Private company

89bio, Inc.

Last updated Oct 19, 2026.

Overview

IndustryPharmaceutical Preparations¹
HeadquartersSan Francisco, California¹
Incorporated inDE²
Business address655 Montgomery Street, Suite 1500, San Francisco, Ca 94111²
Filer categoryLarge accelerated filer²

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We are a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases. Our lead product candidate, pegozafermin, a specifically engineered glycoPEGylated analog of fibroblast growth factor 21 (“FGF21”), is currently being developed for the treatment of metabolic dysfunction-associated steatohepatitis (“MASH”), previously known as nonalcoholic steatohepatitis, and for the treatment of severe hypertriglyceridemia (“SHTG”).³ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income⁴⁵⁶⁷⁸-$384.7M in 2024+2437% since 2018

Net income⁴⁵⁶⁷⁸-$367.1M in 2024+2169% since 2018

Fiscal year	2018	2019	2020	2021	2022	2023	2024
Research and development	$13.7M⁴	$21.3M⁵	$36.2M⁶	$70.3M⁷	$80.8M⁸	$122.2M⁸	$345.0M⁸
Operating expenses				$89.7M⁷	$102.2M⁸	$151.2M⁸	$384.7M⁸
Operating income	-$15.2M⁴	-$26.6M⁵	-$49.4M⁶	-$89.7M⁷	-$102.2M⁸	-$151.2M⁸	-$384.7M⁸
Interest				$674.0K⁷	$1.9M⁸	$4.8M⁸	$5.3M⁸
Income before tax				-$90.3M⁷	-$102.0M⁸	-$138.3M⁸	-$366.4M⁸
Income tax	$28.0K⁴	$218.0K⁵	-$59.0K⁶	-$147.0K⁷	$19.0K⁸	$3.9M⁸	$692.0K⁸
Net income	-$16.2M⁴	-$57.4M⁵	-$49.5M⁶	-$90.1M⁷	-$102.0M⁸	-$142.2M⁸	-$367.1M⁸
Earnings per share				-$4.48⁷	-$2.93⁸	-$2.00⁸	-$3.51⁸
Earnings per share (diluted)				-$4.48⁷	-$2.93⁸	-$2.00⁸	-$3.51⁸
Shares (weighted, basic)				20.1M shares⁷	34.8M shares⁸	71.2M shares⁸	104.7M shares⁸
Shares (weighted, diluted)				20.1M shares⁷	34.8M shares⁸	71.2M shares⁸	104.7M shares⁸

Total assets⁴⁵⁶¹¹⁷⁸$478.7M in 2024+4110% since 2018

Total liabilities⁶¹¹⁷⁸$77.9M in 2024+860% since 2020

Shareholders’ equity⁵⁶⁷⁸$400.8M in 2024

Cash⁴⁵⁶⁷⁸$126.1M in 2024+1022% since 2018

Long-term debt¹¹⁷⁸$35.7M in 2024+111% since 2021

Fiscal year	2018	2019	2020	2021	2022	2023	2024	2025
Cash	$11.2M⁴	$93.3M⁵	$98.2M⁶	$52.4M⁷	$55.3M⁷	$316.2M⁸	$126.1M⁸
Current assets	$11.3M⁴	$95.3M⁵	$210.2M⁶	$162.0M¹¹	$196.1M⁷	$593.5M⁸	$476.4M⁸
Property, plant and equipment				$150.0K¹¹	$92.0K⁷	$46.0K⁸	$23.0K⁸
Total assets	$11.4M⁴	$95.6M⁵	$211.1M⁶	$162.4M¹¹	$196.8M⁷	$596.3M⁸	$478.7M⁸
Accounts payable				$6.8M¹¹	$12.5M⁷	$8.6M⁸	$15.4M⁸
Short-term debt				$2.5M⁶		$0⁷	$0⁸
Current liabilities	$4.4M⁴	$5.6M⁵	$8.1M⁶	$19.5M¹¹	$24.6M⁷	$29.6M⁸	$36.1M⁸
Long-term debt				$16.9M¹¹	$20.2M⁷	$24.8M⁸	$35.7M⁸
Total liabilities			$8.1M⁶	$36.5M¹¹	$45.0M⁷	$60.0M⁸	$77.9M⁸
Retained earnings				-$213.2M¹¹	-$315.2M⁷	-$457.4M⁸	-$824.5M⁸
Shareholders’ equity	-$16.1M⁵	$89.9M⁶	$203.0M⁷	$126.0M⁸	$151.8M⁸	$536.3M⁸	$400.8M⁸
Shares outstanding	611.2K shares⁴	13.8M shares⁵	19.9M shares⁶	20.3M shares¹¹	50.6M shares⁷	93.3M shares⁸	119.8M shares⁸	146.0M shares⁸

Cash from operations⁴⁵⁶⁷⁸-$367.8M in 2024+2850% since 2018

Capital spending⁴⁵⁶⁷⁸$15.0K in 2024−62% since 2018

Free cash flow⁴⁵⁶⁷⁸-$367.8M in 2024+2841% since 2018

Fiscal year	2018	2019	2020	2021	2022	2023	2024
Cash from operations	-$12.5M⁴	-$25.5M⁵	-$46.2M⁶	-$76.8M⁷	-$81.1M⁸	-$129.2M⁸	-$367.8M⁸
Stock-based compensation				$8.7M⁷	$10.4M⁸	$16.1M⁸	$20.6M⁸
Capital spending	$39.0K⁴	$139.0K⁵	$126.0K⁶	$63.0K⁷	$7.0K⁸	$4.0K⁸	$15.0K⁸
Free cash flow	-$12.5M	-$25.6M	-$46.4M	-$76.8M	-$81.1M	-$129.2M	-$367.8M
Cash from investing				$7.2M⁷	-$33.9M⁸	-$123.0M⁸	-$40.9M⁸
Cash from financing				$23.9M⁷	$117.8M⁸	$513.1M⁸	$218.6M⁸

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Leadership

Who has led 89bio, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Rohan Palekar2019–now

Chief financial officer

Ryan Martins2019–now

Chief operating officer

20202025

Chief executive officerRohan Palekar Nov 8, 2019 to now¹²
Chief financial officerRyan Martins Nov 8, 2019 to now¹³
Chief operating officerFrancis Willard Sarena Aug 7, 2024 to now¹⁴
Chief operating officerRam Waisbourd Mar 16, 2020 to Nov 18, 2020¹⁵

Board members and other officers (17)

Chief Medical OfficerHarry H. Mansbach Nov 8, 2019 to now¹⁶
OfficerQuoc Le-Nguyen Nov 8, 2019 to now¹⁷
OfficerRam Waisbourd Nov 8, 2019 to Feb 22, 2022¹⁸
Board memberMartin Babler Apr 23, 2024 to now¹⁹
Board memberCharles McWherter Aug 7, 2024 to now²⁰
Board memberEdward Morrow Atkinson Iii. Mar 1, 2022 to now²¹
Board memberKathleen Laporte Nov 3, 2021 to now²²
Board memberSteven Altschuler Mar 25, 2020 to now²³
Board memberLota S. Zoth Jun 4, 2020 to now²⁴
Board memberAnat Naschitz Nov 8, 2019 to Apr 19, 2021²⁵
Board memberDerek Dirocco Nov 8, 2019 to now²⁶
Board memberGregory Grunberg Nov 8, 2019 to Feb 13, 2023²⁷
Board memberPeter Kolchinsky Nov 8, 2019 to now²⁸
Board memberRajeev M. Shah Nov 8, 2019 to now²⁸
Board memberRohan Palekar Nov 8, 2019 to now¹²
Board memberTomer Kariv Nov 8, 2019 to Nov 13, 2019²⁹
Board memberIsrael Gp L.p. Orbimed Ii. Nov 13, 2019 to Sep 23, 2020³⁰

Timeline

Nov 8, 2019New chief executive Rohan Palekar becomes CEO¹²

Filings

379 filings to the SEC since October 2021: 4 annual reports, 12 quarterly reports, 51 major events, 185 insider forms, 63 large holders, 64 other. The latest 20:

Feb 13, 2026SCHEDULE 13G/A EDGAR
Nov 19, 2025EFFECT EDGAR
Nov 14, 2025SCHEDULE 13G/A EDGAR
Nov 14, 2025SCHEDULE 13G EDGAR
Nov 13, 2025SCHEDULE 13G/A EDGAR
Nov 10, 202515-12G EDGAR
Nov 3, 2025SCHEDULE 13D/A EDGAR
Nov 3, 20254 EDGAR
Oct 31, 2025SCHEDULE 13D/A EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR
Oct 30, 20254 EDGAR

The 379 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

41 open-market trades by officers, directors and large owners since October 2021: 16 buys and 25 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Jul 15, 2025	Le-Nguyen QuocSee Remarks	Sale	10,461	$11.02	$115.3K	Form 4
Apr 15, 2025	Le-Nguyen QuocSee Remarks	Sale	15,329	$5.95	$91.2K	Form 4
Jan 30, 2025	Kolchinsky PeterDirector	Buy	5,714,285	$8.75	$50.0M	Form 4
Jan 22, 2025	McWherter CharlesDirector	Buy	10,000	$6.71	$67.1K	Form 4
Jan 21, 2025	McWherter CharlesDirector	Buy	5,000	$6.55	$32.8K	Form 4
Jan 15, 2025	Le-Nguyen QuocSee Remarks	Sale	10,963	$6.49	$71.2K	Form 4
Dec 6, 2024	PALEKAR ROHANChief Executive Officer	Buy	5,000	$7.89	$39.5K	Form 4
Dec 5, 2024	McWherter CharlesDirector	Buy	10,000	$8.00	$80.0K	Form 4
Nov 22, 2024	PALEKAR ROHANChief Executive Officer	Buy	10,000	$8.35	$83.5K	Form 4
Oct 30, 2024	Le-Nguyen QuocSee Remarks	Sale	27,955	$8.12	$227.0K	Form 4
Apr 1, 2024	PALEKAR ROHANChief Executive Officer	Sale	52,718	$10.91	$575.2K	Form 4
Mar 4, 2024	Kolchinsky PeterDirector	Buy	1,350,000	$15.35	$20.7M	Form 4
Feb 26, 2024	PALEKAR ROHANChief Executive Officer	Sale	4,477	$10.76	$48.2K	Form 4
Dec 29, 2023	PALEKAR ROHANChief Executive Officer	Sale	50,000	$11.20	$560.0K	Form 4
Jul 17, 2023	LAPORTE KATHLEENDirector	Sale	12,500	$18.80	$235.0K	Form 4
Jun 5, 2023	PALEKAR ROHANChief Executive Officer	Sale	15,000	$20.00	$300.0K	Form 4
Jun 1, 2023	Atkinson Edward Morrow IIIDirector	Sale	6,250	$17.91	$111.9K	Form 4
May 9, 2023	Le-Nguyen QuocSee Remarks	Sale	13,683	$18.11	$247.8K	Form 4
Apr 4, 2023	Martins RyanChief Financial Officer	Sale	8,721	$14.95	$130.4K	Form 4
Mar 28, 2023	Hayden Michael RDirector	Buy	61,538	$16.15	$993.8K	Form 4

All 41 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Deep Track Capital, LPSCHEDULE 13G/A, 6 filings Jul 6, 2022 to Feb 13, 2026³¹
Pentwater Capital Management LPSCHEDULE 13G, 1 filing Nov 14, 2025³²
MONTANOVA CAPITAL, LLCSCHEDULE 13G/A, 6 filings Oct 30, 2023 to Nov 13, 2025³³
RA CAPITAL MANAGEMENT, L.P.SCHEDULE 13D/A, 11 filings Jul 6, 2022 to Nov 3, 2025³⁴
Adage Capital Management, L.P.SCHEDULE 13D/A, 2 filings Oct 3, 2025 to Oct 31, 2025³⁵
Janus Henderson Group Ltd.SCHEDULE 13G/A, 9 filings Feb 14, 2023 to Oct 7, 2025³⁶
VANGUARD GROUP INCSCHEDULE 13G, 1 filing Jul 29, 2025³⁷
RTW INVESTMENTS, LPSCHEDULE 13G/A, 3 filings Feb 14, 2024 to May 15, 2025³⁸
BIOTECHNOLOGY VALUE FUND L PSCHEDULE 13G/A, 5 filings Jul 11, 2022 to Feb 14, 2025³⁹
BlackRockSC 13G/A, 2 filings Oct 22, 2024 to Nov 8, 2024⁴⁰
State Street CorporationSC 13G/A, 2 filings Jan 24, 2024 to Oct 17, 2024⁴¹
Cormorant Asset Management, LPSC 13G/A, 2 filings Dec 29, 2022 to Feb 14, 2024⁴²
ADAGE CAPITAL PARTNERS GP, L.L.C.SC 13G/A, 3 filings Aug 12, 2022 to Feb 7, 2024⁴³
ORBIMED ADVISORS LLCSC 13D/A, 3 filings Jul 5, 2022 to Mar 24, 2023⁴⁴
GREAT POINT PARTNERS LLCSC 13G/A, 2 filings Jul 8, 2022 to Feb 14, 2023⁴⁵
Longitude Capital Partners III, LLCSC 13D/A, 2 filings Feb 7, 2022 to Feb 14, 2023⁴⁶
Wellington Management CompanySC 13G/A, 2 filings Jan 10, 2022 to Jun 10, 2022⁴⁷
Ran NussbaumSC 13G/A, 1 filing Feb 14, 2022⁴⁸

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGAR89bio, Inc. filings on SEC EDGAR
2
SEC EDGAR89bio, Inc. filings on SEC EDGAR
3
SEC EDGAR89bio, Inc. annual report, Item 1 (Business)
4
SEC EDGAR89bio, Inc. 10-K for fiscal 2018
5
SEC EDGAR89bio, Inc. 10-K for fiscal 2019
6
SEC EDGAR89bio, Inc. 10-K for fiscal 2020
7
SEC EDGAR89bio, Inc. 10-K for fiscal 2021
8
SEC EDGAR89bio, Inc. 10-K for fiscal 2022
9
SEC EDGAR89bio, Inc. 10-Q for fiscal 2025
10
SEC EDGAR89bio, Inc. 10-Q for fiscal 2025
11
SEC EDGAR89bio, Inc. 10-K for fiscal 2021
12
SEC EDGARRohan Palekar, Chief executive officer
13
SEC EDGARRyan Martins, Chief financial officer
14
SEC EDGARFrancis Willard Sarena, Chief operating officer
15
SEC EDGARRam Waisbourd, Chief operating officer
16
SEC EDGARHarry H. Mansbach, Chief Medical Officer
17
SEC EDGARQuoc Le-Nguyen, Officer
18
SEC EDGARRam Waisbourd, Officer
19
SEC EDGARMartin Babler, Board member
20
SEC EDGARCharles McWherter, Board member
21
SEC EDGAREdward Morrow Atkinson Iii., Board member
22
SEC EDGARKathleen Laporte, Board member
23
SEC EDGARSteven Altschuler, Board member
24
SEC EDGARLota S. Zoth, Board member
25
SEC EDGARAnat Naschitz, Board member
26
SEC EDGARDerek Dirocco, Board member
27
SEC EDGARGregory Grunberg, Board member
28
SEC EDGARPeter Kolchinsky, Board member
29
SEC EDGARTomer Kariv, Board member
30
SEC EDGARIsrael Gp L.p. Orbimed Ii., Board member
31
SEC EDGARDeep Track Capital, LP SCHEDULE 13G/A on 89bio, Inc.
32
SEC EDGARPentwater Capital Management LP SCHEDULE 13G on 89bio, Inc.
33
SEC EDGARMONTANOVA CAPITAL, LLC SCHEDULE 13G/A on 89bio, Inc.
34
SEC EDGARRA CAPITAL MANAGEMENT, L.P. SCHEDULE 13D/A on 89bio, Inc.
35
SEC EDGARAdage Capital Management, L.P. SCHEDULE 13D/A on 89bio, Inc.
36
SEC EDGARJanus Henderson Group Ltd. SCHEDULE 13G/A on 89bio, Inc.
37
SEC EDGARVANGUARD GROUP INC SCHEDULE 13G on 89bio, Inc.
38
SEC EDGARRTW INVESTMENTS, LP SCHEDULE 13G/A on 89bio, Inc.
39
SEC EDGARBIOTECHNOLOGY VALUE FUND L P SCHEDULE 13G/A on 89bio, Inc.
40
SEC EDGARBlackRock SC 13G/A on 89bio, Inc.
41
SEC EDGARState Street Corporation SC 13G/A on 89bio, Inc.
42
SEC EDGARCormorant Asset Management, LP SC 13G/A on 89bio, Inc.
43
SEC EDGARADAGE CAPITAL PARTNERS GP, L.L.C. SC 13G/A on 89bio, Inc.
44
SEC EDGARORBIMED ADVISORS LLC SC 13D/A on 89bio, Inc.
45
SEC EDGARGREAT POINT PARTNERS LLC SC 13G/A on 89bio, Inc.
46
SEC EDGARLongitude Capital Partners III, LLC SC 13D/A on 89bio, Inc.
47
SEC EDGARWellington Management Company SC 13G/A on 89bio, Inc.
48
SEC EDGARRan Nussbaum SC 13G/A on 89bio, Inc.