89bio Inc. ETNB (-3.19%) announced Friday that it had increased its stock offering by 38%. The stock offering was launched by the biopharmaceutical firm after a 55% increase in stock prices in the past 2 days. To raise $275.0million, the company sold 16.92 million shares at $16.25 each. The closing price was $16.94, which was 4.1% lower than Thursday’s. The company announced late Thursday that it had proposed a public offering for $200 million of common stock. Premarket trading saw the stock gain 0.2%. Premarket trading saw a 0.2% increase in stock. This was in response to the announcement by the company that its experimental treatment of nonalcoholic steatohepatitis resulted in NASH resolution in comparison with placebo during a Phase 2b clinical study. Over the past twelve months, the stock has risen 325%, while the iShares Biotechnology exchange traded fund lost 4.4%, and the S&P 500 SPX, -0.61% fell 12.6%.