Entera Bio prices $10M direct investment, sees up to $24.5M in total proceeds

* Entera Bio (ENTX [https://seekingalpha.com/symbol/ENTX]) said [https://seekingalpha.com/pr/20460875-entera-bio-announces-pricing-of-10_0-million-direct-investment-by-bvf-partners-with-potential] on Thursday it had entered into a securities purchase agreement for a private placement led by BVF Partners.
* Under the private placement, the company had agreed to issue 7.83M units at $1.2775 each, with each unit comprising one share (or pre-funded warrant) and a five-year warrant to buy 1.5 shares at $1.24 per share, an 11.7% premium to its March 31 closing price.
* Gross proceeds from the offering were expected to be about $10M.
* If all warrants were exercised for cash, the company could receive an additional $14.5M, bringing total potential proceeds to about $24.5M.
* The company said it would use the proceeds, along with existing cash, to fund a Phase 3 study of EB613 and for general corporate purposes.
* Shares +2.70%

MORE ON ENTERA BIO

* Seeking Alpha’s Quant Rating on Entera Bio [https://seekingalpha.com/symbol/ENTX/ratings/quant-ratings]
* Historical earnings data for Entera Bio [https://seekingalpha.com/symbol/ENTX/earnings]
* Financial information for Entera Bio [https://seekingalpha.com/symbol/ENTX/income-statement]