Entera Bio Ltd. is a clinical-stage company developing first-in-class oral tablet formats of peptides or protein replacement therapies, leveraging its N-Tab platform. The company reported a net loss of $11.4 million in 2025, an increase from $9.5 million in 2024. Operating loss for 2025 was $11.5 million, up from $9.6 million in 2024. Revenue significantly decreased to $42 thousand in 2025 from $181 thousand in 2024, primarily from research services. As of December 31, 2025, the accumulated deficit reached $125.4 million. Management believes existing cash and cash equivalents of $14.9 million (including $7.8 million restricted for collaboration) will fund operations through the middle of the third quarter of 2026, *excluding* the initiation of the Phase 3 study for EB613. Substantial doubt exists about the company's ability to continue as a going concern, as noted by management and the independent registered public accounting firm. The lead product candidate, EB613 (oral teriparatide for osteoporosis), has received FDA concurrence for a Phase 3 study with total hip BMD as the primary endpoint, and the FDA qualified total hip BMD as a surrogate efficacy endpoint in December 2025. A Phase 3 protocol for EB613 was submitted to the FDA in February 2026, with initiation planned for the second half of 2026, contingent on additional funding. EB612 (oral LA-PTH for hypoparathyroidism) showed promising preclinical PK/PD data supporting once-daily dosing, leading to an expanded collaboration with OPKO in February 2026 for joint development. The oral GLP-1/Glucagon (EB618) program, in collaboration with OPKO, demonstrated significant systemic exposure and favorable PK profile in preclinical models, with an IND filing for the oral formulation planned after OPKO's subcutaneous Phase 1 data (expected end of 2026). The oral GLP-2 program for short bowel syndrome showed a prolonged plasma half-life and sustained systemic exposure in mini-pig studies, supporting once-daily oral dosing. The company's global patent portfolio includes issued patents and applications for its N-Tab platform and product candidates, with some composition-of-matter patents in-licensed from OPKO expiring in 2045-2046. The Israel-Hamas conflict and regional instability have not materially impacted business or operations to date, but geopolitical risks could affect capital raising.