Entera Bio extends cash runway into 2025

Entera Bio closed a private placement with certain existing and new investors. The Company issued and sold 7,916,879 units at a price of $0.835 per unit, each consisting of one ordinary share of Entera, and one five-year warrant. Gross proceeds to Entera, before offering expenses, were approximately $6.6 million, extending the Company’s cash runway into 2025. The five-year warrants to purchase one ordinary share at an exercise price of $1.00 per ordinary share, representing a 41% premium to the Nasdaq closing price per ordinary share on Wednesday, December 20, 2023. If all warrants were exercised for cash, Entera would be entitled to receive additional proceeds of approximately $7.9 million. The Company intends to use the net proceeds from the private placement for general working capital purposes. Network 1 Financial Securities acted as lead placement agent for the private placement.