Workflow
Entera Bio(ENTX)
icon
Search documents
Entera Bio(ENTX) - 2025 Q1 - Quarterly Report
2025-05-09 20:08
Financial Performance - As of March 31, 2025, the total assets of Entera Bio Ltd. increased to $21.6 million from $9.39 million as of December 31, 2024, representing a growth of 130%[24] - The company reported revenues of $42,000 for the three months ended March 31, 2025, compared to no revenues in the same period of 2024[27] - Operating expenses for the first quarter of 2025 were $2.56 million, up from $2.06 million in the same period of 2024, reflecting an increase of 24%[27] - The net loss for the three months ended March 31, 2025, was $2.57 million, compared to a net loss of $2.02 million for the same period in 2024, indicating a 27% increase in losses[27] - Cash and cash equivalents at the end of the period were $12.57 million, up from $8.66 million at the beginning of the quarter, marking a 45% increase[24] - The company has an accumulated deficit of $116.5 million as of March 31, 2025, which has increased from $113.93 million at the end of 2024[24] - For the three months ended March 31, 2025, the company recognized total revenues of $42 thousand from a research services agreement[56] - The company’s basic loss per share is calculated based on the net loss for the period divided by the weighted average number of outstanding shares[44] - As of March 31, 2025, the company reported accrued expenses and other payables totaling $1,320 thousand, compared to $874 thousand as of December 31, 2024[52] Strategic Initiatives - Entera Bio Ltd. is preparing to initiate a Phase 3 registrational study for its product candidate EB613, aimed at treating post-menopausal women with low bone mineral density[37] - The company intends to license its N-Tab™ technology to biopharmaceutical companies for use with their proprietary compounds, indicating a strategy for market expansion[38] - The company is evaluating various financing alternatives and strategic collaborations to support its ongoing operations and future research and clinical development[38] - The company entered into a collaboration agreement with OPKO, granting an exclusive license for the development of a GLP-1/glucagon dual agonist, with the company retaining 40% of the proceeds and development costs[57] - The company issued 3,685,226 ordinary shares to OPKO for a total purchase price of $8.0 million, at approximately $2.17 per share[58] Shareholder Information - Entera Bio Ltd. does not anticipate paying any cash dividends in the foreseeable future, focusing instead on capital appreciation for shareholders[18] - The company issued 2,700,000 ordinary shares under the Leerink ATM Program for net proceeds of $5,997 thousand at a weighted average price of $2.29 per share[49] - The company granted 142,545 options to purchase ordinary shares to non-executive board members with an exercise price of $2.28 per share[51] Operational Context - The company’s research personnel and some management personnel are located in Israel, but core activities remain largely unaffected by ongoing hostilities[39] - The company recognized revenue over the contract term using the input model method for the research services agreement due to the unique nature of the services provided[54] - The company is evaluating the impact of recently issued accounting pronouncements on its financial statement disclosures[47]
Entera Bio(ENTX) - 2025 Q1 - Quarterly Results
2025-05-09 20:05
Financial Performance - The net loss for Q1 2025 was $2.6 million, or $0.06 per ordinary share, compared to a net loss of $2.0 million, or $0.05 per ordinary share, for Q1 2024[10]. - Total revenues for the three months ended March 31, 2025, were $42,000, compared to $0 for the same period in 2024[18]. - The net loss for the three months ended March 31, 2025, was $2,567,000, compared to a net loss of $2,017,000 in the same period last year, indicating a 27.3% increase in losses[18]. - Loss per share for Q1 2025 was $0.06, compared to $0.05 for Q1 2024[18]. Expenses - Research and development expenses increased to $1.1 million in Q1 2025 from $0.7 million in Q1 2024, primarily due to consulting fees and collaboration costs[12]. - General and administrative expenses rose to $1.4 million in Q1 2025 from $1.3 million in Q1 2024, mainly due to increased IP costs and legal fees related to the OPKO collaboration[12]. - Total operating expenses for Q1 2025 were $2,563,000, compared to $2,062,000 in Q1 2024, marking a 24.3% increase[18]. - Research and development expenses increased to $1,123,000, up from $735,000 year-over-year, representing a 52.7% increase[18]. - General and administrative expenses rose to $1,440,000, compared to $1,327,000 in the prior year, reflecting an 8.5% increase[18]. Assets and Equity - Total assets as of March 31, 2025, were $21,600,000, significantly up from $9,390,000 as of December 31, 2024, representing a 130.5% increase[16]. - Total shareholders' equity increased to $19,379,000 from $8,080,000, reflecting a growth of 140.0%[16]. - Total liabilities rose to $2,221,000 from $1,310,000, indicating a 69.3% increase[16]. Collaboration and Development - Entera is preparing to initiate a Phase 3 registrational study for EB613, the first oral anabolic treatment for osteoporosis, pending FDA qualification of a quantitative BMD endpoint[11]. - The company plans to submit an Investigational New Drug application for the Oral OXM program later in 2025 or early 2026, with OPKO holding a 60% stake in the program[7]. - Entera's collaboration with OPKO includes the development of the first oral GLP-1/glucagon peptide tablet for obesity and the first oral GLP-2 peptide tablet for short bowel syndrome[4]. Team and Market Focus - Entera has strengthened its core team with key appointments, including Leslie Gautam as Chief Business Officer and Cherin Smith as Head of Clinical Operations, both bringing extensive experience in women's health[8]. - The company aims to address significant unmet needs in osteoporosis treatment, with over 54 million individuals in the U.S. at risk for bone health issues[2]. - EB613 has shown promising results in increasing bone mineral density and fracture resistance in postmenopausal women, with data consistent with subcutaneous teriparatide[7]. Cash Position - As of March 31, 2025, Entera had cash and cash equivalents of $20.6 million, with $8 million allocated for collaboration activities with OPKO, expected to support operations through mid-Q3 2026[9].
Entera Bio Announces First Quarter 2025 Financial Results and Business Updates
Globenewswire· 2025-05-09 20:05
Core Insights - Entera Bio Ltd. reported financial results and business updates for Q1 2025, highlighting progress in its oral peptide and protein replacement therapies, particularly EB613 for osteoporosis and Oral OPK-88006 for metabolic diseases [1][2][12]. Financial Performance - As of March 31, 2025, Entera had cash and cash equivalents of $20.6 million, with $8 million allocated for collaboration with OPKO, expected to sustain operations through mid-Q3 2026 [12]. - The net loss for Q1 2025 was $2.6 million, or $0.06 per share, compared to a net loss of $2.0 million, or $0.05 per share, in Q1 2024 [13][21]. Product Development - EB613 is the first oral anabolic treatment for postmenopausal women with osteoporosis, with plans to initiate a Phase 1 study in H2 2025 [2][3]. - The company is preparing for a pivotal program for EB613, which has shown promising results in increasing bone mineral density (BMD) [3][4]. - Entera is also developing Oral OPK-88006, a dual-acting GLP1/Glucagon tablet for metabolic diseases, with a 40% stake in its economics [2][10]. Clinical Advancements - EB613's early mechanistic effects were selected for oral presentation at the 2025 World Congress on Osteoporosis, indicating strong interest in its clinical potential [2]. - The SABRE initiative is advocating for regulatory reform to qualify BMD as a surrogate endpoint for fracture risk, which could facilitate the approval of new osteoporosis treatments [3]. Team Expansion - Entera has strengthened its core team with the appointment of Leslie Gautam as Chief Business Officer and Cherin Smith as Head of Clinical Operations, both bringing extensive experience in women's health and clinical operations [8][11].
Entera Bio’s EB613 Demonstrates Early Impact on Both Trabecular and Cortical Bone Compartments with 6 Months of Treatment in Post-Menopausal Women with Osteoporosis - Highlighted as Oral Presentation at WCO-IOF ESCEO
Globenewswire· 2025-04-15 12:30
Core Insights - Entera Bio Ltd. is developing EB613, the first once-daily oral anabolic PTH(1-34) tablet for postmenopausal women with osteoporosis at high risk for fracture [1][4] - The Phase 2 study showed significant increases in bone mineral density (BMD) at various skeletal sites compared to placebo, indicating a dual effect of stimulating bone formation and inhibiting resorption [1][2] - The company plans to initiate a Phase 3 registrational study for EB613 following positive Phase 2 results [5] Company Overview - Entera Bio is a clinical-stage company focused on oral peptide and protein replacement therapies, leveraging its proprietary N-Tab™ technology [5] - The company's pipeline includes five differentiated oral peptide programs targeting conditions such as osteoporosis, hypoparathyroidism, and obesity [5] - EB613 is positioned as a solution for the treatment gap in osteoporosis care, aiming to provide a simple daily tablet for patients who currently lack effective treatment options [4][5] Clinical Study Findings - The Phase 2 study randomized 161 postmenopausal women and demonstrated early effects on trabecular and cortical bone, suggesting rapid bone strengthening and fracture resistance [2][3] - 3D-DXA analysis revealed substantial improvements in areal BMD at the total hip and femoral neck, consistent with results from subcutaneous teriparatide [3] - The study's findings indicate a broad distribution of bone loss with placebo and a similar distribution of bone gain with EB613 in the femur [2] Market Context - Osteoporosis affects approximately 200 million women globally, with a significant risk of fragility fractures, particularly in postmenopausal women [4] - Current injectable anabolic treatments are not viable for many patients, highlighting the need for an effective oral treatment like EB613 [4]
Entera Bio's EB613 Demonstrates Early Impact on Both Trabecular and Cortical Bone Compartments with 6 Months of Treatment in Post-Menopausal Women with Osteoporosis - Highlighted as Oral Presentation at WCO-IOF ESCEO
Newsfilter· 2025-04-15 12:30
Core Insights - Entera Bio Ltd. announced positive results from a Phase 2 study of EB613, an oral PTH(1-34) tablet aimed at treating postmenopausal women with osteoporosis at high risk for fractures [1][2][4] - The study demonstrated significant increases in bone mineral density (BMD) across various skeletal sites compared to placebo, indicating the potential for rapid bone strengthening and fracture resistance [2][3] Company Overview - Entera Bio is focused on developing oral peptide and protein replacement therapies, leveraging its proprietary N-Tab™ technology platform [5] - The company's lead product, EB613, is positioned as the first oral anabolic treatment for postmenopausal women with low BMD and high-risk osteoporosis [5] - Entera is preparing to initiate a Phase 3 registrational study for EB613 following FDA qualification of a quantitative BMD endpoint [5] Study Details - The Phase 2 study involved 161 postmenopausal women and assessed the effects of EB613 over 6 months, showing improvements in integral volumetric BMD, trabecular volumetric BMD, cortical thickness, and cortical surface BMD compared to placebo [2][3] - 3D-DXA analysis indicated a dual effect of EB613, stimulating bone formation while inhibiting resorption, with significant improvements noted in both trabecular and cortical bone [1][2] Market Context - Osteoporosis is a significant health concern, affecting approximately 200 million women globally, with a high risk of fragility fractures [4] - Current injectable anabolic treatments are not viable for many patients, highlighting the need for an effective oral treatment option like EB613 [4]
Entera Bio(ENTX) - 2024 Q4 - Annual Report
2025-03-28 20:11
Financial Performance - Entera Bio Ltd. reported revenues of $181,000 for the year ended December 31, 2024, compared to no revenues in 2023[500]. - The company incurred a net loss of $9,541,000 in 2024, an increase from a net loss of $8,889,000 in 2023, reflecting a 7.3% increase in losses year-over-year[500]. - Total operating expenses for 2024 were $9,594,000, up from $8,891,000 in 2023, indicating an increase of approximately 7.9%[500]. - The net loss for the year ended December 31, 2024, was $9,541,000, compared to a net loss of $8,889,000 in 2023, representing an increase of approximately 7.3%[508]. - The company reported a total loss before taxes of $9,527 for the year ended December 31, 2024, compared to $8,860 in 2023[625]. Cash and Assets - Cash and cash equivalents decreased to $8,660,000 as of December 31, 2024, down from $11,019,000 in 2023, representing a decline of 21.4%[497]. - The total assets of Entera Bio Ltd. decreased to $9,390,000 in 2024 from $11,765,000 in 2023, a reduction of 20.2%[497]. - The company’s accumulated deficit increased to $113,927,000 in 2024 from $104,386,000 in 2023, reflecting a rise of 9.8%[497]. - Cash flows used in operating activities decreased to $6,818,000 in 2024 from $7,310,000 in 2023, indicating improved cash management[508]. - The company expects its available funds to support operations into the third quarter of 2026, excluding the initiation of the Phase 3 study for EB613[513]. Shareholder Equity and Capital Raising - The number of shares outstanding increased to 38,837,220 as of December 31, 2024, from 35,476,341 in 2023, marking an increase of 6.7%[497]. - The company raised $3,960,000 through ATM programs in 2024, a significant increase from $5,000 in 2023, indicating enhanced financing activities[508]. - An aggregate of 2,236,126 ordinary shares were issued under the Leerink ATM Program for net proceeds of $3,840 at a weighted average price of $1.77 per share during the year ended December 31, 2024[589]. - The Company raised approximately $6.6 million from a private offering (2023 PIPE) by issuing 6,662,389 ordinary shares at a purchase price of $0.835 per unit[592]. - The Company issued 143,049 ordinary shares to non-executive board members in lieu of cash board fees, valued at $263 based on the market price at the grant date[600]. Operational Developments - The company is preparing to initiate a Phase 3 registrational study for its product candidate EB613, which is aimed at treating post-menopausal women with low bone mineral density[511]. - The ongoing conflict in Israel has had an immaterial impact on the company's operations and financial condition during 2024 and 2023[515]. - The Company entered into a collaboration agreement with OPKO, granting an exclusive license for developing a GLP-1/glucagon dual agonist, with a revenue sharing of 40% for Entera Bio and 60% for OPKO[637]. - The Company has entered into a research collaboration agreement with OPKO Biologics, Inc., recognizing total expenses of $71 for the year ended December 31, 2024[580]. Compensation and Expenses - The company incurred share-based compensation expenses of $2,556,000 in 2024, up from $1,689,000 in 2023, reflecting increased employee compensation costs[508]. - The Company has not paid any cash dividends and does not anticipate doing so in the foreseeable future[549]. - The Company incurred transaction costs of approximately $1,000 related to the issuance of Broker Warrants and Finder Warrants[599]. Lease and Tax Information - The Company has a total lease liability of $272 as of December 31, 2024, with future minimum lease payments totaling $301[574]. - As of December 31, 2024, the deferred tax assets were $20,873, with a valuation allowance of the same amount, indicating uncertainty in realization[630]. - The Company has a weighted-average remaining lease term of 1.54 years and a weighted-average discount rate of 14% for its operating leases as of December 31, 2024[573]. Stock Options and Warrants - As of December 31, 2024, Entera Bio Ltd. had a total of 7,652,654 outstanding options with a weighted average exercise price of $2.32, compared to 7,105,414 options at $2.57 in 2023[615]. - The aggregate intrinsic value of outstanding options as of December 31, 2024, was $3,632, while the intrinsic value of exercisable options was $2,255[615]. - The company granted 2,116,331 options in 2024 at an average exercise price of $1.49, compared to 1,798,884 options at $0.78 in 2023[615]. - The exercise price for Investor Warrants is set at $1.00 per share, which are immediately exercisable and expire five years from the date of issuance[594].
Entera Bio(ENTX) - 2024 Q4 - Annual Results
2025-03-28 20:06
Exhibit 99.1 JERUSALEM, March 28 2025 –Entera Bio Ltd. (NASDAQ: ENTX), a leader in the development of oral peptides and proteins replacement therapies, today reported financial results and key business achievements for the year ended December 31, 2024. "2024 was a truly transformational year for Entera. We delivered key data read-outs and advanced each of our oral peptide PTH(1- 34), GLP1/Glucagon and GLP2 tablet programs, significantly increased our stockholder value, and efficiently strengthened our balan ...
Entera Bio Announces Full Year 2024 Financial Results and Provides Business Updates
Globenewswire· 2025-03-28 20:05
Core Insights - Entera Bio Ltd. reported significant advancements in its oral peptide and protein replacement therapies, particularly in osteoporosis and obesity treatments, during 2024 [2][4][12] - The company aims to address unmet medical needs with its innovative N-Tab™ platform, focusing on oral formulations for conditions like osteoporosis, hypoparathyroidism, and short bowel syndrome [12] Financial Performance - For the year ended December 31, 2024, Entera reported a net loss of $9.5 million, or $0.25 per share, compared to a net loss of $8.9 million, or $0.31 per share, for 2023 [11][21] - As of December 31, 2024, the company had cash and cash equivalents of $8.7 million, which increased to $21 million by March 28, 2025, due to investments from institutional shareholders [9] Key Achievements - Entera advanced its EB613 program, the first oral PTH(1-34) tablet treatment candidate for women with osteoporosis, and is preparing for a pivotal Phase 3 study [3][4] - The company also announced the first GLP-1/glucagon agonist peptide tablet candidate for obesity, with promising pharmacokinetic results [5][10] - Entera's collaboration with OPKO Health has been pivotal in developing its oral peptide therapies, including the oral GLP-2 tablets for short bowel syndrome [10][12] Research and Development - Research and development expenses for 2024 were $4.5 million, consistent with the previous year, reflecting ongoing efforts in clinical trials and preparation for future studies [9][21] - The company is focused on innovative approaches to osteoporosis treatment, with the SABRE project under FDA review to qualify bone mineral density as a surrogate endpoint for fractures [3][6] Market Potential - Entera targets a significant market with an estimated 200 million women suffering from osteoporosis, highlighting the need for new treatment options [3] - The company's oral therapies aim to improve patient compliance and address the limitations of current injectable treatments for conditions like short bowel syndrome and obesity [10][12]
OPKO Health and Entera Bio Enter into Collaboration Agreement to Advance Oral GLP-1/Glucagon Tablet Candidate into the Clinic to Treat Obesity and Metabolic Disorders
Newsfilter· 2025-03-17 12:00
Core Viewpoint - OPKO Health and Entera Bio have entered into a collaboration and license agreement to develop the first oral dual agonist GLP-1/glucagon peptide for treating obesity and metabolic disorders, with plans to file an Investigational New Drug application with the FDA later this year [1][2]. Group 1: Collaboration Details - OPKO will hold a 60% ownership interest in the program, while Entera will hold 40%, and they will share development costs accordingly [2]. - OPKO purchased 3,685,226 ordinary shares of Entera at $2.17 per share to fund Entera's share of costs through Phase 1 of the development program [2]. - Entera has the option to continue funding its share post-Phase 1 to maintain its ownership interest; if it opts out, it will retain a 15% interest in the program [2]. Group 2: Product Information - The program combines OPKO's long-acting oxyntomodulin analog (OPK-88006) with Entera's N-Tab™ technology, which has shown favorable pharmacodynamic and pharmacokinetic data [1][5]. - Oxyntomodulin is a naturally occurring peptide hormone that suppresses appetite and induces weight loss, with additional cardioprotective and anti-fibrotic properties [5]. Group 3: Company Backgrounds - Entera Bio focuses on developing oral peptide and protein replacement therapies, leveraging its proprietary N-Tab™ technology, with a pipeline that includes five oral peptide programs [6]. - OPKO Health is a multinational biopharmaceutical and diagnostics company aiming to establish leading positions in rapidly growing markets through its discovery and commercialization expertise [7].
Entera Bio to Participate in Upcoming Events
Globenewswire· 2025-02-24 13:30
Company Overview - Entera Bio Ltd. is a clinical stage company focused on developing oral peptide and protein replacement therapies in tablet form, addressing significant unmet medical needs [2] - The company utilizes a proprietary technology platform known as N-Tab™ and has a pipeline that includes five differentiated, first-in-class oral peptide programs targeting PTH(1-34), GLP-1, and GLP-2 [2] Product Development - The most advanced product candidate, EB613, is being developed as the first oral osteoanabolic (bone building) once-daily tablet treatment for post-menopausal women with low bone mineral density (BMD) and high-risk osteoporosis [2] - A Phase 2 study of EB613 tablets (n=161) met primary and secondary endpoints related to bone turnover biomarkers and BMD [2] - Entera is preparing to initiate a Phase 3 registrational study for EB613 following FDA's qualification of a quantitative BMD endpoint [2] - The EB612 program is aimed at developing the first oral PTH(1-34) tablet for hypoparathyroidism [2] - The company is also developing the first oral oxyntomodulin for obesity treatment and the first oral GLP-2 peptide tablet for rare malabsorption conditions in collaboration with OPKO Health [2] Upcoming Conferences - Entera Bio will participate in several upcoming conferences, including: - Leerink Partners Global Healthcare Conference on March 12, 2025, in Miami, FL [2] - 2025 World Congress on Osteoporosis, Osteoarthritis and Musculoskeletal Diseases with an oral presentation on April 11, 2025, and a poster presentation on April 13, 2025, in Rome [2] - 2025 BIO International Convention from June 16-19, 2025, in Boston, MA [2]