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Entera Bio Ltd. (ENTX+2.50%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing revenues of $42,000 from research services, with a cost of revenues also at $42,000, resulting in no gross profit.
Research and development expenses for the quarter were $1.5 million, compared to $1.4 million in the same quarter of the previous year, attributed to increased material costs for the EB613 phase 3 study preparation.
General and administrative expenses increased to $1.5 million from $1.0 million, mainly due to higher intellectual property costs and consultant fees.
Net loss for the quarter was $3.0 million, up from $2.4 million in the previous year, with no financial income recognized compared to $36,000 in the previous year.
For the nine months ended September 30, 2024, Entera reported revenues of $99,000, with a net loss of $7.2 million, slightly higher than the $6.9 million loss in the same period of the previous year.
Cash and cash equivalents as of September 30, 2024, were $6.9 million, with the company projecting sufficient funds to continue operations into the third quarter of 2025.
Entera Bio Ltd. continues to focus on developing oral tablet formats of peptides, with its most advanced product candidate, EB613, targeting osteoporosis.
The company is also collaborating with OPKO Biologics (OPK-0.67%) on oral GLP-2 and GLP-1/Glucagon programs.
Entera Bio Ltd. acknowledges the geopolitical risks due to the ongoing Israel-Hamas conflict but reports no material impact on its operations to date.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Entera Bio Ltd. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.