Entera Bio Ltd. reported its financial results for the nine months ended September 30, 2024, showing a significant increase in revenue compared to the previous year. The company generated revenues of $99,000 during this period, a notable rise from $0 in the same period of 2023. This revenue was primarily derived from a research services agreement with a third party.

Despite the increase in revenue, Entera Bio experienced a net loss of $7.2 million for the nine months ended September 30, 2024, compared to a net loss of $6.9 million for the same period in 2023. The loss per share for the nine-month period improved slightly to $0.19 from $0.24 in the previous year. For the three months ended September 30, 2024, the company reported a net loss of $3.0 million, consistent with the loss of $2.4 million in the same quarter of 2023.

Operating losses also increased, with $7.2 million reported for the nine months ended September 30, 2024, compared to $6.9 million in the prior year. The increase in operating loss for the three months ended September 30, 2024, was $3.0 million, up from $2.4 million in 2023. General and administrative expenses rose to $4.0 million for the nine-month period, up from $3.5 million in 2023.

As of September 30, 2024, Entera Bio's total equity decreased to $6.5 million from $11.8 million at the beginning of the year, reflecting the ongoing losses. The company had cash and cash equivalents of $6.9 million, which are expected to sustain operations into the third quarter of 2025. The accumulated deficit stood at $111.6 million.

Strategically, Entera Bio is focused on advancing its product candidates, particularly EB613, an oral PTH (1-34) tablet for osteoporosis, which is preparing for a Phase 3 study. The company is also exploring financing alternatives to support this study, as current capital resources are insufficient. Entera Bio has raised a total of $93.1 million since its inception, with recent funding efforts including proceeds from the Leerink ATM program.

The company has not reported any material impact from ongoing regional conflicts in Israel on its operations, as core activities remain unaffected. Entera Bio continues to evaluate its financing needs and potential strategic partnerships to support its research and development efforts.