89bio Announces Incentive Grants Under Nasdaq Listing Rule 5635(c)(4)

SAN FRANCISCO, Aug. 9, 2024 (GLOBE NEWSWIRE) — 89bio, Inc. (the “Company” or “89bio”) (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases, today announced that the Compensation Committee of the Company’s Board of Directors has approved the grant of non-qualified stock options to purchase an aggregate of 19,800 shares of the Company’s common stock to two new employees and 350,000 shares of the Company’s common stock to newly hired Chief Operating Officer, Francis Sarena (the “Inducement Grants”) on August 5, 2024 (the “Grant Date”). The Inducement Grants were granted pursuant to the Company’s 2023 Inducement Plan (the “Plan”). The Inducement Grants were provided as incentives to these individuals who joined 89bio, in accordance with Nasdaq Listing Rule 5635(c)(4).

The Inducement Grants have an exercise price per share equal to the closing price of 89bio’s common stock on the Grant Date. The Inducement Grants will vest over a four-year period, with 25% of the shares vesting on the first anniversary of the employee’s start date, and the remainder of the shares vesting in 12 equal quarterly installments thereafter, subject to each employee’s continued employment with 89bio through the applicable grant dates.