MIAMI and JERUSALEM - OPKO Health, Inc. (NASDAQ: OPK) and Entera Bio Ltd. (NASDAQ: ENTX) have announced a collaboration to develop an oral treatment for obesity and other metabolic disorders. Entera Bio, with a current market capitalization of $69.24 million, brings strong financial fundamentals to the partnership, maintaining more cash than debt on its balance sheet. The companies plan to advance into clinical trials with an oral dual agonist GLP-1/glucagon peptide, a once-daily tablet designed to treat patients with obesity, metabolic, and fibrotic disorders.
The treatment, which combines OPKO’s oxyntomodulin analog (OPK-88006) with Entera’s N-Tab™ technology, has shown favorable pharmacodynamic, pharmacokinetic, and bioavailability data from in vivo studies reported in September 2024. The firms aim to file an Investigational New Drug application with the U.S. Food and Drug Administration (FDA) later this year.
Under the agreement, OPKO and Entera will hold 60% and 40% ownership interests, respectively, in the program, and will be responsible for the corresponding percentage of development costs. OPKO has also purchased 3,685,226 ordinary shares of Entera at $2.17 per share. The proceeds from the share sale will fund Entera’s share of costs through Phase 1 of the development program. Post Phase 1, Entera has the option to continue funding its share to maintain its ownership interest or, if opting out, will retain a 15% interest in the program while OPKO will assume 85% ownership and responsibility for further development. According to InvestingPro analysis, Entera’s stock has shown strong momentum with a 37.23% return over the past year, though current valuations suggest the stock may be trading above its Fair Value.
Phillip Frost, M.D., Chairman and CEO of OPKO, expressed enthusiasm for the collaboration with Entera, highlighting the potential to offer additional treatment options for patients with these diseases. Miranda Toledano, CEO of Entera, also emphasized the partnership’s shared vision to develop differentiated oral peptide treatments. InvestingPro data reveals Entera maintains a healthy current ratio of 6.61, indicating strong short-term financial stability. Investors can access 8 additional exclusive ProTips and comprehensive financial metrics through an InvestingPro subscription.
This partnership marks a step forward in the development of oral peptide therapies, as currently, no approved dual GLP-1/glucagon agonists are available. Both companies have a history of developing treatments for various medical needs, with Entera focusing on oral peptide and protein replacement therapies and OPKO on leveraging its proprietary technologies in pharmaceuticals and diagnostics. Investors tracking this development should note Entera’s next earnings report is scheduled for March 27, 2025.
The information for this article is based on a press release statement.
In other recent news, Entera Bio Ltd. has filed a new document with the U.S. Securities and Exchange Commission (SEC). The filing, dated January 10, 2025, includes Exhibit 5.1, which contains a legal opinion from Herzog Fox & Neeman, and Exhibit 23.1, which is the consent of the same legal firm. These documents pertain to the company’s securities and are part of routine compliance with SEC regulations. The filing does not represent an offer to sell or a solicitation to buy securities, nor does it imply any material changes to Entera Bio’s financial position or operations. This is a standard procedure to ensure transparency and adherence to legal and regulatory requirements. Investors can view the complete exhibits by accessing the official SEC filing. Entera Bio’s principal executive offices are located in Jerusalem, Israel. The company operates under the laws of the State of Israel.
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