Entera Bio(US:ENTX)2025-11-14 21:11Financial Performance - Revenues for the nine months ended September 30, 2025, were $42,000, a decrease of 57.6% from $99,000 for the same period in 2024[24] - Operating expenses for the nine months ended September 30, 2025, totaled $8,487,000, an increase of 16.9% from $7,257,000 in the same period of 2024[24] - Net loss for the nine months ended September 30, 2025, was $8,423,000, compared to a net loss of $7,183,000 for the same period in 2024, reflecting an increase of 17.3%[24] - The company reported a loss per share of $0.18 for the nine months ended September 30, 2025, compared to a loss per share of $0.19 for the same period in 2024[24] - For the nine months ended September 30, 2025, the segment net loss was $8,423, compared to a net loss of $7,183 for the same period in 2024, reflecting an increase of approximately 17.3%[66] Assets and Liabilities - Total current assets increased to $17,007,000 as of September 30, 2025, compared to $8,972,000 at December 31, 2024, representing an increase of 89.5%[21] - Total liabilities increased to $2,173,000 as of September 30, 2025, from $1,310,000 at December 31, 2024, marking a rise of 66%[21] - Shareholders' equity rose to $15,234,000 as of September 30, 2025, compared to $8,080,000 at December 31, 2024, indicating an increase of 88.5%[21] - Cash and cash equivalents at the end of the period were $8,574,000, slightly down from $8,660,000 at the end of 2024[21] Cash Flow and Financing - Cash flows from financing activities for the nine months ended September 30, 2025, amounted to $13,536,000, significantly higher than $1,259,000 for the same period in 2024[31] - The company has not anticipated paying any cash dividends in the foreseeable future, focusing on capital appreciation as the sole source of gain for shareholders[16] - The Company has agreed to use the proceeds from the sale of ordinary shares solely to fund its development cost obligations under the 2025 Collaboration Agreement[61] - In October and November 2025, 192,736 warrants were exercised for a total consideration of $155,249[68] Research and Development - Entera's most advanced product candidate, EB613, met primary and secondary endpoints in a Phase 2 study involving 161 post-menopausal women with low bone mineral density and osteoporosis[34] - Entera Bio Ltd. plans to conduct a Phase 3 study for EB613, with a primary endpoint evaluating change in total hip bone mineral density[34] - The company is developing the first oral oxyntomodulin for obesity treatment under a collaboration agreement with OPKO Health, Inc., signed in 2025[36] - As of September 30, 2025, Entera's management believes available funds will support operations through the middle of the third quarter of 2026, assuming ongoing capital use for research and development[36] - The Company completed the first stage of research services under a material transfer and research project agreement in Q1 2025, recognizing $42 in revenues for the nine months ended September 30, 2025[55] Collaboration Agreements - Under the 2025 Collaboration Agreement with OPKO, the Company will retain 40% of all proceeds from the program, while OPKO will retain 60%[58] - The company issued 3,685,226 ordinary shares to OPKO for a total purchase price of $8 million, at approximately $2.17 per share, as part of a collaboration agreement[49] - The Company recognized net expenses of $190 related to the 2025 Collaboration Agreement for the nine months ended September 30, 2025[65] - The Company incurred net expenses of $1,544 related to subcontractors and consulting for the nine months ended September 30, 2025, up from $934 in the same period of 2024, representing an increase of approximately 65.3%[66] Going Concern - The company incurred negative cash flows from operating activities since its inception in 2009, raising substantial doubt about its ability to continue as a going concern[37]