ENTERA BIO LTD.
(Registrant)
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By:
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/s/ Spiros Jamas, Sc.D
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Name: Spiros Jamas, Sc.D
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Title: Chief Executive Officer and Director
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6-Month Bone Mineral Density (BMD) Results Show Dose-Related Efficacy: Final topline results from Entera’s Phase 2 clinical trial of EB613, an oral formulation of human parathyroid hormone (1-34)
or PTH positioned to be the first oral bone building (anabolic) product to treat osteoporosis patients, achieved its primary and key secondary endpoints. The most important BMD endpoint — change in lumbar spine BMD after 6 months — was met
in the double-blind, dose-ranging, placebo-controlled study in 161 postmenopausal female subjects with osteoporosis or with low BMD. Subjects receiving 2.5 mg of EB613 showed significant dose-related increases in BMD at the lumbar spine,
total hip, and femoral neck at 6 months with a placebo adjusted increase of 3.78% in lumbar spine BMD (p<0.008). EB613 also exhibited an excellent safety profile.
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Commenced Preparation for End of Phase 2 FDA Meeting: In the coming months, Entera plans to conduct an End of Phase 2 meeting with the FDA to review data and discuss EB613’s advancement into a
single pivotal 12-month head-to-head Phase 3 study for approval under a 505(b)(2) pathway. The study is designed to compare changes in lumbar spine BMD in patients treated with oral EB613 versus treatment with Forteo® injections (the
“reference drug”). This non-inferiority study will evaluate EB613’s effect on spine BMD within 25% that of Forteo’s or greater. Increases in lower spine BMD versus placebo observed at 6 months in previous Forteo® studies conducted with
similar patient populations, were in the 3.9% range.1
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Foundational Patent Received in Europe for Platform Technology: The European Patent Office granted a patent titled “Methods and Compositions for Oral Administration of Proteins” to Entera
addressing its oral PTH formulations currently in advanced clinical stages for osteoporosis and hypoparathyroidism. This patent, combined with others issued in key markets including the U.S., China, Japan, Australia, New Zealand, and
Israel, fortify Entera’s leadership position in the oral delivery of proteins.
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New Data on Oral Delivery of Human Growth Hormone Presented at European Pharma Congress: Entera delivered a poster presentation titled “Pharmacokinetics of an Oral Human Growth Hormone (hGH)
Formulation in Rats and Mice” at the 31st Annual European Pharma Congress in London. Prescription therapeutic hGH, which is currently only administered via subcutaneous injection, was a $3.7 billion market in 2020 and is expected to grow to
$8.5 billion by 2027. In a preclinical study, Entera’s hGH formulation was administered orally to mice and rats. Plasma samples analyzed showed substantial gastrointestinal absorption of the oral hGH formulation and significant systemic
exposure to the drug. An oral hGH may offer numerous advantages including greater patient compliance, reduced pain, longer shelf life, no injection site reactions, and lower immunogenicity.
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Robust Balance Sheet: Entera strengthened its balance sheet which currently has a cash position of over $26.9 million as of June 30, 2021 giving the Company an
expected cash runway into the fourth quarter of 2022, including the initial costs of the EB613 Phase 3 study which the Company hopes to initiate in the second quarter of 2022. As of August 8, 2021, we had cash and cash equivalents of
$28.1 million.
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June 30
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December 31
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|||||||
2021
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2020
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Unaudited
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Cash and cash equivalents
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26,926
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8,593
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Accounts receivable and other current assets
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979
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516
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Property and equipment, net
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168
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192
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Other assets, net
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866
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961
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Total assets
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28,939
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10,262
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Accounts payable and other current liabilities
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1,954
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1,841
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Warrants liabilities
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1,395
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1,432
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Total non-current liabilities
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275
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324
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Total shareholders’ equity
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25,315
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6,665
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Total liabilities and shareholders’ equity
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28,939
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10,262
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Six months ended
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June 30
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2021
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2020
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U.S. dollars in thousands
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REVENUE
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266
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94
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COST OF REVENUE
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121
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73
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RESEARCH AND DEVELOPMENT EXPENSES, net
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2,417
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3,616
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GENERAL AND ADMINISTRATIVE EXPENSES
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2,759
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2,827
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OTHER INCOME
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22
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-
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OPERATING LOSS
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5,009
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6,422
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FINANCIAL EXPENSES (INCOME):
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Loss from change in fair value of
financial liabilities at fair value |
9,530
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(318
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)
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Other financial income, net
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25
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4
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FINANCIAL EXPENSES, NET
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9,555
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(314
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)
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LOSS BEFORE TAXES
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14,654
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6,108
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TAXES ON INCOME
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78
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-
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NET COMPREHENSIVE LOSS FOR THE PERIOD
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14,462
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6,108
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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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0.63
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0.34
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WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING - |
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Basic and Diluted
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23,377,668
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18,142,016
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