05:13 AM EST, 11/13/2024 (MT Newswires) -- 89bio (ETNB) said late Tuesday it priced its public offering of 11.5 million shares at $8.50 per share, and pre-funded warrants to purchase up to about 3.3 million shares at $8.499 per warrant for gross proceeds of about $125 million.

Underwriters have been granted a 30-day option to purchase up to about 2.2 million shares.

The offering, which was upsized from the initial proposed $100 million offering, is set to close Thursday.

Shares of the company retreated more than 2% in recent premarket activity.

Price: 8.85, Change: -0.20, Percent Change: -2.21