ENTX - Amgen Entera end research collaboration

2023-05-08 14:25:22 ET

• Amgen ( AMGN ) and Israeli biopharma Entera Bio ( NASDAQ: ENTX ) are ending a research collaboration that began in 2018 that was examining the latter's delivery technology for pre-clinical studies.
• In a May 5 news release, Entera ( ENTX ) said the arrangement was being discontinued "out of mutual convenience."
• Entera ( ENTX ) said that its existing cash resources of $10.7M as of March 31 should be enough to meet operating requirements into Q3 2024.
• The company is up 6% in Monday afternoon trading.
• Entera ( ENTX ) was eligible for up to $270M in milestones , plus royalties, under the agreement. Amgen ( AMGN ) had selected one molecule to advance during the partnership.

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