89bio, Inc. has amended their existing Loan and Security Agreement, now allowing for an increased total loan amount of $150 million, up from $100 million. This includes a first tranche of $70 million, with half available at closing, an additional $30 million contingent on certain clinical milestones, and a third tranche of up to $50 million at the discretion of the Lenders. The loan matures on October 1, 2028, and is secured by assets, excluding intellectual property. The variable interest rate is the greater of 8.95% or Prime Rate plus 1.75%. The company also issued a warrant for 406,951 shares at $7.3719 to K2 HealthVentures LLC with piggyback registration rights. Shares and warrants are unregistered equity securities being offered under an exemption from registration.