BUZZ-89bio slides on stock offering to fund MASH drug

** Shares of 89Bio ETNB.O down 6.2% post-market to $8.44 as co looks to raise equity

** ETNB shares closed up ~26% at $9 on Mon, getting a boost after Akero Therapeutics AKRO.O said its lead drug, efruxifermin, showed it can help reverse scarring in patients with type of fatty liver disease known as metabolic dysfunction-associated steatohepatitis (MASH). AKRO shares ended session on Mon up 97.5% at $51.71

** After the bell, ETNB commences $250 mln offering comprised of stock and pre-funded warrants to fund its lead candidate, pegozafermin, to treat MASH

** Goldman Sachs, Leerink and BofA lead bookrunners

** Co has ~117.58 mln shares outstanding for ~$1.1 bln market cap, per LSEG

** ETNB shares, which have risen for past six sessions, up 15.1% YTD

** Separately, AKRO launched $300 mln stock offering after the bell