibroblast growth factor one (FGF21), and they've done pretty well in
Phase 2 trials. Akero is also an FGF21 approach and they've had great fat burner numbers.
as we know, FGF21 has also had a few safety issues to deal with. But the approach seems to:be better understood
by the market and accepted as a valid front runner approach. The world still doeant really know about GHRH for NASH.
scarlet1967 wrote:
This phase2b NASH company with a preclinical program for Severe Hypertriglyceridemia has a market cap at US over $370M. Couple days ago Leerink partners started covering the company with a buy rating with PT $62. Current SP about $19. As per financial they have $171 millions burn rate about $50 to $60 millions annually. No revenues!
https://www.google.com/url?rct=j&sa=t&url=https://www.analystratings.com/articles/leerink-partners-initiates-a-buy-rating-on-89bio-etnb/&ct=ga&cd=CAEYASoSNDc3NTA0NDExNTA3NDMwNTYzMhllMTJiNzk0YTA1MDAxYjJjOmNhOmVuOlVT&usg=AFQjCNHbSCll7IXXGGK5l1187Tr2HuzSmA
“As of June 30, 2021, 89bio had cash, cash equivalents, and short-term investments of $171.0 million. R&D expenses were $15.6 million and $25.8 million for the three and six months ended June 30, 2021, respectively, compared to $8.4 million and $16.2 million for the comparable periods in 2020. G&A expenses were $4.9 million and $9.5 million for the three and six months ended June 30, 2021, respectively, compared to $3.2 million and $6.2 million for the comparable periods in 2020. 89bio reported a net loss of $20.7 million and $35.5 million for the three and six months ended June 30, 2021, respectively, compared to a net loss of $11.8 million and $22.3 million for the comparable periods in 2020.”