Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Martins Ryan 2. Issuer Name and Ticker or Trading Symbol 89bio, Inc. [ETNB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Financial Officer (Last) (First) (Middle) C/O 89BIO, INC., 655 MONTGOMERY STREET, SUITE 1500 3. Date of Earliest Transaction (Month/Day/Year) 10/22/2025 (Street) SAN FRANCISCO, CA 94111 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 10/22/2025 M 76,901 A $3.11 335,397(1) D Common Stock 10/22/2025 M 3,898 A $4.44 339,295 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (Right to Buy)

$3.11

10/22/2025

M

76,901

(2)

07/30/2029

Common Stock

76,901

$ 0

0 (3)

D

Stock Option (Right to Buy)

$4.44

10/22/2025

M

3,898

(4)

02/16/2032

Common Stock

3,898

$ 0

48,102

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Martins Ryan C/O 89BIO, INC. 655 MONTGOMERY STREET, SUITE 1500 SAN FRANCISCO, CA 94111			Chief Financial Officer

Signatures

/s/ Ryan A. Murr, as attorney-in-fact for Ryan Martins		10/23/2025
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Due to an administrative error, the exercise of an aggregate of 5,000 options was erroneously omitted from the Form 4 filed by the Reporting Person on March 27, 2023. This form reflects the correct amount of common stock owned by the Reporting Person.
(2)	This option is vested in full.
(3)	Due to an administrative error, the exercise of an aggregate of 5,000 options was erroneously omitted from the Form 4 filed by the Reporting Person on March 27, 2023. This form reflects the correct amount of stock options owned by the Reporting Person.
(4)	This option represents a right to purchase a total of 52,000 shares of the Issuer's Common Stock, one quarter of which vested on February 17, 2023, with the remaining three quarters vesting in equal quarterly installments over the following three years, subject to the Reporting Person's continued service to the Issuer.

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