Entera Bio Ltd.'s (ENTX) share price surged 44.8% to close at $6.50 on June 23.

Entera Bio is a developer of orally delivered large molecule and biologic therapeutics. The company continues to witness developments and improvements in drug research in 2021, winning the confidence of its investors and seeing its share price rise to a new high.

With a market capital of 154.5 million, the share price of Entera Bio has almost tripled recently. It has skyrocketed 507.5% and 233.3% over the past six months and a year, respectively.

Why The Euphoria on ENTX?

On June 23, the company announced its Phase 2 progress related to the treatment of osteoporosis, a bone disease.

The company declared the positive final six-month bone mineral density (BMD) results from the completed Phase 2 clinical trial of its orally delivered human parathyroid hormone (1-34), or PTH, drug candidate for osteoporosis, EB613.

The study met the vital BMD endpoint, showing a significant increase in BMD in the lumbar spine, common hip, and hip neck after six months of treatment. Patients in the 2.5 mg dose group experienced a 3.78% improvement in lumbar spine BMD, 2.76% increase in hip neck and a 1.84% increase in total hip BMD, compared to the placebo group, over the six month period.

Markedly, the drug had no severe adverse effects.

The Phase 2 study was conducted on 161 postmenopausal women with osteoporosis or with low bone mineral density. It was done at leading medical centers in Israel to assess the safety and efficacy of varying doses of EB613.

Entera Bio CEO Spiros Jamas said, “We are very excited and encouraged by these great results which will support advancing discussions with potential strategic partners. These results are in line with our previously reported biomarker results and further validate Entera’s platform technology and its potential to enable oral formulation of various large molecules for a range of indications that could benefit from an oral drug.” (See Entera Bio stock chart on TipRanks)

Jamas further added, “We are looking forward to an end of Phase 2 meeting with the FDA. More detailed results will also be presented in a future scientific conference and publications. The company will evaluate potential additional osteoporosis market opportunities specifically related to increases in hip BMD.”

In addition, the firm said it plans to hold a Phase 2 meeting with the FDA in future months to review the EB613 development program.

EB613, once approved, will be the first oral bone building (osteoanabolic) treatment for osteoporosis. This drug should provide an oral alternative to daily injections, which should be far more convenient to patients.