Entera Bio Announces Closing of Private Placement - Extends Cash Runway into 2025
26 Dezembro 2023 - 10:00AM
Entera Bio Ltd. (NASDAQ: ENTX), (“Entera” or the “Company”) a
leader in the development of orally delivered peptides and
therapeutic proteins, announced that, on December 22, 2023, it
closed a private placement with certain existing and new investors.
The Company issued and sold 7,916,879 units at a price of $0.835
per unit, each consisting of one ordinary share of Entera (or one
pre-funded warrant in lieu thereof), and one five-year warrant.
Gross proceeds to Entera, before offering expenses, were
approximately $6.6 million, extending the Company’s cash runway
into 2025.
The five-year warrants to purchase one ordinary
share at an exercise price of $1.00 per ordinary share,
representing a 41% premium to the Nasdaq closing price per ordinary
share on Wednesday, December 20, 2023. If all warrants were
exercised for cash, Entera would be entitled to receive additional
proceeds of approximately $7.9 million. The Company intends to use
the net proceeds from the private placement for general working
capital purposes. Network 1 Financial Securities Inc. (as consulted
by Intuitive Venture Partners) acted as lead placement agent for
the private placement.
The offer and sale of the foregoing securities
were made in a private placement pursuant to an exemption from
registration under the Securities Act of 1933, as amended (the
“Securities Act”), and such securities have not been registered
under the Securities Act or applicable state securities laws. The
securities may not be offered or sold in the United States except
pursuant to an effective registration statement or an applicable
exemption from the registration requirements of the Securities Act
and applicable state securities laws. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
any securities, nor shall there be any sale of any such securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.
About Entera Bio
Entera is a clinical stage company focused on
developing oral peptide or protein replacement therapies for
significant unmet medical needs where an oral tablet form holds the
potential to transform the standard of care. The Company leverages
on a disruptive and proprietary technology platform and its
pipeline includes five differentiated, first-in-class oral peptide
programs, expected to enter into the clinic (Phase 1 to Phase 3) by
2025. The Company’s most advanced product candidate, EB613 (oral
PTH (1-34), teriparatide), is being developed as the first oral,
osteoanabolic (bone building) once-daily tablet treatment for
post-menopausal women with low BMD and high-risk osteoporosis, with
no prior fracture. A placebo controlled, dose ranging Phase 2 study
of EB613 tablets (n= 161) met primary (PD/bone turnover biomarker)
and secondary endpoints (BMD). Entera is preparing to initiate a
Phase 3 registrational study for EB613. The EB612 program is being
developed as the first oral PTH (1-34) tablet peptide replacement
therapy for hypoparathyroidism. Entera is also developing the first
oral oxyntomodulin, a dual targeted GLP1/glucagon peptide, in
tablet form for the treatment of obesity; and first oral GLP-2
peptide tablet as an injection-free alternative for patients
suffering from rare malabsorption conditions such as short bowel
syndrome in collaboration with OPKO Health. For more information on
Entera Bio, visit www.enterabio.com
Cautionary Statement Regarding Forward
Looking Statements
Various statements in this press release are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements (other
than statements of historical facts) in this press release
regarding our prospects, plans, financial position, business
strategy and expected financial and operational results may
constitute forward-looking statements. Words such as, but not
limited to, “anticipate,” “believe,” “can,” “could,” “expect,”
“estimate,” “design,” “goal,” “intend,” “may,” “might,”
“objective,” “plan,” “predict,” “project,” “target,” “likely,”
“should,” “will,” and “would,” or the negative of these terms and
similar expressions or words, identify forward-looking statements.
Forward-looking statements are based upon current expectations that
involve risks, changes in circumstances, assumptions and
uncertainties. Forward-looking statements should not be read as a
guarantee of future performance or results and may not be accurate
indications of when such performance or results will be
achieved.
Important factors that could cause actual
results to differ materially from those reflected in Entera’s
forward-looking statements include, among others: changes in the
interpretation of clinical data; results of our clinical trials;
the FDA’s interpretation and review of our results from and
analysis of our clinical trials; unexpected changes in our ongoing
and planned preclinical development and clinical trials, the timing
of and our ability to make regulatory filings and obtain and
maintain regulatory approvals for our product candidates; the
potential disruption and delay of manufacturing supply chains; loss
of available workforce resources, either by Entera or its
collaboration and laboratory partners; impacts to research and
development or clinical activities that Entera may be contractually
obligated to provide; overall regulatory timelines; the size and
growth of the potential markets for our product candidates; the
scope, progress and costs of developing Entera’s product
candidates; Entera’s reliance on third parties to conduct its
clinical trials; Entera’s expectations regarding licensing,
business transactions and strategic collaborations; Entera’s
operation as a development stage company with limited operating
history; Entera’s ability to continue as a going concern absent
access to sources of liquidity; Entera’s ability to obtain and
maintain regulatory approval for any of its product candidates;
Entera’s ability to comply with Nasdaq’s minimum listing standards
and other matters related to compliance with the requirements of
being a public company in the United States; Entera’s intellectual
property position and its ability to protect its intellectual
property; and other factors that are described in the “Cautionary
Statements Regarding Forward-Looking Statements,” “Risk Factors”
and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” sections of Entera’s most recent Annual
Report on Form 10-K filed with the SEC, as well as the company’s
subsequently filed Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K. There can be no assurance that the actual
results or developments anticipated by Entera will be realized or,
even if substantially realized, that they will have the expected
consequences to, or effects on, Entera. Therefore, no assurance can
be given that the outcomes stated or implied in such
forward-looking statements and estimates will be achieved. Entera
cautions investors not to rely on the forward-looking statements
Entera makes in this press release. The information in this press
release is provided only as of the date of this press release, and
Entera undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, except to the extent required by
law.
Contact:
Entera Bio:
Ms. Miranda Toledano
Chief Executive Officer
Entera Bio
Email: miranda@enterabio.com
Entera Bio (NASDAQ:ENTX)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Entera Bio (NASDAQ:ENTX)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024