Entero Therapeutics - ENTO STOCK NEWS

Entero Therapeutics (NASDAQ: ENTO) has secured a $2 million revolving loan agreement and appointed three new Board members. The loan agreement required the replacement of three out of five Board members with directors designated by the lender. James Sapirstein, Alastair Riddell, and Timothy Ramdeen have resigned from the Board.

The new appointees are: Richard Paolone, a Toronto-based securities lawyer; Eric Corbett, a managing director with capital markets experience; and Manpreet Uppal, a professional with capital markets and real estate expertise. The financing aims to strengthen the company's balance sheet and provide working capital while bridging to an anticipated subsequent public offering.

Entero Therapeutics (NASDAQ: ENTO) announced a binding term sheet for a reverse merger with Journey Therapeutics, a clinical-stage biopharmaceutical company. The merger will create a Nasdaq-listed company focused on Journey's nano-immunoconjugates (NIC) platform and Entero's gastrointestinal pipeline. Journey shareholders will acquire 99% of Entero's equity. The combined company will operate as Journey Therapeutics, led by Henry Ji, Ph.D. The NIC platform, licensed from Mayo Clinic, combines nanoparticle albumin-bound paclitaxel with tumor-targeting antibodies and chemotherapeutic toxins. The merger requires at least $5 million in equity financing and stockholder approval.

Entero Therapeutics (NASDAQ: ENTO) has signed a binding letter of intent with Data Vault Holdings to exclusively license two technology product suites - QOLPOM® and FotoDigm® - for clinical trial compliance. The deal aims to integrate these applications in Entero's planned Phase 3 study of latiglutenase for celiac disease. Key points:

1. Entero will receive global rights to pilot and commercialize the technology.
2. Payment includes convertible preferred stock and single-digit royalties.
3. The deal is contingent on securing at least $500K in strategic investment.
4. Closing is expected by the end of September.
5. The technology could improve clinical trial outcomes and has potential for broader commercial applications.

Entero Therapeutics (NASDAQ: ENTO), a clinical-stage biopharmaceutical company focused on gastrointestinal (GI) diseases, has received a notification from Nasdaq regarding its delayed Form 10-Q filing. The company is not in compliance with Nasdaq Listing Rule 5250(c)(1) due to the late submission of its quarterly report for the period ended June 30, 2024.

Entero Therapeutics has until October 21, 2024, to submit a compliance plan to Nasdaq. If approved, the company may receive an extension until February 17, 2025, to regain compliance. The delay is attributed to the resignation of Forvis Mazars, LLP as the company's independent auditors on August 9, 2024. Entero Therapeutics is currently seeking a new accounting firm and aims to file the Form 10-Q before the October deadline.

Entero Therapeutics (NASDAQ: ENTO) has provided a business update focusing on its lead product candidate, latiglutenase, for celiac disease treatment. The company plans to advance latiglutenase into a pivotal Phase 3 trial in 2025. Key developments include:

1. Submitting two Type D meeting requests to the FDA to optimize the Phase 3 trial design.
2. Proposing to reduce cohorts from three to two (1200 mg and placebo) to maximize efficacy and potentially reduce costs and trial duration.
3. Preparing to finalize histology-related secondary efficacy endpoints.
4. Streamlining the trial design to focus on severe and symptomatic patients with intestinal damage.
5. Completing a small financing of $1.9 million in gross proceeds.
6. Consolidating operations to the Boca Raton headquarters to reduce costs and improve efficiency.

Entero Therapeutics has announced agreements with holders of its existing warrants, allowing them to exercise their warrants at a reduced price of $1.09 per share. This exercise is expected to yield approximately $1.9 million in gross proceeds. In return, these holders will receive new warrants to purchase additional shares at the same price, exercisable for five years after stockholder approval. The transaction, conducted as an at-market deal under Nasdaq rules, involves issuing new warrants for up to 3,525,348 shares. Roth Capital Partners served as the financial advisor for this transaction.

Entero Therapeutics announced that their abstract on Celiac Disease research has been accepted for oral presentation at the 20th International Celiac Disease Symposium (ICDS) in Sheffield, UK, from September 5-7, 2024. The presentation will introduce a new VCIEL scale, aimed at assessing small intestinal mucosal health in Celiac Disease patients. Jack Syage, Ph.D., the President and Chief Scientific Officer, remarked that this advancement could significantly improve the precision of monitoring and diagnosing Celiac Disease, potentially enhancing treatment effectiveness.

The ICDS event details include the presentation titled 'A Composite Mucosal Scale for Celiac Disease Encompassing Both Morphology and Inflammation'. The symposium will be held at Sheffield City Hall, and registration is available through the ICDS website.

Entero Therapeutics has announced the publication of a novel algorithm for measuring intestinal damage in celiac disease. The VCIEL scale, detailed in Clinical Gastroenterology and Hepatology, combines architectural changes and inflammation metrics to provide a more sensitive and quantitative measure of small intestinal health. This innovation promises to improve the accuracy of histological evaluations and efficacy assessments of treatments for celiac disease. The significance of VCIEL was emphasized in a special editorial, underlining its potential impact on celiac disease research and clinical trials.

Entero Therapeutics, a biopharmaceutical company specializing in gastrointestinal (GI) disease therapies, will provide a corporate update at the 2024 BIO International Convention, held from June 3-6 in San Diego, CA. The company will present on June 4 at 10:30 a.m. PDT in Presentation Theater 4. The focus will be on their Phase 3 treatment for celiac disease. Interested parties can schedule meetings via the BIO One-on-One Partnering platform.