Company: ENTXW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001178913-25-003852
Chunk: 28

Company: Entera Bio Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 28
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Since inception, we have incurred significant losses from operations, negative cash flows from operating activities and lack of liquidity. For the three months ended September 30, 2025 and 2024, our operating losses were $3.3 million and $3.0 million, respectively. For the nine months ended September 30, 2025 and 2024, our operating losses were $8.5 million and $7.2 million, respectively. As of September 30, 2025, we had an accumulated deficit of $122.4 million. We expect to continue to incur significant expenses and losses for the next several years as we advance our product candidates through development and provide administrative support for our operations. These factors raise substantial doubt about our ability to continue as a going concern. Given our current plans, we believe that our existing cash resources will be sufficient to meet our projected operating requirements through the middle of the third quarter of 2026 without additional funding, excluding the initiation of Phase 3 program of EB613 in osteoporosis.

From our inception through September 30, 2025, we have raised a total of $111.4 million, including $36.3 million through at-the-market-offering (“ATM”) programs, an aggregate of $28.9 million in private placements since our IPO, $11.2 million in our IPO in 2018 and $35.0 million in aggregate funding from a combination of IIA grants, exercise of options and warrants and private placements of Ordinary Shares, preferred shares and debt prior to our IPO.

As of September 30, 2025, we had cash and cash equivalents and restricted cash of $16.6 million, of which $8.0 million has been designated to fund our obligations under the 2025 Collaboration Agreement. Our primary uses of cash have been to fund research and clinical development, general and administrative expenses and working capital requirements, and we expect these will continue to be our primary uses of cash.

Equity Offerings

On September 2, 2022, we entered into a Sales Agreement with Leerink Partners LLC (f/k/a SVB Securities LLC), as sales agent, to implement an ATM program (the “Leerink ATM Program”) under which we were originally able to sell up to 5,000,000 Ordinary Shares under our currently effective Registration Statement on Form S-3 and a related prospectus supplement forming a part thereof. The sales agent is entitled to a fixed commission of 3% of