Company: ENTXW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001178913-25-001674
Chunk: 6

Company: Entera Bio Ltd.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
 additional equity in the Company or otherwise take certain other actions, in each case without the Company’s consent.
           
          The Company has agreed to use the proceeds from the sale of the foregoing ordinary shares solely to fund its development cost obligations under the 2025 Collaboration Agreement, and has entered an escrow arrangement, together with OPKO and an escrow agent, into which such proceeds in an amount of $8,000 have been deposited. Such proceeds are and presented under restricted cash in the condensed consolidated balance sheet and will be disbursed to fund such development costs.  If the 2025 Collaboration Agreement expires or is terminated for any reason, any funds remaining in such escrow will be disbursed to the Company.
           
          The Company determined that the 2025 Collaboration Agreement is a collaboration agreement under the scope of ASC 808, as the parties thereto are active participants and exposed to the risks and rewards of the collaborative activity.
           
          The consideration received for the ordinary shares issued to OPKO under the 2025 Collaboration Agreement was allocated to the collaboration component of such and the equity component. The Company recognized as equity the fair value of the ordinary shares issued to OPKO net of issuance costs (issuance costs of $75) based on the fair value of the Company's ordinary shares as of the market close on the agreement date. The remaining consideration was allocated to the collaboration component and presented under current other payables (an amount of $295) and Other long-term liabilities (an amount of $515) in the condensed consolidated balance sheet and will be recognized as the program is performed.

          NOTE 6 - SUBSEQUENT EVENTS

                  a.
                  
                    In April 2025, the Chairman of the board of directors exercised warrants for an aggregate of 23,952 ordinary shares for a total consideration of $24.

                    b.

                        On April 28, 2025, the board of directors approved the following options grants:

                    i.

                        options to purchase an aggregate of 954,000 ordinary shares were granted to employees, consultants and an executive officer with an exercise price of $2.28 per share which was the closing share price on the grant date; and

                  ii.
                  
                    options to purchase an aggregate of 830,000 ordinary shares were granted to several executive officers with an exercise price of $2.28 per share which was the closing share price on the grant date. These grants are subject to shareholders' approval.

            These options vest over three years