Entera Bio(ENTX) - 2025 Q1 - Quarterly Report

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]