SCHEDULE 13G/A: Deep Track Capital Discloses 9.18% Stake in 89bio, Inc.

Deep Track Capital, LP, along with Deep Track Biotechnology Master Fund, Ltd. and David Kroin, has disclosed a significant 9.18% beneficial ownership stake in biotechnology company 89bio, Inc.

Summary

• Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin collectively reported beneficial ownership of 13,816,333 shares of 89bio, Inc. common stock.
• This aggregate amount represents 9.18% of 89bio, Inc.'s common stock outstanding.
• The reported ownership includes 4,500,000 pre-funded warrants exercisable into common stock.
• The calculation of the percentage of class is based on 145,984,182 common shares outstanding as of February 24, 2025, plus the 4,500,000 pre-funded warrants, totaling 150,484,182 common stock equivalents.
• The reporting persons share both voting and dispositive power over all 13,816,333 shares.
• The filing states that the securities were not acquired and are not held for the purpose of changing or influencing the control of 89bio, Inc.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would indicate a positive or negative sentiment regarding the company's performance or outlook.

Risks

• The 4,500,000 pre-funded warrants are subject to a 9.99% beneficial ownership limitation, meaning the holder cannot exercise warrants if it would result in beneficial ownership exceeding this threshold for Section 13(d) or Section 16 purposes.

Future Outlook

NA

Industry Context

This filing indicates a significant passive investment by a specialized biotechnology investment fund in 89bio, Inc., a company operating in the biotechnology sector. Such disclosures are common for institutional investors acquiring substantial stakes in publicly traded companies.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by an institutional investor may be perceived as a vote of confidence, potentially influencing market sentiment and share price.

Key Dates

Keywords

89bio Inc., Deep Track Capital, Deep Track Biotechnology Master Fund, David Kroin, Beneficial Ownership, SEC Filing, Schedule 13G, Common Stock, Biotechnology, Investment Fund, Warrants