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Summary of Highlights
- Entera's unsuccessful NASDAQ IPO is not expected to have a significant impact on its clinical plans.
- On 28th January, the company reported that Entera announced on 26th January 2018 that it had not completed its IPO and listing process as planned. Entera announced it is examining various available alternatives for raising capital.
- To our understanding, the effect of the incomplete offering on Entera's clinical plans is immaterial. The company is currently preparing for Phase 2b/3 clinical trials, which are scheduled to begin in the first quarter of 2018. Beforehand, the company will conduct a preliminary trial to examine Pharmacokinetics/Pharmacodynamics in the drug.
- Financially, it should be noted that Entera recently completed a $12.4 million financing round, and therefore, in our opinion, the company presently has sufficient funding to complete the necessary preparations prior to initiating the aforementioned experiment.
- At the same time, Entera expects to try and raise public or private capital in the coming months. If Entera manages to raise enough capital, there will be no delay in the clinical development programme.
- In light of all these considerations, we have maintained the company's value at approximately $30.9 million; a target price of $0.23 per share. The estimated valuation for the company in NIS is 106.7 million; a target price of NIS 0.79 per share (according to the exchange rate at US market close on February 2, 2018).
About the Company
Israeli holdings firm DNA Biomedical Solutions Ltd. ('DNA' or 'DNA Biomed') has two key holdings, respective 35% and 40% stakes (both fully diluted) in biomedical companies - Entera Bio and BeamMed. Entera Bio is a drug development company, founded in 2009 by DNA and Oramed, the latter from whom it has licensed a unique drug delivery platform for oral administration of pharmaceutical active large molecule proteins that are nowadays injected. Entera is conducting clinical trials for two candidate drugs treating three indications: hypoparathyroidism, osteoporosis and non-union fractures. BeamMed, and its global subsidiaries, are medical device companies that deliver an ultrasound based screening solution for determining a patient's risk of developing osteoporosis, with unique additional product features, please click here.
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SOURCE Frost & Sullivan