ENTERA BIO LTD.
(Registrant)
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By:
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/s/ Dr. Roger Garceau
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Name: Roger Garceau
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Title: Chief Executive Officer
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•
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Completed Enrollment with 161
Subjects Randomized in the Phase 2 Study of EB613 in Osteoporosis: EB613 is an orally delivered, human parathyroid hormone (1-34) (PTH) and is positioned as the first potential, oral bone building product to treat osteoporosis. The
Phase 2 clinical trial is a dose-ranging, placebo-controlled, study in postmenopausal female subjects with osteoporosis, or low BMD. This trial is being conducted at four leading medical centers in Israel and had an initial target
enrollment of 160 subjects. Based on the 3-month interim biochemical marker and safety data from the first 80 subjects randomized, the Phase 2 protocol was amended in third quarter to discontinue the two lower doses of EB613 (0.5 mg and 1.0
mg) and add a 2.5 mg dose.
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•
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Positive Interim Data in
Phase 2 Clinical Trial of EB613 in Osteoporosis: During the third quarter, Entera announced 6-month interim biomarker and BMD data from the first 50%, or 80 patients, enrolled in its Phase 2 clinical trial of EB613. The data
indicate EB613 has a meaningful and positive impact on lumbar spine BMD in a dose dependent manner. EB613 generated a mean placebo adjusted increase in lumbar spine BMD of 2.15% (p = 0.08) for the 14 patients in the 1.5 mg treatment arm, as
compared to the 16 patients in the placebo arm. The placebo-adjusted increase was comprised of a mean BMD increase of 1.44% in the 1.5 mg treatment arm compared to a mean decrease of 0.71% in the placebo arm. An additional analysis of BMD
changes in the three lower EB613 treatment groups (0.5 mg, 1.0 mg and 1.5 mg) showed a significant dose-dependent trend in the percentage change in lumbar spine BMD. The dose response was supportive of Entera’s decision to include a higher
2.5 mg dose in the trial to potentially increase efficacy.
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•
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Continued Pipeline
Development: Entera is identifying new targets for preclinical development based on its oral drug delivery platform, as well as developing optimal formulations for EB612 in preparation for a potential Phase 2b or Phase 3 study in
hypoparathyroidism in 2021 or 2022. Entera has previously completed one successful Phase 2a study of EB612 in this indication.
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•
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Amgen Collaboration
Agreement: Several studies have been completed using Entera’s technology to evaluate different formulations of Amgen’s drug. In addition to its collaboration with Amgen, Entera is actively evaluating additional business development
opportunities with other pharmaceutical companies.
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Nine months ended
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Three months ended
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September 30
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September 30
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|||||||||||||||
2020
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2019
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2020
|
2019
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|||||||||||||
REVENUE
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$
|
144
|
$
|
134
|
$
|
50
|
$
|
60
|
||||||||
COST OF REVENUE
|
104
|
102
|
31
|
40
|
||||||||||||
RESEARCH AND DEVELOPMENT EXPENSES, NET
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5,222
|
5,234
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1,606
|
1,786
|
||||||||||||
GENERAL AND ADMINISTRATIVE EXPENSES
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3,656
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2,757
|
829
|
1,073
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||||||||||||
OPERATING LOSS
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8,838
|
7,959
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2,416
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2,839
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||||||||||||
FINANCIAL INCOME:
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||||||||||||||||
Income from change in fair value of financial liabilities at fair value
|
(1,123
|
)
|
(672
|
)
|
(805
|
)
|
122
|
|||||||||
Other financial expenses, net
|
17
|
68
|
13
|
33
|
||||||||||||
FINANCIAL
INCOME, NET
|
(1,106
|
)
|
(604
|
)
|
(792
|
)
|
155
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|||||||||
NET COMPREHENSIVE LOSS FOR THE PERIOD
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$
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7,732
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$
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7,355
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$
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1,624
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$
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2,994
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U.S. dollars
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U.S. dollars
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|||||||||||||||
LOSS PER
ORDINARY SHARE:
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||||||||||||||||
Basic and diluted
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$
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0.42
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$
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0.63
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$
|
0.09
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$
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0.25
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||||||||
WEIGHTED
AVERAGE NUMBER OF SHARES OUTSTANDING:
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||||||||||||||||
Basic and diluted
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18,204,684
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11,750,868
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18,329,561
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12,045,115
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September 30,
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December 31,
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|||||||
2020
|
2019
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|||||||
(Unaudited)
|
(Audited)
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|||||||
Cash and cash equivalents
|
$
|
7,068
|
$
|
15,185
|
||||
Accounts receivable and other current assets
|
722
|
451
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||||||
Property and equipment, net
|
207
|
202
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||||||
Other assets, net
|
783
|
865
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||||||
Total assets
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$
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8,780
|
$
|
16,703
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||||
Accounts payable and other current liabilities
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$
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1,371
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$
|
2,148
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||||
Warrant liabilities
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1,545
|
2,444
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||||||
Total current liabilities
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2,916
|
4,592
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||||||
Total Non-current liabilities
|
124
|
192
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||||||
Total shareholders’ equity
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5,740
|
11,919
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||||||
Total liabilities and shareholders’ equity
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$
|
8,780
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$
|
16,703
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