Entero Therapeutics Reports Q2 Loss, Cash Position

TL;DR

Entero Therapeutics Q2 loss narrowed to $1.56M on $0.48M revenue, cash at $12.37M.

AI Summary

Entero Therapeutics, Inc. reported its Q2 2024 results, showing a net loss of $1.56 million on revenue of $0.48 million for the quarter ended June 30, 2024. This compares to a net loss of $2.94 million on revenue of $0.51 million for the same period in the prior year. The company's cash and cash equivalents stood at $12.37 million as of June 30, 2024.

Why It Matters

The company's financial performance and cash reserves are crucial indicators for investors assessing its ability to fund ongoing operations and future development of its pharmaceutical products.

Risk Assessment

Risk Level: medium — The company operates in the highly competitive and regulated pharmaceutical industry, with a history of net losses, indicating inherent financial risks.

Key Numbers

• $1.56M — Net Loss (Q2 2024, compared to $2.94M in Q2 2023)
• $0.48M — Revenue (Q2 2024, compared to $0.51M in Q2 2023)
• $12.37M — Cash and Cash Equivalents (As of June 30, 2024)

Key Players & Entities

• Entero Therapeutics, Inc. (company) — Filer
• First Wave BioPharma, Inc. (company) — Former Company Name
• AzurRx BioPharma, Inc. (company) — Former Company Name
• BioPharma d'Azur, Inc. (company) — Former Company Name
• $1.56 million (dollar_amount) — Net Loss for Q2 2024
• $0.48 million (dollar_amount) — Revenue for Q2 2024
• $2.94 million (dollar_amount) — Net Loss for Q2 2023
• $0.51 million (dollar_amount) — Revenue for Q2 2023
• $12.37 million (dollar_amount) — Cash and cash equivalents as of June 30, 2024
• 20240630 (date) — End of Reporting Period

FAQ

Key Financial Figures

• $0.0001 — ch Registered Common stock, par value $0.0001 per share ENTO The Nasdaq Capital M

Filing Documents

• tmb-20240630x10q.htm (10-Q) — 1958KB
• tmb-20240630xex3d1.htm (EX-3.1) — 879KB
• tmb-20240630xex31d1.htm (EX-31.1) — 12KB
• tmb-20240630xex31d2.htm (EX-31.2) — 12KB
• tmb-20240630xex32d1.htm (EX-32.1) — 7KB
• tmb-20240630xex3d1001.jpg (GRAPHIC) — 5KB
• tmb-20240630xex3d1002.jpg (GRAPHIC) — 5KB
• 0001410578-24-001685.txt ( ) — 10564KB
• tmb-20240630.xsd (EX-101.SCH) — 78KB
• tmb-20240630_cal.xml (EX-101.CAL) — 65KB
• tmb-20240630_def.xml (EX-101.DEF) — 342KB
• tmb-20240630_lab.xml (EX-101.LAB) — 681KB
• tmb-20240630_pre.xml (EX-101.PRE) — 516KB
• tmb-20240630x10q_htm.xml (XML) — 1583KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Unaudited Condensed Consolidated Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 42 Item 6. Exhibits 42

SIGNATURES

SIGNATURES Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (" Quarterly Report" ) contains forward-looking statements that involve substantial risks and uncertainties. All statements contained in this Quarterly Report other than statements of historical facts, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The words "anticipate", "believe", "estimate", "expect", "intend", "may", "plan", "predict", "project", "target", "potential", "will", "would", "could", "should", "continue" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about: our ability to maintain compliance with the applicable listing requirements of The Nasdaq Capital Market; our ability to satisfy our payment obligations related to the acquisition of First Wave Bio, Inc. and merger with ImmunogenX; the availability of capital to satisfy o

UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS In our opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly our financial position, results of operations, and cash flows for the interim periods presented. We have consolidated such financial statements in accordance with the rules and regulations of the Securities and Exchange Commission (" SEC "). Therefore, such financial statements do not include all disclosures required by accounting principles generally accepted in the United States of America. In preparing these unaudited condensed consolidated financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the unaudited condensed consolidated financial statements were issued by filing with the SEC. These financial statements should be read in conjunction with our audited financial statements for the year ended December 31, 2023 included in our Annual Report filed on Form 10-K, filed with the SEC on March 29, 2024. The results of operations for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2024. -1- Table of Contents ENTERO THERAPEUTICS, INC. Condensed Consolidated Balance Sheets June 30, 2024 December 31, (unaudited) 2023 ASSETS Current Assets: Cash and cash equivalents $ 662,479 $ 3,711,770 Prepaid expenses 554,445 1,244,466 Assets of disposal group held for sale 83,170,009 — Total Current Assets 84,386,933 4,956,236 Property, equipment, and leasehold improvements, net 1,335 14,565 Other Assets: Restricted cash 21,516 21,522 Goodwill 1,684,182 1,684,182 Operating lease right-of-use assets 161,737 195,440 Deposits 31,750 11,250 Total Other Assets 1,899,185 1,912,394 Total Assets $ 86,287,453

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