Entera Bio (NASDAQ: ENTX) details Q1 2026 loss and cash runway to 2027
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Entera Bio Ltd. reported a net loss of $3.5M, or $0.07 per share, for the quarter ended March 31, 2026, compared with a $2.6M loss, or $0.06 per share, a year earlier. R&D expenses increased to $2.3M while G&A held roughly flat at $1.3M.
Cash and cash equivalents were $11.9M as of March 31, 2026 and $20.4M as of May 8, 2026, including $7.8M in restricted cash for the OPKO collaboration. Management expects current funds to support operations through the first quarter of 2027 as it advances oral peptide programs EB613, EB612, and EB618.
Positive
- None.
Negative
- None.
Insights
Entera widened its loss as it stepped up R&D but strengthened its cash runway.
Entera Bio increased research spending to $2.3M in Q1 2026, up from $1.1M, reflecting progress on EB613, EB612 and EB618. Net loss rose to $3.5M, typical for a clinical-stage biotech expanding development activity without product revenue.
Cash and cash equivalents reached $20.4M by May 8, 2026, helped by a private placement led by BVF Partners and restricted funds for the OPKO collaboration. The company states this should support operations through the first quarter of 2027, covering preparation for a planned Phase 3 EB613 study.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net loss Q1 2026: $3.5M
Net loss Q1 2025: $2.6M
Loss per share Q1 2026: $0.07 per share
+5 more
8 metrics
Net loss Q1 2026
$3.5M
Quarter ended March 31, 2026
Net loss Q1 2025
$2.6M
Quarter ended March 31, 2025
Loss per share Q1 2026
$0.07 per share
Basic and diluted
R&D expense Q1 2026
$2.3M
Three months ended March 31, 2026
R&D expense Q1 2025
$1.1M
Three months ended March 31, 2025
Cash & cash equivalents
$11.9M
As of March 31, 2026
Cash & cash equivalents plus restricted
$20.4M
As of May 8, 2026, including $7.8M restricted
Operating expenses Q1 2026
$3.5M
Three months ended March 31, 2026
Key Terms
Phase 3 registrational study, hypoparathyroidism, oxyntomodulin, short bowel syndrome, +2 more
6 terms
Phase 3 registrational study financial
"activities related to the preparation of the planned Phase 3 registrational study of EB613"
A phase 3 registrational study is a large, late-stage clinical trial designed to show whether a drug or medical treatment is effective and safe enough for regulators to approve it for market use. Investors care because the study’s results are often the decisive evidence that determines whether a product can be sold, which directly affects a company’s future revenue, valuation and risk—think of it as the final exam or road test before a product can enter widespread use.
hypoparathyroidism medical
"PTH peptide replacement tablet for hypoparathyroidism – Expanded 50/50 partnership with OPKO"
A disorder in which small glands in the neck fail to make enough of a hormone that keeps blood calcium at the right level, causing low calcium with symptoms such as muscle cramps, tingling or fatigue. For investors, it matters because chronic, hard-to-manage conditions like this create demand for medicines, medical devices and diagnostic tests, shaping clinical trial needs, regulatory review and potential market opportunity much like a persistent mechanical problem creates ongoing demand for repairs.
oxyntomodulin medical
"the first oral oxyntomodulin, a dual targeted GLP1/glucagon peptide tablet for the treatment of obesity"
Oxyntomodulin is a naturally occurring gut hormone released after eating that reduces appetite and influences blood sugar and energy use, acting like a thermostat that helps dial down hunger and adjust the body's fuel handling. It matters to investors because drugs that mimic or boost this hormone are a major class of experimental treatments for obesity and diabetes; trial results, safety findings, and regulatory decisions around oxyntomodulin-based therapies can strongly affect company value and market opportunity.
short bowel syndrome medical
"first oral GLP-2 tablet as an injection-free alternative for patients suffering from rare malabsorption conditions such as short bowel syndrome"
A chronic digestive disorder caused when a large portion of the small intestine is missing or not working, so the body cannot absorb enough nutrients and fluids from food. Investors should care because people with this condition often need long-term medical treatments, specialized nutrition or surgeries, and ongoing devices or drugs, creating sustained demand, higher healthcare costs, and opportunities for companies that provide therapies, supplies, or related services.
forward-looking statements regulatory
"Various statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
restricted cash financial
"the $7.8 million restricted cash which is designated to fund the OPKO collaboration"
Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.
Earnings Snapshot
Net loss: $3.5M · Guidance included
Q1 2026
Net loss
$3.5M
Loss per share
$0.07
R&D expenses
$2.3M
Guidance
The company states that available funds are expected to support operations through the first quarter of 2027, including preparation for the planned Phase 3 EB613 study.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 8, 2026
(Exact Name of Registrant as Specified in Its Charter)
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(Registrant’s Telephone Number, Including Area Code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On May 8, 2026, Entera Bio Ltd., a company organized under the laws of the State of Israel (“we,” “us,” “our” or the “Company”),
issued a press release announcing its financial results for the three months ended March 31, 2026 and business updates. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference in
this Item 2.02.
Item 7.01 Regulation FD Disclosure.
The information contained in Item 2.02 of this Current Report on Form 8-K is incorporated by reference in this Item 7.01.
The information contained in this Current Report on Form 8-K, including in Exhibit 99.1 attached hereto, is “furnished” and not
“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference in another filing under
the Exchange Act or the Securities Act of 1933, as amended, except to the extent such other filing specifically incorporates such information by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit
Number
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Description
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99.1
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Press Release
dated May 8, 2026 announcing the Company’s financial results for the three months ended March 31, 2026 and business updates.
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document).
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
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ENTERA BIO LTD.
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Date: May 8, 2026
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By:
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/s/ Miranda Toledano
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Name: Miranda Toledano
Title: Chief Executive Officer
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Exhibit 99.1
Entera Announces First Quarter 2026 Financial Results and Updates Across its Oral Peptide Programs
EB613, the first oral anabolic (bone building) peptide tablet for postmenopausal women with osteoporosis – Phase 3
protocol submitted with FDA feedback expected imminently; incremental data submitted to ENDO2026 and ASBMR
EB612, the first oral long-acting PTH peptide replacement tablet for hypoparathyroidism – Expanded 50/50 partnership
with OPKO; intention to file IND in late 2026; data submitted to ENDO2026
EB618, the first oral OXM (dual GLP-1/Glucagon) tablet for metabolic and fibrotic conditions – data submitted to
ENDO2026
Direct Investment led by BVF Partners L.P. to support EB613 pivotal study acceleration and working capital
TEL AVIV, May 8, 2026 -- Entera Bio Ltd. (NASDAQ:
ENTX) ("Entera" or the "Company"), a leader in the development of oral peptides, today reported financial results and key business updates for the quarter ended March 31, 2026.
“The first quarter of 2026 solidified Entera’s position as the leading oral peptide therapeutics company. Our N-Tab® platform
is developing arguably the richest pipeline of clinical and near-clinical first in class assets, and we are driven by our mission to develop transformative medicines and invest in therapeutic spaces that have been ignored and require urgent
attention,” said Miranda Toledano, CEO of Entera.
“This begins with our EB613 journey to develop the first oral anabolic to potentially help millions of women preserve their bone health
while advocating for much needed innovation in a therapeutic space which disproportionately affects the health of women. In March 2026, we submitted documents to FDA related to EB613’s potential registrational package. This quarter, we also completed
a critical Phase 1 bridging study for the single, final tablet formulation of EB613. Additionally, we submitted PK and TPTX proof of concept data for EB612 in hypoparathyroidism and NHP PK data for EB618 in metabolic conditions to ENDO2026 and ASBMR.
Each of these milestones has been executed with a strong focus on capital efficiency by a core team that has a unifying commitment to succeed in developing therapeutics that matter,” said Miranda Toledano, Chief Executive Officer of Entera.
Key Recent Highlights
EB613: First Oral PTH(1-34) Anabolic Tablet for Osteoporosis
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Streamlined Phase 3 Protocol Submitted to FDA: In March 2026,
Entera announced it had submitted a clinical amendment to the FDA providing a streamlined Phase 3 protocol, statistical analysis plan, and extension synopsis under its IND 505(b)(2) for EB613. The planned Phase 3 trial is designed as a
multinational, randomized, double-blind, placebo-controlled safety and efficacy study in 750 postmenopausal women with osteoporosis, with percentage change in total hip bone mineral density (BMD) from baseline to month 12 as the primary
outcome measure. Entera also submitted a protocol synopsis to conduct an extension study which is designed to evaluate 24 months of EB613 monotherapy treatment or 12 months of EB613 followed by 12 months of treatment with a standard
anti-resorptive drug.
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Next-Gen EB613 Single Tablet Advanced as Phase 3 Candidate: In
January 2026, Entera completed a Phase 1 PK and safety bridging study comparing the single-tablet to the multi-tablet formulation of EB613 and Forteo® (teriparatide SC injection, Eli Lilly). Entera plans to advance the single tablet of EB613
into Phase 3. Data has been submitted as an abstract to ENDO2026.
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Key Opinion Leader (KOL) Webinar on Osteoporosis Treatment Landscape:
On April 20, 2026, Entera hosted a virtual KOL roundtable with Dr. Felicia Cosman (Professor of Medicine at Columbia University) and Dr. Steven Goldstein (Professor of Obstetrics and Gynecology at NYU Grossman School of Medicine and former
President of both the International Menopause Society and the North American Menopause Society) to gain endocrinology and gynecology insights into how the clinician ecosystem treats osteoporosis today. The KOLs highlighted the critical unmet
demand for an oral anabolic in this silent, asymptomatic disease and EB613’s potential to transform the paradigm. A replay of the video is available at the following link: https://www.youtube.com/watch?v=2z6oOgwAWmg
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EB612: First-in-Class Oral Long-Acting PTH(1-34) Replacement Tablet for Hypoparathyroidism
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Expanded OPKO 50/50 Partnership Accelerates Path to Clinic, Funded
Through Phase 1: In February 2026, Entera and OPKO amended and restated their 2025 Collaboration Agreement to advance the first oral long-acting PTH (LA-PTH) analog as a once-daily tablet for patients with hypoparathyroidism. The
EB612 program has been prioritized, with an expectation to file an IND application in late 2026. TPTX and PK study data completed during the quarter have been submitted as abstracts to ENDO2026.
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EB618: First-in-Class Oral Dual GLP-1/Glucagon (OXM) Tablet for Obesity and Metabolic Disease
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In March 2025, Entera and OPKO announced that the potential initiation of EB618 would occur pursuant to analysis of the Phase 1 SAD/MAD studies that OPKO plans to
initiate with subcutaneous once weekly injectable OXM. Pharmacokinetic data for the oral OXM tablet developed by Entera in NHP has been submitted to ENDO2026.
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Corporate Highlights
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Geno J. Germano Appointed Chairman of the Board: In February
2026, Mr. Germano, formerly Group President of Pfizer’s Global Innovative Pharmaceutical Business, succeeded Gerald Lieberman as Chairman. Mr. Germano brings more than three decades of leadership experience across development,
commercialization, and global operations at Pfizer, Wyeth, and other leading biopharmaceutical companies, and has served on the board of directors of Sage Therapeutics, Bioverativ Inc., and The Medicines Company, among others.
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Steve Rubin Joined Board of Directors: In February 2026, Steve
Rubin, Executive Vice President of Administration and director at OPKO, joined Entera’s Board of Directors. Mr. Rubin brings three decades of experience in corporate governance and strategic oversight of drug development across multiple
public biotechnology companies.
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Financial Results for the Quarter Ended March 31, 2026
Cash and cash equivalents as of
March 31, 2026, were $11.9 million. As of May 8, 2026, cash and cash equivalents were $20.4 million, inclusive of the proceeds from the private placement led by BVF Partners L.P. in April 2026 and the $7.8 million restricted cash which is designated
to fund the OPKO collaboration including EB612 and EB618. The Company’s available funds are expected to support operations through the first quarter of 2027, including activities related to the preparation of the planned Phase 3 registrational study
of EB613.
Research and development expenses for
the three months ended March 31, 2026 were $2.3 million, as compared to $1.1 million for the three months ended March 31, 2025.
General and administrative expenses for
the three months ended March 31, 2026 were $1.3 million, as compared to $1.4 million for the three months ended March 31, 2025.
Total operating expenses for the
three months ended March 31, 2026 were $3.5 million, as compared to $2.6 million for the three months ended March 31, 2025.
Net loss was $3.5 million, or
$0.07 per ordinary share (basic and diluted), for the three months ended March 31, 2026, as compared to $2.6 million, or $0.06 per ordinary share (basic and diluted), for the three months ended March 31, 2025.
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: 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 potential disruption and delay of manufacturing supply chains; loss of available workforce resources, either by Entera or its collaboration and laboratory partners; impacts to research
and development or clinical activities that Entera may be contractually obligated to provide; overall regulatory timelines; 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
IR@enterabio.com
ENTERA BIO LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)
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March 31,
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December 31,
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2026
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2025
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(Unaudited)
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(Audited)
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Cash and cash equivalents
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4,137
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7,108
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Restricted cash
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7,790
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7,775
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Accounts receivable and other current assets
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566
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415
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Property and equipment, net
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127
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134
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Other assets
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509
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561
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Total assets
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13,129
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15,993
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Accounts payable and other current liabilities
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1,576
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2,203
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Total non-current liabilities
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866
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689
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Total liabilities
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2,442
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2,892
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Total shareholders’ equity
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10,687
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13,101
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Total liabilities and shareholders’ equity
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13,129
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15,993
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ENTERA BIO LTD.
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS
(U.S. dollars in thousands, except share and per share data)
(U.S. dollars in thousands, except share and per share data)
(Unaudited)
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Three Months Ended March 31,
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2026
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2025
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REVENUES
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—
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42
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COST OF REVENUES
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—
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42
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GROSS PROFIT
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—
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—
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OPERATING EXPENSES:
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Research and development
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2,251
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1,123
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General and administrative
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1,288
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1,440
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TOTAL OPERATING EXPENSES
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3,539
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2,563
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OPERATING LOSS
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3,539
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2,563
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FINANCIAL (INCOME) EXPENSES, NET
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(34
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)
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4
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NET LOSS
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3,505
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2,567
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LOSS PER SHARE BASIC AND DILUTED
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0.07
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0.06
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WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE
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47,756,409
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43,377,391
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FAQ
How did Entera Bio (ENTX) perform financially in Q1 2026?
Entera Bio reported a Q1 2026 net loss of $3.5 million, or $0.07 per share. This compares with a $2.6 million loss, or $0.06 per share, in Q1 2025 as research and development expenses increased while the company reported no revenues.
What is Entera Bio’s cash position and runway after Q1 2026?
Entera Bio had $11.9 million in cash and cash equivalents at March 31, 2026, and $20.4 million by May 8, 2026. The higher balance includes proceeds from an April 2026 private placement and $7.8 million of restricted cash, supporting operations through the first quarter of 2027.
How did Entera Bio’s operating expenses change year over year in Q1 2026?
Total operating expenses rose to $3.5 million in Q1 2026 from $2.6 million in Q1 2025. Research and development expenses increased to $2.3 million from $1.1 million, while general and administrative expenses were relatively stable at about $1.3 million versus $1.4 million.
What progress did Entera Bio report on its EB613 oral osteoporosis program?
Entera Bio submitted Phase 3-related documents for EB613 to the FDA and completed a Phase 1 bridging study for its final tablet formulation. EB613 is being developed as a once-daily oral anabolic tablet for osteoporosis, aiming to move into a planned Phase 3 registrational study.
What are the key updates on Entera Bio’s EB612 and EB618 programs?
For EB612, Entera Bio expanded its 50/50 partnership with OPKO and intends to file an IND in late 2026. The company also submitted pharmacokinetic and proof-of-concept data for EB612 and non-human primate PK data for EB618 to ENDO2026 and ASBMR conferences.
How is Entera Bio collaborating with OPKO within its pipeline?
Entera Bio collaborates with OPKO on EB612 and EB618, supported by $7.8 million in restricted cash. This funding is designated to the OPKO collaboration, which includes the oral long-acting PTH(1-34) replacement tablet for hypoparathyroidism and the oral dual GLP-1/glucagon tablet for metabolic conditions.