Entera Bio Announces Pricing of Oversubscribed $275 Million Private Placement
Rhea-AI Summary
Entera Bio (NASDAQ: ENTX) entered a securities purchase agreement for an oversubscribed $275 million private placement, led by existing investor BVF Partners. The company will issue 122,961,215 ordinary shares and pre-funded warrants to purchase up to 11,842,695 ordinary shares at a purchase price of $2.04 per share or warrant (less the minimal exercise price per share for the warrants). The pre-funded warrants are immediately exercisable, have no expiration, and include beneficial ownership caps, with customary adjustments.
The placement, priced at-the-market under Nasdaq rules, is expected to close on or about July 28, 2026, subject to customary conditions. Upon closing, BVF will gain the right to designate two directors to Entera’s board, subject to standard eligibility requirements. According to Entera, net proceeds combined with existing cash are expected to fully fund Phase 3 registrational studies and a planned NDA submission for EB613 in osteoporosis, advance EB612 into Phase 1 for hypoparathyroidism in collaboration with OPKO Health, and support working capital and general corporate purposes. The company expects this financing to extend its cash runway into 2030.
Positive
- Gross proceeds ~$275 million from oversubscribed private placement
- 122,961,215 ordinary shares and 11,842,695 pre-funded warrants subscribed
- Runway expected into 2030 when combined with existing cash
- Phase 3 EB613 program and planned NDA submission expected to be fully funded
- EB612 advancement into Phase 1 funded in collaboration with OPKO Health
- BVF board designation rights for two directors upon closing
Negative
- Significant new equity issuance of 122,961,215 shares plus 11,842,695 pre-funded warrants
- Private placement structure implies restricted securities requiring registration or exemptions for resale
- Placement agent fees and offering expenses will reduce net proceeds below $275 million
News Explained
If completed, the financing would issue 122,961,215 shares plus warrants for up to 11,842,695 more, reducing existing holders’ percentage ownership.
The priced private placement is still awaiting its expected
A private placement is a sale of securities to selected investors outside a public offering. The securities are not registered, so resale in the United States generally requires an effective registration statement or an applicable exemption.
On the supplied first-quarter operating-cash basis, the proposed
At
Sources and calculations
- Entera Bio Announces Pricing of Oversubscribed $275 Million Private Placement (2026-07-27)
- Dilution (undated)
- Pre-funded warrant (undated)
- Private placement / PIPE (undated)
- Entera Bio first-quarter 2026 fundamentals (2026Q1)
- Offering gross vs quarterly operating cash outflow, in days of cash use $275,000,000 / ($3,090,000 / 90) = [object Object]
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $4,137,000 / ($3,090,000 / 90) = [object Object]
Market reaction after $275 million private placement: ENTX +91.22% in the Jul 27 session
In the Jul 27 session, ENTX gained 91.22%, reflecting a significant positive market reaction. Argus tracked a peak move of +89.5% during that session. Our momentum scanner triggered 243 alerts that day, indicating exceptionally high trading interest and price volatility. Trading volume was exceptionally heavy at 313.1x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Private placement Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 06 | Private placement | Positive | -5.6% | BVF-led $10.0 million financing funded planned Phase 3 study and general corporate purposes. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The prior private placement produced a negative 24-hour reaction despite financing intended to support the Phase 3 program.
Key Terms
private placement financial
pre-funded warrants financial
PTH(1-34) medical
osteoanabolic medical
registrational studies regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
The offering is led by existing investor BVF Partners L.P.
Expected gross proceeds are anticipated to extend the Company's cash runway into 2030 and fully support Phase 3 registrational studies for EB613, the first oral PTH(1-34) peptide tablet in development for the treatment of osteoporosis
TEL AVIV, July 27, 2026 (GLOBE NEWSWIRE) -- Entera Bio Ltd. (NASDAQ: ENTX) (“Entera” or the “Company”), a leader in the development of oral peptides, today announced that it has entered into a securities purchase agreement (the "Purchase Agreement") for an oversubscribed private placement financing (the "Private Placement"). The Private Placement is expected to result in aggregate gross proceeds to the Company of approximately
The Private Placement is led by existing investor BVF Partners L.P. ("BVF"), with participation from new investors, including Longitude Capital, Vivo Capital, TCGX, Spruce Street Capital, Venrock Healthcare Capital Partners, RA Capital Management, Perceptive Advisors, Driehaus Capital Management, Logos Capital and Catalio Capital Management, among others.
Pursuant to the terms of the Purchase Agreement, the Company agreed to issue and sell an aggregate of 122,961,215 ordinary shares of the Company (the "Ordinary Shares") and, in lieu of Ordinary Shares to certain investors, pre-funded warrants to purchase up to an aggregate of 11,842,695 Ordinary Shares (the "Pre-Funded Warrants"). The purchase price per Ordinary Share is
In addition, upon closing of the Private Placement, the Company has agreed to grant BVF the right to designate two directors to the Company’s board of directors, subject to each BVF designee’s satisfaction of all applicable requirements regarding service as a director under applicable law and Nasdaq rules and such other criteria and qualifications applicable to all directors of the Company.
The Company expects the net proceeds from the Private Placement, together with existing cash and cash equivalents, to be sufficient to fully fund the Company's planned Phase 3 registrational program of EB613, (oral PTH(1-34)), which is being developed as the first oral, osteoanabolic (bone building) once-daily tablet for the treatment of osteoporosis and through the anticipated submission of a New Drug Application to the U.S. Food and Drug Administration, advance EB612, Entera’s oral PTH(1-34) replacement therapy candidate into Phase 1 development in collaboration with OPKO Health for the treatment of hypoparathyroidism, and for working capital and other general corporate purposes. The proceeds from the Private Placement, combined with the Company’s current cash and cash equivalents, are expected to fund the Company’s operations into 2030.
Leerink Partners is acting as lead placement agent for the Private Placement. Evercore ISI, Guggenheim Securities, Cantor, LifeSci Capital, and Canaccord Genuity are acting as co-placement agents for the Private Placement. Greenberg Traurig, P.A. and Herzog Fox & Neeman are acting as counsel to Entera.
The offer and sale of the foregoing securities are being made in a transaction not involving a public offering, and the securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Entera
Entera is a clinical stage company focused on developing oral peptide and protein replacement therapies for significant unmet medical needs where an oral tablet form holds the potential to transform the standard of care. The Company leverages a disruptive and proprietary technology platform (N-Tab®) and its pipeline of first-in-class oral peptide programs. The Company’s most advanced product candidate, EB613 (oral PTH(1-34)), is being developed as the first oral, osteoanabolic (bone building) once-daily tablet for osteoporosis. A placebo-controlled, dose-ranging Phase 2 study of EB613 tablets (n = 161) met primary (PD/bone turnover biomarker) and secondary endpoints (BMD). Entera is also developing the first oral Long Acting PTH(1-34) tablet as a replacement therapy for patients with hypoparathyroidism (EB612), the first oral oxyntomodulin, a dual targeted GLP1/glucagon peptide tablet for the treatment of obesity and metabolic syndromes; and the first oral GLP-2 tablet as an injection-free alternative for patients suffering from rare malabsorption conditions such as short bowel syndrome in collaboration with OPKO Health, Inc. For more information on Entera, visit www.enterabio.com or follow us on LinkedIn, Twitter, and Facebook.
Cautionary Statement Regarding Forward Looking Statements
Various statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements (other than statements of historical facts) in this press release regarding our prospects, plans, financial position, business strategy, clinical development activities, collaboration arrangements and expected financial and operational results are forward-looking statements. Words such as, but not limited to, "anticipate," "believe," "can," "could," "expect," "estimate," "design," "goal," "intend," "may," "might," "objective," "plan," "predict," "project," "target," "likely," "should," "will," and "would," or the negative of these terms and similar expressions or words, identify forward-looking statements. Forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Important factors that could cause actual results to differ materially from those reflected in Entera's forward-looking statements include, among others: the completion of the Private Placement on the anticipated terms, timing or at all; the anticipated use of the net proceeds from the Private Placement; changes in the interpretation of clinical data; results of our clinical trials; the FDA's interpretation and review of our results from and analysis of our clinical trials; unexpected changes in our ongoing and planned preclinical development and clinical trials; the timing of and our ability to make regulatory filings and obtain and maintain regulatory approvals for our product candidates; the size and growth of the potential markets for our product candidates; the scope, progress and costs of developing Entera's product candidates; Entera's reliance on third parties to conduct its clinical trials; Entera's ability to establish and maintain development and commercialization collaborations; Entera's operation as a development stage company with limited operating history; Entera's competitive position with respect to other products on the market or in development for the treatment of osteoporosis, hypoparathyroidism, short bowel syndrome, obesity, metabolic conditions and other disease categories it pursues; Entera's ability to continue as a going concern absent access to sources of liquidity; Entera's ability to obtain and maintain regulatory approval for any of its product candidates; Entera's ability to comply with Nasdaq's minimum listing standards and other matters related to compliance with the requirements of being a public company in the United States; Entera's intellectual property position and its ability to protect its intellectual property; and other factors that are described in the "Cautionary Statement Regarding Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Entera's most recent Annual Report on Form 10-K filed with the SEC, as well as Entera's subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. There can be no assurance that the actual results or developments anticipated by Entera will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Entera. Therefore, no assurance can be given that the outcomes stated or implied in such forward-looking statements and estimates will be achieved. Entera cautions investors not to rely on the forward-looking statements Entera makes in this press release. The information in this press release is provided only as of the date of this press release, and Entera undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.
Company Contact:
IR@enterabio.com
