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olivLaw · US equity research

Entera Bio Ltd. ENTX

Biological Products, (No Diagnostic Substances) · SIC 2836 · Vertical: Biological Products, (No Diagnostic Substances) (SIC 2836)

3.14USD+5.02% · 1 dayClose 06 Nov 2026

Entera Bio develops oral tablets of peptides and protein therapies, with EB613, an oral bone-building tablet for osteoporosis, as its most advanced candidate. In 2026 the company secured funding for its Phase 3 study through a private placement of roughly 275.0 million USD, after a history of losses and doubts about its ability to continue operating.

At the close of 06 Nov 2026, Entera Bio Ltd. (ENTX) stock was 3.14 USD (+5.02% on the day), with market capitalisation 543.7 m USD, P/E 14.5 on diluted EPS of 0.22 USD over the last 12 months, beta 0.67, 52-week range 1.00–3.92 USD. Latest reported quarter (Q2 2026): revenue of 0 USD, net income of -7.3 m USD, diluted EPS 0.14 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
543.7 m USD
shares as of 03 Aug 2026
P/E (TTM)
14.5
Diluted EPS TTM 0.22 · TTM to 30 Jun 2026
E/P (TTM)
6.88%
TTM to 30 Jun 2026
Dividend yield
unavailable
Beta (2y)
0.67
Volatility (1y) 109%
52-week range
1.003.92

Price history

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Technical reading

RSI (14)
58.1
strong (55–70)
Bollinger (20, 2)
2.52 – 3.35
in the upper half of the band · %B 0.74 · band width 28.1%
SMA 50 / 200
2.88 / 1.94
uptrend (price > SMA50 > SMA200)
MACD (12, 26, 9)
0.08 / 0.07
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+25.1%−5.9%+31.0 pp—
3 months+9.4%−4.6%+14.0 pp—
6 months+141.5%+0.2%+141.3 pp—
Year to date+61.9%+7.4%+54.4 pp—
1 year+1.0%+8.2%−7.2 pp−8.6%
3 years+405.6%+68.4%+337.2 pp−12.8%
5 years−23.4%+56.5%−80.0 pp—
Max drawdown (1y)
−68.2%
07 Nov 2025 → 30 Mar 2026
Max drawdown (5y)
−87.7%
08 Nov 2021 → 11 Nov 2022
Compound annual growth (5y)
−5.2%
S&P 500 +9.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
0 USD
unavailable YoY
Net income
-7.3 m USD
unavailable YoY
Diluted EPS
0.14
+133.3% YoY
net / operating
unavailable / unavailable

Quarterly margins

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue42.0 k82.0 k42.0 k00000
Cost of revenue42.0 k82.0 k42.0 k00000
Gross profit00000000
Research & development1.5 m1.2 m1.1 m1.5 m1.6 m1.7 m2.3 m3.2 m
SG&A62.0 k96.0 k123.0 k103.0 k122.0 k54.0 k128.0 k124.0 k
Operating income-3.0 m-2.3 m-2.6 m-2.7 m-3.3 m-3.0 m-3.5 m-4.6 m
Pre-tax income-3.0 m-2.3 m——————
Income tax014.0 k——————
Net income-3.0 m-2.4 m-2.6 m-2.7 m-3.2 m-3.0 m-3.5 m-7.3 m
Diluted EPS0.08-0.06 ≈0.060.060.07-0.06 ≈0.070.14
Operating cash flow-2.2 m ≈-1.5 m-1.4 m-1.6 m ≈-2.5 m ≈-1.8 m-3.1 m-3.5 m ≈
Capex0 ≈3.0 k8.0 k29.0 k ≈43.0 k ≈27.0 k03.0 k ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 72 percentile of its own 18-quarter history (min 3.0, median 10.0, max 16.3; quarters with earnings only).

Fiscal years

Fiscal year20182019⚠ 202020212022202320242025
Revenue500.0 k236.0 k365.0 k571.0 k134.0 k0181.0 k42.0 k
Revenue YoYunavailable−52.8%—+56.4%−76.5%−100.0%unavailable−76.8%
Net income-10.3 m-10.8 m-11.2 m-12.2 m-13.1 m-8.9 m-9.5 m-11.4 m
Net income YoYunavailableunavailable—unavailableunavailableunavailableunavailableunavailable
Diluted EPS1.310.890.550.470.450.310.250.25
Diluted EPS YoY−47.4%−32.1%—−14.5%−4.3%−31.1%−19.4%0.0%
net %-2,060.8%-4,574.2%-3,072.9%-2,134.3%-9,754.5%unavailable-5,271.3%-27,235.7%
Free cash flow-9.9 m-9.0 m-10.6 m-9.1 m-12.5 m-7.3 m-6.8 m-7.5 m

The series breaks before 2020: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
7.1 m USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
13.1 m USD
Total assets
16.0 m USD
Debt / equity
unavailable
Current ratio
6.94x
ROE
-108.0%
ROA
-90.1%
FCF margin
-17,802.4%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
0
2024
181.0 k
2025
42.0 k

SEC (XBRL)· 27 Mar 2026verified

Cost of revenue
2023
0
2024
172.0 k
2025
42.0 k

SEC (XBRL)· 27 Mar 2026verified

Gross profit
2023
0
2024
9.0 k
2025
0

SEC (XBRL)· 27 Mar 2026verified

Research & development
2023
4.5 m
2024
4.5 m
2025
6.0 m

SEC (XBRL)· 27 Mar 2026verified

SG&A
2023
—
2024
340.0 k
2025
398.0 k

SEC (XBRL)· 27 Mar 2026verified

Operating income
2023
-8.9 m
2024
-9.6 m
2025
-11.5 m

SEC (XBRL)· 27 Mar 2026verified

Depreciation & amortisation
2023
—
2024
—
2025
—

SEC (XBRL)· 18 Mar 2021verified

EBITDA
2023
—
2024
—
2025
—

SEC (XBRL)· 08 Mar 2022derived

Pre-tax income
2023
-8.9 m
2024
-9.5 m
2025
-11.4 m

SEC (XBRL)· 27 Mar 2026verified

Income tax
2023
29.0 k
2024
14.0 k
2025
0

SEC (XBRL)· 27 Mar 2026verified

Net income
2023
-8.9 m
2024
-9.5 m
2025
-11.4 m

SEC (XBRL)· 27 Mar 2026verified

Diluted EPS
2023
0.31
2024
0.25
2025
0.25

SEC (XBRL)· 27 Mar 2026verified

Weighted average diluted shares
2023
29.0 m
2024
37.7 m
2025
46.2 m

SEC (XBRL)· 27 Mar 2026verified

Balance sheet · USD

Cash
2023
11.0 m
2024
8.7 m
2025
7.1 m

SEC (XBRL)· 27 Mar 2026verified

Receivables
2023
0
2024
126.0 k
2025
0

SEC (XBRL)· 27 Mar 2026verified

Current assets
2023
11.3 m
2024
9.0 m
2025
15.3 m

SEC (XBRL)· 27 Mar 2026verified

Property, plant & equipment, net
2023
100.0 k
2024
57.0 k
2025
134.0 k

SEC (XBRL)· 27 Mar 2026verified

Intangibles (excl. goodwill)
2023
—
2024
—
2025
—

SEC (XBRL)· 18 Mar 2021verified

Total assets
2023
11.8 m
2024
9.4 m
2025
16.0 m

SEC (XBRL)· 27 Mar 2026verified

Accounts payable
2023
83.0 k
2024
132.0 k
2025
448.0 k

SEC (XBRL)· 27 Mar 2026verified

Current liabilities
2023
1.1 m
2024
1.2 m
2025
2.2 m

SEC (XBRL)· 27 Mar 2026verified

Total liabilities
2023
1.4 m
2024
1.3 m
2025
2.9 m

SEC (XBRL)· 27 Mar 2026verified

Equity
2023
10.4 m †
2024
8.1 m †
2025
13.1 m †

SEC (XBRL)· 27 Mar 2026verified

Shares outstanding at year end
2023
—
2024
—
2025
—

SEC (XBRL)· 18 Mar 2021verified

Cash flow · USD

Operating cash flow
2023
-7.3 m
2024
-6.8 m
2025
-7.4 m

SEC (XBRL)· 27 Mar 2026verified

Capex
2023
17.0 k
2024
3.0 k
2025
107.0 k

SEC (XBRL)· 27 Mar 2026verified

Free cash flow
2023
-7.3 m ≈
2024
-6.8 m ≈
2025
-7.5 m ≈

SEC (XBRL)· 27 Mar 2026derived

Investing cash flow
2023
-17.0 k
2024
-3.0 k
2025
-107.0 k

SEC (XBRL)· 27 Mar 2026verified

Financing cash flow
2023
6.0 m
2024
4.5 m
2025
13.7 m

SEC (XBRL)· 27 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
-76.8%
computed by olivLawFY 2025
Revenue CAGR 3Y
-32.1%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
-35.1%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
0.0%
computed by olivLawFY 2025
EPS CAGR 3Y
-17.8%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
-14.6%
computed by olivLawFY 2020 → FY 2025
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
unavailable
insufficient data
EBITDA margin
unavailable
input data missing
EBIT margin
unavailable
insufficient data
Net margin
unavailable
insufficient data
FCF margin
unavailable
insufficient data

Returns

ROE
-138.9%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROA
-87.0%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
input data missing
ROCE
-82.9%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
9.0x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
unavailable
input data missing
Cash ratio
5.4x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
-10.9 m USD
computed by olivLawTTM to 30 Jun 2026
Capital expenditure
73.0 k USD
computed by olivLawTTM to 30 Jun 2026
Free cash flow
-11.0 m USD
computed by olivLawTTM to 30 Jun 2026
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
insufficient data
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
543.7 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
14.5x
computed by olivLawTTM to 30 Jun 2026
Earnings yield
6.9%
computed by olivLawTTM to 30 Jun 2026
P/B
74.8x
computed by olivLawbalance sheet at 30 Jun 2026
P/S
unavailable
insufficient data
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-2.0%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 5 of at least 6
  • score weight coverage: 39.6% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

3.14 USD

06 Nov 2026Source: olivLaw, closing series

Market cap: 543.7 m USD

Key indicators

Market capitalisation
543.7 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
14.5x
computed by olivLawTTM to 30 Jun 2026
P/B
74.8x
computed by olivLawbalance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
ROE
-138.9%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Net margin
unavailable
insufficient data
Revenue growth (YoY)
-76.8%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

29/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 03 Aug 2026
Source: SEC (XBRL)published 07 Aug 2026
verified 790derived 60

Score by group

40% · Insufficient data

Estimated value range

Low
4.22
USD per share
Mid
5.10
USD per share
High
7.72
USD per share
Price: 3.14 USD
The price is below the range
Potential to the central value: 62.6% (value / price − 1)
Margin of safety: 38.5% (1 − price / value)
Agreement between methods: single method · 1 methods used · 1 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.22 – 7.72 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/E4.22 – 7.72 (Mid 5.10)
    4 companies used · median multiple 23.6x · quartiles 19.5x – 35.7x
    ADMA, AMGN, EXEL, TECH
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Multiple comparisons use the SIC vertical: Biological Products, (No Diagnostic Substances) (SIC 2836)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 39.6% of at least 60%

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Qualityunavailableunavailable—
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth-32.1%0 (on a fixed band)21%
EPS CAGR 3Y · Growth-17.8%0 (on a fixed band)21%
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheetunavailableunavailable—
Current ratio · Balance sheet9.0x100 (on a fixed band)11%
P/E (TTM) · Valuation14.5x100 (vs peers)26%
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation-2.0%0 (on a fixed band)21%
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial100/100 · 1/3 factors with a value
  • Growth0/100 · 2/2 factors with a value
  • Quality· partialunavailable · 0/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation56/100 · 2/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

ENTERA BIO LTD. (ENTX). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 42.0 k USD in 2025; YoY growth -76.8%; ROE -138.9%.

The estimated value range is 4.22–7.72 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 5.10 USD, the price of 3.14 USD leaves a potential of 62.6% (value / price − 1) and a margin of safety of 38.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 39.6% of at least 60%).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Current ratio: 9.0x
  • P/E (TTM): 14.5x
  • The price is below the estimated value range

What contradicts it

  • Revenue CAGR 3Y: -32.1%
  • EPS CAGR 3Y: -17.8%
  • FCF yield: -2.0%

Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Net debt / EBITDA, Interest coverage, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Biological Products, (No Diagnostic Substances) (SIC 2836) · same industry (4-digit SIC) · compared with 39 companies

Multiples and returns vs the median

P/E
14.5x
vertical median 26.7x
below median (−45.6%)
EV/EBITDA
—
vertical median —
P/S
—
vertical median 9.6x
P/B
74.8x
vertical median 3.5x
above median (+2,023.7%)
ROE
-138.9%
vertical median -45.4%
below median
Net margin
—
vertical median -127.6%
EBIT margin
—
vertical median -133.4%
Revenue YoY
-76.8%
vertical median 2.4%
below median (−3,304.9%)
Net debt/EBITDA
—
vertical median —
Dividend yield
—
vertical median 1.2%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
AMGNAmgen Inc.249.0 bn26.778.4%24.1%+10.0%+33% / +71%
GILDGilead Sciences, Inc.207.8 bn—-22.3%-12.5%+2.4%+33% / +119%
MRNAModerna, Inc.96.4 bn—-39.0%-141.4%−39.9%+829% / +211%
RVMDRevolution Medicines, Inc.38.4 bn—-93.6%-946.8%unavailable+128% / +661%
BIIBBiogen Inc.36.1 bn104.31.9%3.4%+2.2%+34% / +4%
EXELExelixis, Inc.16.8 bn20.544.3%35.5%+7.0%+56% / +215%
TECHBio-Techne Corp11.4 bn62.79.0%15.0%−0.4%+13% / +16%
TWSTTwist Bioscience Corporation7.6 bn—-29.6%-31.7%+20.3%+277% / +402%
SCNIScinai Immunotherapeutics Ltd.6.1 bn—-91.9%-633.6%+99.2%−96% / −99%
SRRKScholar Rock Holding Corporation5.7 bn—-167.8%—unavailable+7% / +273%
ADPTAdaptive Biotechnologies Corporation4.5 bn—-37.1%-23.7%+54.8%+42% / +539%
IOVAIovance Biotherapeutics, Inc.3.7 bn—-29.1%-58.2%+60.6%+226% / +32%
ADMAAdma Biologics, Inc.2.8 bn16.541.9%35.1%+19.6%−34% / +244%
VIRVir Biotechnology, Inc.2.1 bn—-21.8%-61.0%−7.6%+90% / +29%
TSHATaysha Gene Therapies, Inc.1.4 bn—-47.1%-2,728.0%+17.3%−9% / +146%
EVAXEvaxion A1.3 bn—-100.2%-102.4%+125.1%−49% / −92%
DNAGinkgo Bioworks Holdings, Inc.719.3 m—-56.3%-260.0%−25.1%+22% / −78%
ATYRaTYR PHARMA INC622.9 m—-98.4%-32,003.7%−19.1%+713% / +388%
FDMT4D Molecular Therapeutics, Inc.609.8 m—-43.3%-194.7%+230,194.6%+5% / −4%
ENTXEntera Bio Ltd.543.7 m14.5-138.9%—−76.8%+1% / +406%
RGNXREGENXBIO Inc.503.9 m—-113.2%-113.9%+104.5%−43% / −61%
ALLOAllogene Therapeutics, Inc.359.3 m—-42.4%-3,566.7%−100.0%−29% / −56%
FATEFate Therapeutics Inc223.1 m—-67.8%-2,619.6%−51.2%+61% / −26%
IKTInhibikase Therapeutics, Inc.209.3 m—-52.0%—−100.0%−1% / +60%
ARTVArtiva Biotherapeutics, Inc.202.9 m—-36.6%—−100.0%+10% / unavailable

1- and 3-year price returns: for ENTX from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Scenarios are not available. input data missing

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

In brief

Entera Bio develops oral tablets of peptides and protein therapies, with EB613, an oral bone-building tablet for osteoporosis, as its most advanced candidate. In 2026 the company secured funding for its Phase 3 study through a private placement of roughly 275.0 million USD, after a history of losses and doubts about its ability to continue operating.

SWOT

Strengths

  • The N-Tab platform enables oral delivery of large peptides, which is the company's central capability 1.
  • EB613 has a broad nonclinical and clinical package, including comparative studies with Forteo 1.
  • A major private financing in 2026 significantly extended the funding runway 3.

Weaknesses

  • The company has incurred losses every year since inception and carries a large accumulated deficit 1.
  • The auditor has expressed doubt about the going concern assumption 1.
  • Most programs are at early stages and have not yet shown efficacy in Phase 3 studies 1.

Opportunities

  • If the Phase 3 study confirms efficacy, EB613 could open a market for oral anabolic osteoporosis treatment 13.
  • The OPKO collaboration could accelerate the EB612 and EB618 programs 13.
  • BMD qualification as a surrogate endpoint could shorten future studies 1.

Threats

  • Failure of a Phase 3 study could seriously reduce the value of the whole portfolio 1.
  • Competition from injectables or other oral peptides could limit adoption 1.
  • Regulatory risks and study delays could affect the planned timeline 12.

Risks

  • Going concernhigh

    The auditor has expressed substantial doubt about the company's ability to continue operating, and this remains a central risk for investors.

  • Funding dependencehigh

    The Phase 3 program depends on funding secured in 2026, and any delay could postpone the study.

  • Phase 3 outcomehigh

    The study with BMD as primary endpoint could fail to confirm efficacy or fail to gain FDA acceptance.

  • Dependence on OPKOmedium

    The EB612 and EB618 programs depend on the OPKO collaboration, and timelines and cost sharing could change.

  • Dilutionmedium

    Financing through shares and warrants could significantly dilute existing shareholders.

Investment thesis

What would need to be true (bull case)

  • If EB613 shows BMD gains in Phase 3 comparable to injectable treatments, the company could become the first with an oral anabolic for osteoporosis.
  • Funding of about 275 million USD could cover the main program through NDA submission and extend the runway into 2030 3.
  • The N-Tab platform could generate more programs, and the OPKO collaboration could share costs.

What would break the thesis

  • The company has no significant revenue and has accumulated losses over many years, and the auditor has flagged doubt about going concern 1.
  • Failure of the Phase 3 study or a rejection of the filing could seriously affect the whole portfolio.
  • Dilution from private placements and warrants could reduce the value of existing shares.

What to watch

  • Start of the EB613 Phase 3 studylate 2026
  • Filing of the EB612 IND applicationfirst half 2027
  • Topline results of the EB613 Phase 3 studysecond half 2028
  • Update on the funding runway and going concern assessmentnext 10-K

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

The business

Net losses were 11.4 million USD in 2025 and 9.5 million USD in 2024, and the accumulated deficit reached 125.4 million USD as of December 31, 2025 1. The independent auditor expressed substantial doubt about the company's ability to continue as a going concern 1. For the quarter ended June 30, 2026, the net loss was 7.3 million USD, partly due to a non-cash remeasurement of 2.7 million USD on pre-funded warrants 3.

After quarter end, the company announced a private placement of about 275.0 million USD led by BVF, intended to fund the EB613 Phase 3 program through NDA submission and extend the cash runway into 2030 3. As of June 30, 2026, cash and cash equivalents were 11.3 million USD and restricted cash, mainly designated for the OPKO collaboration, was 7.1 million USD 3.

Segments

EB618 and oral GLP-2

EB618 is an oral oxyntomodulin analog with dual GLP-1/glucagon action, developed with OPKO for obesity and metabolic disorders, with clinical development to be evaluated after OPKO's Phase 1 studies 13. The oral GLP-2 program targets short bowel syndrome, a rare condition, and is at an early stage 1.

Market context

Osteoporosis is a growing public health issue, causing over two million fractures annually in the United States 1. Total medical costs of osteoporotic fractures are projected to rise from 57 billion USD in 2018 to 95 billion USD by 2040, largely due to population aging 1. Existing anabolic treatments are injectable and used in a minority of very high-risk patients 1.

Short bowel syndrome affects approximately 30,000 patients across the United States and EU, and daily injections create a barrier to adherence 1. The market for hypoparathyroidism is small, but could need oral alternatives if clinical evidence is confirmed 1.

Trends

  • BMD qualified as a surrogate endpointtailwind

    In December 2025 the FDA qualified total hip BMD as a surrogate efficacy endpoint for fracture, which could speed future studies 1. If the approach holds, study cost and duration could fall.

  • Interest in oral peptidestailwind

    Oral peptides are attracting attention, and Entera points to the lack of oral treatments for chronic conditions 1. This trend could attract partners and funding.

  • Reliance on external fundingheadwind

    The company needs additional capital and now depends on the July 2026 placement 13. If funding were delayed, the study timeline could be affected.

  • Rising development costsmixed

    Research expenses rose in 2026 as the company prepared the Phase 3 study and OPKO activities 3. If this increase continues, losses could remain large.

Competitive position

Entera is compared with injectable anabolic osteoporosis treatments such as Forteo, and with other oral peptides or long-acting injectables for SBS and hypoparathyroidism 1. The source texts also name competitors such as Ascendis Pharma, Zealand Pharma and Ironwood 1.

The company's stated advantage is that an oral tablet could be preferred to daily injections, but this has not been proven commercially 1. Eli Lilly, which markets Forteo, remains an important reference point for EB613 1.

  • Eli Lilly (Forteo)LLY

    Markets injectable teriparatide, directly compared with EB613 in the company's studies.

  • Ascendis Pharma (YORVIPATH)

    Daily injectable treatment for hypoparathyroidism, the only approved one named in the source.

  • Zealand Pharma

    Develops long-acting GLP-2 therapies given by weekly injection for SBS.

  • Ironwood

    Develops, with Zealand Pharma, GLP-2 therapies given by weekly injection for SBS.

News & filings

In the press

The latest news item in our archive is from 22 Jun 2026; the newest SEC filing is from 27 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

  • Current report27 Oct 2026
    Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
  • Proxy statement14 Oct 2026
  • Current report06 Oct 2026
    Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
  • Current report18 Aug 2026
    Regulation FD disclosure · Other events · Financial statements and exhibits
  • Quarterly report07 Aug 2026
  • Current report07 Aug 2026
    Results of operations · Regulation FD disclosure · Financial statements and exhibits
  • Current report28 Jul 2026
    Material agreement · Item 3.02 · Departure or appointment of officers · Financial statements and exhibits
  • Current report16 Jul 2026
    Departure or appointment of officers · Amendments to articles or bylaws · Shareholder vote · Financial statements and exhibits
  • Proxy statement03 Jun 2026
  • Quarterly report08 May 2026

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Entera Bio Ltd. · 27 Mar 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Entera Bio Ltd. · 07 Aug 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Entera Bio Ltd. · 07 Aug 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.