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Entero Therapeutics Inc. (ENTO+1.31%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing Adrulipase, a recombinant lipase enzyme for treating exocrine pancreatic insufficiency in cystic fibrosis and chronic pancreatitis patients. Entero has discontinued its programs for Latiglutenase, Capeserod, and Niclosamide.
In March 2024, Entero completed a merger with ImmunogenX, Inc., acquiring the biologic Latiglutenase for celiac disease treatment. However, a rescission agreement was entered in March 2025, intending to unwind this merger, subject to shareholder approval.
Entero reported a net loss of $18,059,336 for the year ended December 31, 2024, compared to a net loss of $15,794,983 in the previous year. Research and development expenses decreased to $903,941 from $5,033,218, while general and administrative expenses increased to $14,717,333 from $10,737,609.
The company is addressing Nasdaq listing compliance issues, having received extensions to regain compliance with minimum bid price requirements. Entero has also entered into a revolving loan agreement to secure additional funding.
Entero's future plans include advancing the Adrulipase program with the intent to initiate a Phase 2b clinical trial in the second half of 2025.
The filing outlines the company's reliance on third-party manufacturers and the risks associated with its level of indebtedness, which could impact its ability to implement its business plan.
Entero's management acknowledges the challenges posed by geopolitical risks, market volatility, and regulatory compliance, which could affect its financial condition and results of operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Entero Therapeutics Inc. annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.