Why Is 89bio (ETNB) Stock Up 34% Today?

  • 89bio (ETNB) stock is on the rise after posting clinical trial results.
  • That includes positive results from pegozafermin as a nonalcoholic steatohepatitis (NASH) treatment.
  • This has the company seeking a Phase 3 clinical trial of the drug.
ETNB Stock - Why Is 89bio (ETNB) Stock Up 34% Today?

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89bio (NASDAQ:ETNB) stock is taking off on Wednesday after the company posted results from a Phase 2b clinical trial.

The goal of this study is to determine the effectiveness of pegozafermin in treating patients with nonalcoholic steatohepatitis (NASH). The good news for investors in ETNB stock is that it was incredibly effective as a treatment for NASH.

89bio reports that pegozafermin saw high statistical significance with its 44mg every two weeks and 30mg weekly doses. That saw it surpass the primary histology endpoints provided by the Food and Drug Administration (FDA).

Arun J. Sanyal, MBBS, M.D., Professor of the Departments of Medicine, Physiology, and Molecular Pathology at Virginia Commonwealth University, said the following about the news:

“I was pleased to see the impressive results on the critical histology endpoints and non-invasive tests in the ENLIVEN trial. I was especially encouraged by the significant improvement in fibrosis relative to placebo, as fibrosis is a key driver of NASH disease progression which can lead to cirrhosis and other negative clinical outcomes.”

What’s Next For ETNB Stock?

89bio is excited about the results of this clinical trial and wants to continue the development of pegozafermin. This has it seeking aid from the FDA in launching a Phase 3 clinical trial for the drug.

If pegozafermin continues to perform well in clinical trials, it would go a long war toward the commercialization of the treatment. If that happens, investors can expect shares of ETNB stock to rise higher.

ETNB stock is up 33.8% as of Wednesday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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