Breaking Down Entera Bio Ltd. (ENTX) Financial Health: Key Insights for Investors

You're looking at Entera Bio Ltd. (ENTX) and trying to map the clinical promise against the cash burn, and honestly, it's the classic biotech puzzle. The Q3 2025 financials, released in November, show the company is still firmly in R&D mode, posting a net loss of $3.2 million for the quarter, which is a slight increase from the prior year, driven by their total operating expenses of $3.3 million. Here's the quick math: they exited September 30, 2025, with a cash position of $16.6 million, which management projects will fund operations through the middle of the third quarter of 2026. That runway is defintely critical, but remember that capital doesn't include the massive cost to start the pivotal Phase 3 study for their lead candidate, EB613, the oral osteoporosis treatment that just got key FDA agreement on the Bone Mineral Density (BMD) primary endpoint. The real opportunity you're buying into is the strong Phase 2 data showing lumbar spine BMD gains of +3.1% at six months, plus the oral GLP-2 program showing an 18-fold improvement in half-life over the injectable competition. The science is compelling; the funding gap is the near-term risk.

Revenue Analysis

If you're looking at Entera Bio Ltd. (ENTX)'s revenue, the direct takeaway is simple: this is a pre-commercial, clinical-stage biotech, so its revenue is minimal, volatile, and not tied to product sales. The company's financial health hinges on its pipeline progress, not its current top line.

Honestly, the revenue line for Entera Bio Ltd. is a non-factor right now. For the three months ended September 30, 2025, the company reported $0 in revenue, which is a -100% drop from the $42,000 reported in the third quarter of 2024. This is a critical point to grasp: you are investing in a development platform, not a sales machine.

The primary revenue sources for Entera Bio Ltd. do not come from selling its lead product candidates, like EB613 for osteoporosis, because those are still in clinical trials. Instead, the small amounts of revenue they do report are typically derived from collaboration agreements or government grants, which is common for a clinical-stage biopharmaceutical company.

Here's the quick math on the nine-month trend, which gives a slightly broader view:

• Nine Months Ended September 30, 2025, Revenue: $0.042 million (or $42,000).
• Nine Months Ended September 30, 2024, Revenue: $0.099 million (or $99,000).

This translates to a year-over-year (YoY) revenue decline of approximately -57.58% for the first nine months of 2025 compared to the same period in 2024. That's a significant change, but what this estimate hides is that the 2024 revenue was already tiny. The revenue stream is defintely not a stable business segment but rather a sporadic inflow from research-related activities.

The company's sole business segment, for all practical purposes, remains the development of oral tablet formats of peptides, utilizing its proprietary N-Tab™ platform. This segment contributes 100% of the minimal revenue, which is not broken down further because there are no commercial products. The focus is entirely on advancing the pipeline, particularly EB613.

The real financial story for Entera Bio Ltd. is in its expenses and cash runway, not revenue. You should be tracking Research and Development (R&D) costs and cash burn, not sales.

For a deeper dive into the company's full financial picture, including its cash position and operating expenses, you can refer to the full analysis in Breaking Down Entera Bio Ltd. (ENTX) Financial Health: Key Insights for Investors.

So, your next step is to stop focusing on revenue and start analyzing the company's burn rate against its $16.6 million in cash and cash equivalents as of September 30, 2025, which is expected to fund operations only through the middle of the third quarter of 2026. That's the real constraint.

Profitability Metrics

You're looking at Entera Bio Ltd. (ENTX) and seeing a string of losses, and you're wondering if this is a red flag or just the cost of doing business in biotech. Honestly, for a clinical-stage biopharmaceutical company, the current financial picture is exactly what we expect. The profitability metrics don't tell a story of current financial health; they tell a story of capital deployment into R&D.

For the three months ended September 30, 2025 (Q3), Entera Bio Ltd. reported a Net Loss of $3.2 million. For the nine months ended September 30, 2025, the Net Loss totaled $8.4 million. This means their Gross Profit Margin, Operating Profit Margin, and Net Profit Margin are all deep in negative territory, effectively 0% or undefined, because the company is pre-revenue-they haven't commercialized a product yet.

Here's the quick math on why this is normal, but still a risk:

• Gross Profit Margin: Revenue is negligible (zero in Q3 2025), so there is no gross profit. This is typical. You can't have a margin on sales you haven't made yet.
• Operating Profit Margin: The operating loss for Q3 2025 was $3.256 million. This high negative margin is entirely due to the necessary research and development (R&D) spending needed to get their oral osteoporosis treatment, EB613, to market.
• Net Profit Margin: The net loss of $3.2 million in Q3 2025 translates to a massive negative net margin, which is the cost of buying future revenue.

The key trend here is the widening loss. The Net Loss for the nine months ended September 30, 2025, at $8.4 million, is an increase from the $7.2 million loss in the comparable period of 2024. This is driven by an increase in total operating expenses, which hit $3.3 million in Q3 2025 compared to $3.0 million in Q3 2024. This isn't a sign of poor cost management; it reflects increased R&D and regulatory costs as they push EB613 toward a pivotal Phase 3 study.

To be fair, comparing Entera Bio Ltd.'s margins to a mature pharmaceutical company is like comparing a sapling to an old-growth tree. The median Gross Profit Margin for large, established pharmaceutical companies is around 76.5%, with a median Net Income Margin of about 13.8%. The general industry average net profit margin is still a healthy 8.54%. Entera Bio Ltd. is nowhere near these figures, and that's the point: their current valuation is based on pipeline potential, not current financials, a common theme for pre-revenue biotech firms. You're investing in the future profits of a drug, not the current profits of a business.

The true measure of operational efficiency right now is how effectively they manage their cash runway and R&D spend. Their cash position of $16.6 million as of September 30, 2025, is projected to support operations through the middle of Q3 2026. That gives them a clear horizon for executing their clinical milestones.

For a more complete look at the company's financial foundation, you should check out the full post on Breaking Down Entera Bio Ltd. (ENTX) Financial Health: Key Insights for Investors.

Next Step: Review the R&D expense breakdown in their latest filing to confirm the spending aligns with key clinical milestones for EB613 and the OPKO collaboration.

Debt vs. Equity Structure

You want to know how Entera Bio Ltd. (ENTX) funds its operations, and the short answer is: almost entirely through equity and strategic partnerships, not debt. This is a common, smart strategy for a clinical-stage biopharmaceutical company, but it also flags a clear future capital requirement.

As of the third quarter of 2025 (Q3 2025), Entera Bio Ltd. (ENTX) maintains a remarkably clean balance sheet, effectively carrying no significant interest-bearing debt. This low-leverage profile is a deliberate choice to mitigate financial risk while the company is pre-revenue and focused on high-risk, high-reward R&D.

Here's the quick math on their leverage:

• Total Liabilities (as a proxy for all debt obligations) stood at $2.173 million as of September 30, 2025.
• Total Shareholders' Equity was $15.234 million.

This translates to a total Debt-to-Equity (D/E) ratio of roughly 0.14 or 14.26%. That's a very low number, especially when you consider the average D/E ratio for the broader Biotechnology industry is around 0.17 as of November 2025. They are defintely not a leveraged play.

The company's total liabilities are primarily operational, consisting of short-term obligations like accounts payable and other current liabilities, which totaled $1.571 million. The long-term, or non-current, liabilities are minimal at just $0.602 million. This structure means Entera Bio Ltd. (ENTX) has very little fixed financial burden from debt servicing, which is crucial when cash flow is negative due to heavy research and development (R&D) spending.

The company's growth is financed almost exclusively through equity funding and collaboration payments. In the nine months ending September 30, 2025, Entera Bio Ltd. (ENTX) raised $13.5 million through financing activities. A key component of this was the strategic collaboration with OPKO Health, Inc., which involved a direct investment and funding to co-develop the oral GLP-1/glucagon candidate. This non-dilutive collaboration funding is a smart way to advance the pipeline without solely relying on selling more shares.

Still, the current cash runway is projected only through the middle of the third quarter of 2026. What this estimate hides is the significant capital required to initiate the pivotal EB613 Phase 3 study, which is not included in the current funds. So, while the current debt picture is excellent, expect further equity raises or a new strategic partnership before mid-2026 to fund the next critical stage of clinical development.

For a deeper dive into who is backing this equity-heavy strategy, you should look at the institutional holdings: Exploring Entera Bio Ltd. (ENTX) Investor Profile: Who's Buying and Why?

Liquidity and Solvency

You want to know if Entera Bio Ltd. (ENTX) has the cash to keep the lights on, and honestly, the Q3 2025 numbers show a solid, if typical, liquidity profile for a clinical-stage biotech. The company is not yet generating significant revenue, so its financial health hinges on its cash reserves and burn rate. Simply put, their short-term assets far outweigh their short-term debts, but they are defintely burning cash to fund their pipeline.

As of September 30, 2025, Entera Bio Ltd. (ENTX) reported total liabilities of just $2.17 million. This low debt load, combined with their liquid assets, paints a clear picture of strong short-term solvency. The most recent quarter (MRQ) Current Ratio and Quick Ratio both stood at approximately 5.89.

• Current Ratio: 5.89. This means for every dollar of current liabilities, Entera Bio Ltd. (ENTX) has $5.89 in current assets to cover it. A ratio above 1.0 is good; a ratio near 6.0 is excellent for short-term coverage.
• Quick Ratio: 5.89. Since the Quick Ratio (which excludes inventory) is essentially identical to the Current Ratio, it tells you the company has virtually no inventory or that its inventory is a negligible part of its current assets. Their liquidity is almost entirely in cash and equivalents.

Here's the quick math on working capital: based on the Current Ratio of 5.89 and total liabilities of $2.17 million, the estimated working capital (Current Assets minus Current Liabilities) is approximately $10.61 million as of Q3 2025. This substantial positive working capital confirms a strong position to meet near-term obligations without stress.

The real story, though, is in the cash flow statement. For the third quarter of 2025, Entera Bio Ltd. (ENTX) used $2.50 million in net cash for operating activities. This is the cash burn-the money going out the door for R&D, G&A, and other core business functions. This operating loss is a given for a company focused on advancing its clinical pipeline, like the EB613 program for osteoporosis.

A look at the cash flow trends shows a clear pattern:

The net change in cash for Q3 2025 was a decrease of $2.29 million. That's the outflow you need to track. The critical strength here is the cash on hand: Entera Bio Ltd. (ENTX) reported $16.6 million in cash and equivalents as of September 30, 2025. Management projects this cash will support operations through the middle of Q3 2026. That's a solid, one-year-plus runway.

The potential liquidity concern isn't immediate debt repayment, but the need for future capital raises (dilution) to fund the expensive Phase 3 trials for EB613 and other pipeline advancements beyond mid-2026. The company's future liquidity is tied directly to its success in securing additional financing or partnership milestones. For a deeper dive into who is backing the company, you can check out Exploring Entera Bio Ltd. (ENTX) Investor Profile: Who's Buying and Why?

Valuation Analysis

When you look at Entera Bio Ltd. (ENTX), the question isn't simply 'Is it cheap?' but 'How do we value a clinical-stage biotech company with negative earnings?' The short answer is: it's a high-growth, high-risk play, and traditional metrics suggest it is priced for future success, not current financials. You are buying the pipeline, not the profit statement.

As of late November 2025, the stock is trading around $2.65. Over the last 12 months, the price has surged by nearly 58.96%, reflecting the positive clinical milestones, particularly with their lead osteoporosis candidate, EB613. The 52-week trading range of $1.50 to $3.22 shows significant volatility, which is typical for this sector.

Decoding Valuation Multiples

Since Entera Bio Ltd. is a pre-revenue, clinical-stage company, its valuation ratios are mostly negative or extremely high, which is a common but crucial caveat. This means we must look beyond the simple numbers and focus on the underlying asset value and growth potential.

• Price-to-Earnings (P/E): The trailing twelve months (TTM) P/E ratio is a negative -49.86. Here's the quick math: negative P/E means the company is losing money, which is expected for a biotech firm funding R&D. The consensus Earnings Per Share (EPS) forecast for the 2025 fiscal year is approximately -$0.32, resulting in a Forward P/E of roughly -8.28.
• Enterprise Value-to-EBITDA (EV/EBITDA): This ratio, which strips out capital structure effects, is also negative at approximately -10.53 (TTM as of November 2025). A negative EBITDA means the company is not generating enough cash flow from operations to cover its basic expenses, which is the cost of advancing its oral peptide platform (N-Tab™).
• Price-to-Book (P/B): The P/B ratio is high at approximately 7.7x. This is a key indicator. It tells you the market is valuing the company at 7.7 times its net tangible assets (book value), suggesting investors are placing a significant premium on the intellectual property, the clinical data, and the potential of its pipeline, like EB613 and the oral GLP-1/glucagon collaboration with OPKO Health.

Analyst Sentiment and Target Price

Wall Street's view on Entera Bio Ltd. is defintely optimistic, but it's not a unanimous call. The average analyst rating sits at a 'Moderate Buy,' but it's based on a small pool-one analyst has a 'Strong Buy' and another has a 'Sell' rating, which shows a genuine split in opinion on the risk-reward profile. Still, the consensus 12-month price target is a robust $10.00, implying a substantial upside from the current price.

What this estimate hides is the binary risk of Phase 3 trials and regulatory approval. That $10.00 target is heavily predicated on the successful advancement of EB613, especially following the FDA's agreement on Bone Mineral Density (BMD) as the primary endpoint for the Phase 3 study. To better understand the foundation of this optimism, you should review the Mission Statement, Vision, & Core Values of Entera Bio Ltd. (ENTX).

One quick takeaway: Entera Bio Ltd. is not undervalued by traditional metrics; it's a bet on clinical execution.

Dividend Policy

As a growth-focused biotechnology company, Entera Bio Ltd. does not currently pay a dividend. The dividend yield is 0.00% and the payout ratio is not applicable. Every dollar of cash is being reinvested into research and development, which is the correct capital allocation strategy for a company aiming for a major market breakthrough with its oral delivery technology.

Next Step: Review the company's latest Q3 2025 financial results for the cash runway, which is expected to support operations through the middle of the third quarter of 2026, to assess liquidity risk against the clinical timeline.

Risk Factors

You're looking at a clinical-stage biopharma like Entera Bio Ltd. (ENTX), so you need to shift your risk perspective away from typical sales cycles and toward regulatory milestones and cash burn. The biggest near-term risk is defintely financial, but it's inextricably tied to their operational success in the clinic.

The core financial reality is that Entera Bio Ltd. (ENTX) is a development-stage company with no significant product revenue. As of September 30, 2025, the company's accumulated deficit stood at approximately $122.4 million. This is the cost of building a novel oral drug platform (N-Tab™). For the third quarter of 2025 alone, the net loss was $3.2 million, with total operating expenses at $3.3 million. This burn rate is the engine driving the primary risk: liquidity.

Operational and Financial Risks: The Funding Gap

The most critical risk highlighted in recent filings is the need for substantial additional capital. While the company's cash and cash equivalents, including restricted cash, totaled $16.6 million as of September 30, 2025, management projects these funds will only sustain operations through the middle of Q3 2026. Here's the quick math: that cash runway explicitly excludes the capital required to initiate the pivotal Phase 3 trial for their lead candidate, EB613 (oral PTH for osteoporosis). If they cannot secure a major partnership or raise new equity before mid-2Q 2026, the entire EB613 program-and the company's future-hits a wall. This is the definition of a 'going concern' risk, which is a standard disclosure for companies at this stage. You need to watch for financing announcements like a hawk.

• Liquidity/Going Concern: Cash runway ends mid-Q3 2026 without Phase 3 funding.
• Clinical Failure: Any negative or inconclusive data from the EB613 Phase 3 trial would be catastrophic.
• Reliance on Third Parties: Success depends heavily on third-party contract research organizations (CROs) for clinical trials and partners like OPKO Health, Inc. for pipeline advancement.

External Risks and Mitigation Strategies

External risks mostly revolve around the regulatory environment and market competition. The company's entire business model rests on the success of its N-Tab™ technology, which aims to deliver large peptide molecules orally-a significant scientific and regulatory hurdle. The good news is that they have de-risked the regulatory path for EB613 somewhat; the FDA agreed that a single, 24-month multinational Phase 3 study with total hip Bone Mineral Density (BMD) as the primary endpoint would support a New Drug Application (NDA) filing. That's a huge win, as it streamlines the process.

Still, competition is fierce, especially in the obesity and metabolic conditions space where their oral GLP-1/glucagon candidate (in collaboration with OPKO Health, Inc.) is headed. Existing injectable therapies are entrenched. The key mitigation strategy, beyond the regulatory clarity, is the strategic collaboration with OPKO Health, Inc., which provided $8.0 million in restricted cash to fund the collaboration through Phase 1 studies and validates their platform. This partnership is a lifeline, not just for cash flow but for external validation of their technology. If you want to dig deeper into who is betting on this strategy, you should check out Exploring Entera Bio Ltd. (ENTX) Investor Profile: Who's Buying and Why?

Growth Opportunities

You're looking at Entera Bio Ltd. (ENTX) and seeing a clinical-stage biotech, which means near-term financials are about burn rate, not revenue. But the real story here is the N-Tab™ platform, a disruptive technology that's the company's core growth engine. It's simple: they're turning injectable peptides into pills, which could transform patient compliance in massive markets.

The immediate growth driver is their lead candidate, EB613, an oral parathyroid hormone (PTH(1-34)) tablet for osteoporosis. Honestly, this is a big deal because the FDA agreed in July 2025 that a single multinational Phase 3 study, using Bone Mineral Density (BMD) as the primary endpoint, can support a New Drug Application (NDA). That regulatory alignment significantly de-risks the path to market for what would be the first oral anabolic (bone-building) osteoporosis tablet.

Here's the quick math on their current financial profile, which reflects their deep R&D focus, not commercial sales:

What this estimate hides is the potential for a massive market shift if EB613 succeeds. Less than 25% of the estimated 200 million osteoporotic women globally have access to safe, effective treatment, largely because current anabolic therapies require daily or monthly injections. An oral tablet solves that problem, and that's a huge commercial opportunity.

Beyond EB613, the company is strategically expanding its pipeline through a key partnership with OPKO Health, Inc. This collaboration is focused on developing an oral dual agonist GLP-1/glucagon peptide (OPK-88006) for obesity and metabolic disorders. Entera Bio Ltd. is smart here: they retain a 40% pro-rata ownership interest in the economics of this asset, with OPKO funding the initial development through Phase 1 studies. This is a capital-efficient way to get exposure to the booming metabolic disease market.

Their competitive advantage is purely technological and regulatory, giving them a first-mover advantage in oral peptide delivery.

• N-Tab™ Platform: Enables oral delivery of peptides, eliminating injections.
• EB613 Regulatory Clarity: FDA agreement on BMD as Phase 3 primary endpoint de-risks the path.
• Pipeline Diversification: Includes EB612 for hypoparathyroidism and the oral GLP-2 program for short bowel syndrome.

The company is defintely a high-risk, high-reward biotech play. The next step is to monitor the initiation and enrollment pace of the EB613 Phase 3 trial and any new financing or partnership moves before the mid-Q3 2026 cash runway deadline. For a deeper dive into the long-term vision, you should review their Mission Statement, Vision, & Core Values of Entera Bio Ltd. (ENTX).