NTEC Intec Pharma Ltd.

0.37
-0.03  -7%
Previous Close 0.4
Open 0.39
52 Week Low 0.132412
52 Week High 1.56
Market Cap $29,216,862
Shares 78,964,492
Float 78,542,944
Enterprise Value $18,910,071
Volume 8,171,245
Av. Daily Volume 9,433,100
Stock charts supplied by TradingView

Drug Pipeline

Drug Stage Notes
AP-THC
Various pain indications
Phase 1
Phase 1
Phase 1 PK trial planned for 2020.
AP-CDLD
Advanced Parkinson's Disease
Phase 3
Phase 3
Phase 3 data released July 22, 2019 did not meet primary endpoint.

Latest News

  1. JERUSALEM, Aug. 07, 2020 (GLOBE NEWSWIRE) -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company"), today announced that it has entered into a definitive agreement with Aspire Capital Fund ("Aspire") for the purchase and sale, in a registered direct offering, of 7,125,000 of the Company's ordinary shares at a purchase price of $0.3511 per share, and pre-funded warrants to purchase 7,125,000 of the Company's ordinary shares at a purchase price of $0.3411 per warrant, which represents the per warrant offering price less the $0.01 per share exercise price for each such warrant. The offering is expected to close on or about August 10, 2020, subject to satisfaction of customary closing conditions.

    The gross proceeds to Intec from…

    JERUSALEM, Aug. 07, 2020 (GLOBE NEWSWIRE) -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company"), today announced that it has entered into a definitive agreement with Aspire Capital Fund ("Aspire") for the purchase and sale, in a registered direct offering, of 7,125,000 of the Company's ordinary shares at a purchase price of $0.3511 per share, and pre-funded warrants to purchase 7,125,000 of the Company's ordinary shares at a purchase price of $0.3411 per warrant, which represents the per warrant offering price less the $0.01 per share exercise price for each such warrant. The offering is expected to close on or about August 10, 2020, subject to satisfaction of customary closing conditions.

    The gross proceeds to Intec from this offering are expected to be approximately $4.9 million, before deducting a commitment fee payable to Aspire of $250,000 and other offering expenses. The Company intends to use the net proceeds from the offering to fund its research and development activities and for working capital and general corporate purposes.

    The ordinary shares, the pre-funded warrants and the ordinary shares underlying the pre-funded warrants are being offered by Intec pursuant to a "shelf" registration statement on Form S-3 (File No. 333-230016) previously filed with the Securities and Exchange Commission (the "SEC") on March 1, 2019 and declared effective by the SEC on March 28, 2019. The offering of the securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the ordinary shares being offered will be filed with the SEC. 

      

    This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Intec Pharma Ltd.

    Intec Pharma is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company's Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism. The Company's product pipeline includes two product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, which is in late-stage Phase 3 development for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients, and AP-cannabinoids, an Accordion Pill to deliver either or both of the primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC) for various pain indications. In addition, the Company has a research collaboration with Merck & Co.

    For more information, visit www.intecpharma.com. Intec Pharma routinely posts information that may be important to investors in the Investor Relations section of its website.

    Cautionary Note Regarding Forward-Looking Statements

     This press release contains forward looking statements about our expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise, except as required by law. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of our control. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: market and other conditions, the completion of the registered direct offering, the satisfaction of customary closing conditions related to the registered direct offering and the intended use of proceeds from the registered direct offering, our limited operating history and history of operating losses, our ability to continue as a going concern, our ability to obtain additional financing, our ability to successfully operate our business or execute our business plan, the timing and cost of our clinical trials, the completion and receiving favorable results in our clinical trials, our ability to obtain and maintain regulatory approval of our product candidates, our ability to protect and maintain our intellectual property and licensing arrangements, our ability to develop, manufacture and commercialize our product candidates, the risk of product liability claims, the availability of reimbursement, and the influence of extensive and costly government regulation. More detailed information about the risks and uncertainties affecting us is contained under the heading "Risk Factors" included in our most recent Annual Report on Form 10-K filed with the SEC on March 13, 2020, and in other filings that we have made and may make with the Securities and Exchange Commission in the future.

    Intec Pharma Investor Contact:

    Will O'Connor 

    Stern IR 

    +1 212-362-1200

    View Full Article Hide Full Article
  2. JERUSALEM, Aug. 5, 2020 /PRNewswire/ -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company") today announces financial results for the second quarter ended June 30, 2020 and provides a corporate update. 

    "We have worked diligently over the past quarter to address the challenges of an evolving landscape for both our business and clinical development initiatives given the global COVID-19 pandemic," stated Jeffrey A. Meckler, Vice Chairman and Chief Executive Officer of Intec Pharma.

    "Despite constraints on our ability to conduct in-person meetings, our partnering activities to identify new opportunities and compounds for our unique gastric retentive oral delivery system as well as our partnering efforts for the AP-CD/LD program in Parkinson's…

    JERUSALEM, Aug. 5, 2020 /PRNewswire/ -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company") today announces financial results for the second quarter ended June 30, 2020 and provides a corporate update. 

    "We have worked diligently over the past quarter to address the challenges of an evolving landscape for both our business and clinical development initiatives given the global COVID-19 pandemic," stated Jeffrey A. Meckler, Vice Chairman and Chief Executive Officer of Intec Pharma.

    "Despite constraints on our ability to conduct in-person meetings, our partnering activities to identify new opportunities and compounds for our unique gastric retentive oral delivery system as well as our partnering efforts for the AP-CD/LD program in Parkinson's disease remain ongoing. Looking into the second half of the year, we continue to seek to advance these productive conversations towards a deal that demonstrates appropriate value for both the Company and our shareholders.

    "We look forward to advancing our newly designed AP-THC program into clinical development later this year as we recently received the active pharmaceutical ingredients needed for the clinical material production.

    "Earlier this year, we announced we met the in vitro specifications for Merck's compound. At this time, we do not anticipate the compound entering an in vivo study this year.  We continue to discuss development opportunities for the Accordion Pill with Merck.

    "Our recent registered direct offering not only strengthens our balance sheet but, more importantly, provides the financial support and flexibility to position the Company for its next stage of development," added Mr. Meckler.

    Financial Highlights for Second Quarter Ended June 30, 2020

    Research and development expenses, net, for the three-month period ended June 30, 2020 were approximately $1.3 million, a decrease of $6.6 million, or approximately 84%, compared with approximately $7.9 million in the three-month period ended June 30, 2019. Research and development expenses, net, for the six-month period ended June 30, 2020 were approximately $3.3 million, a decrease of approximately $13.1 million, or approximately 80%, compared with approximately $16.4 million in the six-month period ended June 30, 2019. The decrease was primarily due to the completion of the ACCORDANCE study and Open Label Extension study during 2019, decrease in expenses related to the scale up activities for the commercial scale manufacturing and a decrease in payroll and related expenses, mostly due to a reduction in headcount, and share-based compensation.

    General and administrative expenses for the three-month period ended June 30, 2020 were approximately $1.6 million, a decrease of $500,000, or approximately 24%, compared with approximately $2.1 million in the three-month period ended June 30, 2019. General and administrative expenses for the six-month period ended June 30, 2020 amounted to approximately $3.3 million, a decrease of approximately $1.0 million, or approximately 23%, compared to approximately $4.3 million for the six-month ended June 30, 2019. The decrease for the three and six-month periods was primarily related to a decrease in payroll and related expenses, including reduction in headcount, share-based compensation and reduction in associated expenses.

    Net loss for the three-month period ended June 30, 2020 was approximately $2.9 million, a decrease of $7.1 million, or approximately 71%, compared with the net loss for the three-month period ended June 30, 2019 of approximately $10.0 million. The decrease for the three and six-month periods was mainly due to a decrease in research and development expenses, net, and general and administrative expenses, as detailed above.

    Loss per ordinary share for the three-month period ended June 30, 2020, was $0.05 compared with $0.30 for the three-month period ended June 30, 2019. Loss per ordinary share for the six-month period ended June 30, 2020, was $0.12 compared with $0.62 for the six-month period ended June 30, 2019.

    As of June 30, 2020, the Company had cash and cash equivalents of approximately $13.8 million. As of December 31, 2019, the Company had cash and cash equivalents and marketable securities of approximately $10.1 million.

    Net cash used in operating activities was approximately $6.8 million for the six-month period ended June 30, 2020 compared with net cash used in operating activities of approximately $17.7 million for the six-month period ended June 30, 2019. This decrease resulted primarily from a decrease in research and development activities in the amount of approximately $13.1 million, offset by changes in operating asset and liability items of approximately $2.0 million.

    The Company had positive cash flow from investing activities of approximately $769,000 for the six-month period ended June 30, 2020 compared to negative cash flow from investing activities of approximately $1.0 for the six-month period ended June 30, 2019. This change resulted primarily from an investment in the establishment of the commercial scale manufacturing in the amount of approximately $1.4 million in the six-month period ended June 30, 2019 and an increase in proceeds from the disposal of marketable securities in the amount of approximately $200,000.

    Net cash provided by financing activities for the six-month period ended June 30, 2020 was approximately $10.6 million, which was provided primarily by the proceeds from the Company's registered direct offering in May 2020 that resulted in net proceeds of approximately $4.5 million, proceeds from the company's underwritten public offering in February 2020 that resulted in net proceeds of approximately $5.7 million and by the funds received from the sale of our ordinary shares under the Company's "at-the-market" equity offering program that resulted in net proceeds of approximately $421,000.

    In May 2020, the Company raised $5.0 million in a registered direct offering of 16,291,952 ordinary shares at a purchase price of $0.3069 per share. In addition, in a concurrent private placement, the Company also sold and issued to the purchasers in the offering unregistered warrants to purchase 8,145,976 ordinary shares. The warrants have an exercise price of $0.245 per share, are immediately exercisable, and will expire five and one-half years from the date of issuance. 

    About Intec Pharma Ltd.

    Intec Pharma is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company's Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism. The Company's product pipeline includes two product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, which is in late-stage Phase 3 development for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients, and AP-cannabinoids, an Accordion Pill to deliver either or both of the primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC) for various pain indications. In addition, the Company has a research collaboration with Merck & Co.

    For more information, visit www.intecpharma.com. Intec Pharma routinely posts information that may be important to investors in the Investor Relations section of its website.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward looking statements about our expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of our control. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: our limited operating history and history of operating losses, our ability to continue as a going concern, our ability to obtain additional financing, the impact of the outbreak of coronavirus, our ability to successfully operate our business or execute our business plan, the timing and cost of our clinical trials, the completion and receiving favorable results in our clinical trials, our ability to obtain and maintain regulatory approval of our product candidates, our ability to protect and maintain our intellectual property and licensing arrangements, our ability to develop, manufacture and commercialize our product candidates, the risk of product liability claims, the availability of reimbursement, and the influence of extensive and costly government regulation. More detailed information about the risks and uncertainties affecting us is contained under the heading "Risk Factors" included in our most recent Annual Report on Form 10-K filed with the SEC on March 13, 2020, and in other filings that we have made and may make with the Securities and Exchange Commission in the future.

    Intec Pharma Investor Contact:

    Will O'Connor 

    Stern IR 

    +1-212-362-1200 

     

     

    INTEC PHARMA LTD.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (Unaudited)



    June 30,

    December 31,



    2020

    2019



    U.S. dollars

     in thousands







                                            Assets





    CURRENT ASSETS:





         Cash and cash equivalents

    $     13,799

    $     9,292

         Investment in marketable securities

    -

    770

         Prepaid expenses and other receivables

    1,307

    3,683







    TOTAL CURRENT ASSETS

    15,106

    13,745







    NON-CURRENT ASSETS:





         Property and equipment, net

    1,967

    2,575

         Operating lease right-of-use assets

    993

    1,243

         Other assets 

    3,717

    3,717







    TOTAL NON-CURRENT ASSETS

    6,677

    7,535







    TOTAL ASSETS

    $    21,783

    $     21,280







                                            Liabilities and shareholders' equity





    CURRENT LIABILITIES -





    Accounts payable and accruals:





         Trade

    $         382

    $       3,507

         Other

    3,997

    4,835

    TOTAL CURRENT LIABILITIES 

    4,379

    8,342







    LONG-TERM LIABILITIES -





         Non-current operating lease liabilities

    536

    799

         Other liabilities

    690

    604







    TOTAL LONG-TERM LIABILITIES

    1,226

    1,403







    TOTAL LIABILITIES

    5,605

    9,745







    COMMITMENTS AND CONTINGENT LIABILITIES











    SHAREHOLDERS' EQUITY:

    Ordinary shares, with no par value - authorized: 100,000,000

    Ordinary Shares as of June 30, 2020 and December 31, 2019; issued

    and outstanding: 69,428,032 and 35,892,209 Ordinary Shares as of

    June 30, 2020 and December 31, 2019, respectively

    727

    727

                 Additional paid-in capital

    211,691

    200,231

                 Accumulated deficit

    (196,240)

    (189,423)







    TOTAL SHAREHOLDERS' EQUITY

    16,178

    11,535







    TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

    $     21,783

    $     21,280

     

     

     

    INTEC PHARMA LTD.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (Unaudited)





    Three months ended

    June 30

    Six months ended

    June 30



    2020

    2019

    2020

    2019



    U.S. dollars

     in thousands

    U.S. dollars

     in thousands

    OPERATING EXPENSES:









    RESEARCH AND DEVELOPMENT 

         EXPENSES,
    net

    $      (1,275)

    $      (7,860)

    $     (3,299)

    $     (16,402)

    GENERAL AND ADMINISTRATIVE 

         EXPENSES

    (1,630)

    (2,144)

    (3,345)

    (4,334)

    OPERATING LOSS

    (2,905)

    (10,004)

    (6,644)

    (20,736)

    FINANCIAL INCOME (EXPENSES), net

    4

    33

    (66)

    143

    LOSS BEFORE INCOME TAX

    (2,901)

    (9,971)

    (6,710)

    (20,593)

    INCOME TAX

    (46)

    (38)

    (107)

    (72)

    NET LOSS

    $    (2,947)

    $    (10,009)

    $    (6,817)

    $    (20,665)



    $

    $

    LOSS PER SHARE BASIC AND DILUTED

    (0.05)

    (0.30)

    (0.12)

    (0.62)

    WEIGHTED AVERAGE NUMBER OF SHARES

    OUTSTANDING USED IN COMPUTATION

    OF BASIC AND DILUTED LOSS PER

    ORDINARY SHARE IN THOUSANDS

    62,820

    33,300

    54,913

    33,274

     

     

    (Continued) - 1

    INTEC PHARMA LTD.

    CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

    (Unaudited)



    Ordinary Shares

    Additional

    paid-in

    capital

    Accumulated

    Deficit

    Total



    Number

    of shares

    Amounts

     Amounts





    U.S. dollars in thousands

























    BALANCE AT JANUARY 1, 2019

    33,232,988

    $    727

    $   194,642

    (141,824)

    $                 53,545

    CHANGES IN THE SIX-MONTH PERIOD

    ENDED JUNE 30, 2019:











         Exercise of options

    69,812

    -

    268

    -

    268

         Share-based compensation



    -

    1,961

    -

    1,961

         Net loss

    -

    -

    -

    (20,665)

    (20 ,665)

    BALANCE AT JUNE 30, 2019

    33,302,800

    $    727

    $   196,871

    $    (162,489)

    $                 35,109













    BALANCE AT JANUARY 1, 2020

    35,892,209

    $    727

    $   200,231

    $    (189,423)

    $                 11,535

    CHANGES IN THE SIX-MONTH PERIOD

    ENDED JUNE 30, 2020:











         Issuance of ordinary shares, net of 

              issuance costs 

    831,371

    -

    421

    -

    421

         Issuance of ordinary shares and 

         warrants, net of issuance of costs

    16,250,000

    -

    5,692

    -

    5,692

         Issuance of ordinary shares and

         warrants, net of issuance of costs

    16,291,952

    -

    4,426

    -

    4,426

              Exercise of warrants

    162,500



    65



    65

         Share-based compensation

    -

    -

    856

    -

    856

         Net loss

    -

    -

    -

    (6,817)

    (6,817)

    BALANCE AT JUNE 30, 2020

    69,428,032

    $    727

    $   211,691

    $   (196,240)

    $                 16,178

     

     

    (Continued) - 2

    INTEC PHARMA LTD.

    CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

    (Unaudited)



    Ordinary Shares

    Additional

    paid-in

    capital

    Accumulated

    Deficit



    Total



    Number of shares

    Amounts

    Amounts





    U.S. dollars in thousands

    BALANCE AT APRIL 1, 2019

    33,297,371

    $        727

    $       195,842

    (152,480)

    $          44,089

    CHANGES IN THE THREE-MONTH PERIOD

    ENDED JUNE 30, 2019:











    Exercise of options

    5,429

    -

    11

    -

    11

    Share-based compensation

    -

    -

    1,018

    -

    1,018

    Net loss

    -

    -

    -

    (10,009)

    (10,009)

    BALANCE AT JUNE 30, 2019

    33,302,800

    $           727

    $        196,871

    $                 (162,489)

    $   35,109













    BALANCE AT APRIL 1, 2020

    52,973,580

    $           727

    $        206,786

    $                 (193,293)

    $   14,220

    CHANGES IN THE THREE-MONTH PERIOD

    ENDED JUNE 30, 2020:











             Issuance of ordinary shares and 

    16,291,952

    -

    4,426

    -

    4,426

         warrants, net of issuance costs 

    Exercise of warrants  

    162,500

    -

    65

    -

    65

    Share-based compensation

    -

    -

    414

    -

    414

    Net loss

    -

    -

    -

    (2,947)

    (2,947)

    BALANCE AT JUNE 30, 2020

    69,428,032

    $           727

    $        211,691

    $                 (196,240)

    $    16,178

     

     

     

    INTEC PHARMA LTD.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (Unaudited)





    Six months ended June 30



    2020

    2019



    U.S. dollars in thousands

    CASH FLOWS FROM OPERATING ACTIVITIES:





    Net loss

    $     (6,817)

    $     (20,665)

    Adjustments required to reconcile net loss to net cash used in operating activities:





    Depreciation

    611

    431

    Exchange differences on cash and cash equivalents

    49

    (19)

    Change in right of use asset

    250

    351

    Change in lease liabilities

    (263)

    (243)

    Gains on marketable securities

    (2)

    (5)

    Share-based compensation

    856

    1,961

    Changes in operating assets and liabilities:





    Decrease (increase) in prepaid expenses and other receivables

    2,376

    (136)

    Increase in deferred tax assets

    -

    (148)

    Increase (decrease) in accounts payable and accruals

    (3,963)

    583

    Increase in other liabilities

    86

    163

    Net cash used in operating activities

    (6,817)

    (17,727)

    CASH FLOWS FROM INVESTING ACTIVITIES:





    Purchase of property and equipment

    (3)

    (151)

    Investment in other assets

    -

    (1,435)

    Proceeds from disposal of marketable securities, net

    772

    576

    Net cash provided by (used in) investing activities

    769

    (1,010)

    CASH FLOWS FROM FINANCING ACTIVITIES:





    Proceeds from issuance of ordinary shares, net of issuance costs

    421

    -

    Proceeds from issuance of ordinary shares and warrants, net of issuance costs

    5,692

    -

    Proceeds from issuance of ordinary shares and warrants, net of issuance costs

    4,426

    -

    Proceeds from exercise of warrants

    65

    -

    Proceeds from exercise of options

    -

    268

    Net cash provided by financing activities

    10,604

    268

    INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

    4,556

    (18,469)

    CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD

    9,292

    39,246

    EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS

    (49)

    19

    CASH AND CASH EQUIVALENTS AT END OF THE PERIOD

    $        13,799

    $         20,796







    SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:





    Liability with respect to property and equipment 

    -

    $              502

    Liability with respect to other assets

    -

    $           1,114







    SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION -





    Taxes paid

    -

    $                50

    Interest received

    $              27

    $              263

     

     

    Cision View original content:http://www.prnewswire.com/news-releases/intec-pharma-reports-second-quarter-2020-financial-results-and-provides-corporate-update-301106454.html

    SOURCE Intec Pharma Ltd.

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  3. JERUSALEM, May 28, 2020 /PRNewswire/ -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company") today announces that the Company management will present at the Jefferies Virtual Healthcare Conference.

    Jefferies Virtual Healthcare Conference
    Date: June 2 – June 4, 2020
    Company Presentation: Thursday, June 4, 2020 at 4:00 pm (ET)
    Presenter: Jeffrey A. Meckler, Vice Chairman and Chief Executive Officer of Intec Pharma
    Format: Corporate presentation and One-on-One Investor Meetings

    Mr. Meckler's presentation will be webcast live and will be accessible through the Events section of Intec Pharma's website at www.intecpharma.com, where it will also be archived for a period of time. 

    About Intec Pharma Ltd.
    Intec Pharma is a clinical-stage biopharmaceutical…

    JERUSALEM, May 28, 2020 /PRNewswire/ -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company") today announces that the Company management will present at the Jefferies Virtual Healthcare Conference.

    Jefferies Virtual Healthcare Conference
    Date: June 2 – June 4, 2020
    Company Presentation: Thursday, June 4, 2020 at 4:00 pm (ET)
    Presenter: Jeffrey A. Meckler, Vice Chairman and Chief Executive Officer of Intec Pharma
    Format: Corporate presentation and One-on-One Investor Meetings

    Mr. Meckler's presentation will be webcast live and will be accessible through the Events section of Intec Pharma's website at www.intecpharma.com, where it will also be archived for a period of time. 

    About Intec Pharma Ltd.
    Intec Pharma is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company's Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism. The Company's product pipeline includes two product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, which is in late-stage Phase 3 development for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients, and AP-cannabinoids, an Accordion Pill to deliver either or both of the primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC) for various pain indications. In addition, the Company has a research collaboration with Merck & Co.

    For more information, visit www.intecpharma.com. Intec Pharma routinely posts information that may be important to investors in the Investor Relations section of its website.

    Intec Pharma Investor Contact:

    Will O'Connor
    Stern IR
    +1 212-362-1200

    Cision View original content:http://www.prnewswire.com/news-releases/intec-pharma-to-present-at-jefferies-virtual-healthcare-conference-301066816.html

    SOURCE Intec Pharma Ltd.

    View Full Article Hide Full Article
  4. JERUSALEM, May 11, 2020 /PRNewswire/ -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company") today announces financial results for the first quarter ended March 31, 2020 and provides a corporate update. 

    Highlights from the Quarter and Recent Weeks

    • Announced that the Accordion Pill (AP) developed for a Merck & Co. (MSD) proprietary compound met the in vitro specifications set forth in the companies' research collaboration and the Company is now in discussions with MSD regarding advancing the program into the clinic;
    • Enhanced the balance sheet with a $6.5 million public offering in February 2020 and with a $5 million registered direct offering in May 2020;
    • Received a $1.5 million payment from Novartis related to the conclusion of the…

    JERUSALEM, May 11, 2020 /PRNewswire/ -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company") today announces financial results for the first quarter ended March 31, 2020 and provides a corporate update. 

    Highlights from the Quarter and Recent Weeks

    • Announced that the Accordion Pill (AP) developed for a Merck & Co. (MSD) proprietary compound met the in vitro specifications set forth in the companies' research collaboration and the Company is now in discussions with MSD regarding advancing the program into the clinic;
    • Enhanced the balance sheet with a $6.5 million public offering in February 2020 and with a $5 million registered direct offering in May 2020;
    • Received a $1.5 million payment from Novartis related to the conclusion of the Feasibility Option Agreement the Company had with Novartis;
    • Initiated AP-Carbidopa/Levodopa (AP CD/LD) commercial manufacturing stability lots with LTS Lohmann Therapie-Systeme AG (LTS);
    • Completed the redesign of AP-Tetrahydrocannabinol (AP-THC) and are awaiting delivery of synthetic THC to initiate clinical material production; and
    • Initiated next generation AP technologies to include longer retention times (e.g. 24 hour gastric retention) as well as larger molecules (e.g. peptides).

    Management Commentary

    "We continue to build the company's scientific and technical expertise in oral drug delivery and drug-on-film technologies. Our research and manufacturing teams continue to drive innovation as we expand our capabilities and build out our portfolio of potential applications," stated Jeffrey A. Meckler, Vice Chairman and Chief Executive Officer of Intec Pharma.

    "In collaboration with our partner, LTS, we demonstrated our ability to manufacture at commercial scale. This proficiency, coupled with our recent successes in developing unique APs to meet the technical specifications set forth by Novartis and Merck, enhances our ability to engage in partnership discussions with other large biopharma companies as we actively seek to add more collaborative agreements in 2020.

    "Our partnering activities for the AP-CD/LD program in Parkinson's disease continue and there remain multiple parties with interest in this program. Unfortunately, this has not progressed to an agreement and believe this is related to certain commercialization concerns as well as to the overall market environment as a result of the COVID-19 pandemic. In addition, we continue our discussions with Merck with an aim to advance that program into human pharmacokinetic (PK) trials. 

    "We are delighted to report the completion of a new AP design for our AP-THC program that we expect will meet our stringent PK specifications. We are currently awaiting receipt of the active pharmaceutical ingredients so we can initiate clinical material production and, hopefully, advance this program into the clinic later this year.

    "In February and May 2020 we strengthened our balance sheet believing that a stronger financial position enhances our ability to negotiate with partners and provides us with a longer runway to achieve key objectives.

    "As the COVID-19 situation rapidly evolves, we are committed to protecting and supporting our workforce and the communities where we live and work and we implemented remote working and workplace protocols for our employees in accordance with government requirements. Our partnering efforts depend in part, on attendace at in-person meetings, industry conferences and other events, and as a result there has been disruption to our efforts to advance this process. We continue to closely evaluate the evolving pandemic as it unfolds and look forward to the end of this healthcare crisis," added Mr. Meckler.

    Financial Highlights for First Quarter Ended March 31, 2020

    Research and development expenses, net, for the three-month period ended March 31, 2020 were approximately $2.0 million, a decrease of $6.5 million, or approximately 76%, compared with approximately $8.5 million in the three-month period ended March 31, 2019. The decrease was primarily due to the ACCORDANCE study and Open Label Extension study, both of which were completed during 2019, decrease in expenses related to the scale up activities for the commercial scale manufacturing and a decrease in payroll and related expenses, mostly due to a reduction in headcount.

    General and administrative expenses for the three-month period ended March 31, 2020 were approximately $1.7 million, a decrease of $500,000, or approximately 23%, compared with approximately $2.2 million in the three-month period ended March 31, 2019. The decrease was primarily related to a decrease in payroll and related expenses, including reduction in headcount, share-based compensation and reduction in certain expenses related to investor relations activities and professional services.

    Net loss for the three-month period ended March 31, 2020 was approximately $3.9 million, a decrease of $6.8 million, or approximately 64%, compared with the net loss for the three-month period ended March 31, 2019 of approximately $10.7 million. The decrease was mainly due to a decrease in research and development expenses, net and general and administrative expenses, as detailed above.

    Loss per ordinary share for the first quarter ended March 31, 2020, was $0.08 compared with $0.32 for the first quarter ended March 31, 2019.

    As of March 31, 2020, the Company had cash and cash equivalents of approximately $10.9 million. As of December 31, 2019, the Company had cash and cash equivalents and marketable securities of approximately $10.1 million. In February 2020, the Company raised $6.5 million in an underwritten public offering of 16,250,000 ordinary shares (which included pre-funded warrants to purchase ordinary shares in lieu thereof) and warrants to purchase up to 16,250,000 ordinary shares, at a public offering price of $0.40 per ordinary share and warrant. The warrants have an exercise price of $0.40 per share, are immediately exercisable, and will expire five years from the date of issuance.  

    Net cash used in operating activities was approximately $5.1 million for the quarter ended March 31, 2020 compared with net cash used in operating activities of approximately $7.3 million for the quarter ended March 31, 2019. This decrease resulted primarily from a decrease in research and development activities in the amount of approximately $6.5 million, offset by changes in operating asset and liability items of approximately $4.3 million.

    The Company had positive cash flow from investing activities of approximately $769,000 for the quarter ended March 31, 2020 compared to negative cash flow from investing activities of approximately $640,000 for the quarter ended March 31, 2019. This change resulted primarily from an investment in the establishment of the commercial scale manufacturing in the amount of approximately $1.2 million in the quarter ended March 31, 2019 and an increase in proceeds from the disposal of marketable securities in the amount of approximately $200,000.

    Net cash provided by financing activities for the quarter ended March 31, 2020 was approximately $6.1 million, which was provided by the proceeds from the Company's underwritten public offering in February 2020 that resulted in net proceeds of approximately $5.7 million and by the funds received from the sale of our ordinary shares under the "at-the-market" equity offering program that resulted in net proceeds of approximately $421,000. Net cash provided by financing activities for the quarter ended March 31, 2019 was approximately $161,000, which was provided by the proceeds from the exercise of options by employees.

    In May, 2020, the Company raised $5 million in a registered direct offering of 16,291,952 ordinary shares at a purchase price of $0.3069 per share. In addition, in a concurrent private placement, the Company also sold and issued to the purchasers in the offering unregistered warrants to purchase 8,145,976 ordinary shares. The warrants have an exercise price of $0.245 per share, are immediately exercisable, and will expire five and one-half years from the date of issuance.

    About Intec Pharma Ltd.

    Intec Pharma is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company's Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism. The Company's product pipeline includes two product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, which is in late-stage Phase 3 development for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients, and AP-cannabinoids, an Accordion Pill to deliver either or both of the primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC) for various pain indications. In addition, the Company has a research collaboration with Merck & Co.

    For more information, visit www.intecpharma.com. Intec Pharma routinely posts information that may be important to investors in the Investor Relations section of its website.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward looking statements about our expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of our control. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: our limited operating history and history of operating losses, our ability to continue as a going concern, our ability to obtain additional financing, the impact of the outbreak of coronavirus, our ability to successfully operate our business or execute our business plan, the timing and cost of our clinical trials, the completion and receiving favorable results in our clinical trials, our ability to obtain and maintain regulatory approval of our product candidates, our ability to protect and maintain our intellectual property and licensing arrangements, our ability to develop, manufacture and commercialize our product candidates, the risk of product liability claims, the availability of reimbursement, and the influence of extensive and costly government regulation. More detailed information about the risks and uncertainties affecting us is contained under the heading "Risk Factors" included in our most recent Annual Report on Form 10-K filed with the SEC on March 13, 2020, and in other filings that we have made and may make with the Securities and Exchange Commission in the future.

     

     

    INTEC PHARMA LTD.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (Unaudited)





    March 31,

    December 31,


    2020

    2019


    U.S. dollars

     in thousands

    Assets



    CURRENT ASSETS:



    Cash and cash equivalents

    $     10,892

    $     9,292

    Investment in marketable securities

    -

    770

    Prepaid expenses and other receivables

    2,638

    3,683

          TOTAL CURRENT ASSETS

    13,530

    13,745




    NON-CURRENT ASSETS:



           Property and equipment, net

    2,272

    2,575

           Operating lease right-of-use assets

    1,117

    1,243

           Other assets 

    3,717

    3,717

    TOTAL NON-CURRENT ASSETS

    7,106

    7,535




    TOTAL ASSETS

    $    20,636

    $    21,280




    Liabilities and shareholders' equity



    CURRENT LIABILITIES -



          Accounts payable and accruals:



                 Trade

    $       930

    $       3,507

                 Other

    4,187

    4,835

          TOTAL CURRENT LIABILITIES                  

    5,117

    8,342

    LONG-TERM LIABILITIES -



                 Operating lease liabilities

    647

    799

                 Other liabilities

    652

    604

    TOTAL LONG-TERM LIABILITIES

    1,299

    1,403

    TOTAL LIABILITIES

    6,416

    9,745




    COMMITMENTS AND CONTINGENT LIABILITIES 



    SHAREHOLDERS' EQUITY:



     Ordinary shares, with no par value - authorized: 100,000,000
       Ordinary Shares as of March 31, 2020 and December 31, 2019; issued
       and outstanding: 52,973,580 and 35,892,209 Ordinary Shares as of
       March 31, 2020 and December 31, 2019, respectively

    727

    727

    Additional paid-in capital

    206,786

    200,231

    Accumulated deficit

    (193,293)

    (189,423)

    TOTAL SHAREHOLDERS' EQUITY

    14,220

    11,535

    TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

    $     20,636

    $     21,280

     

     

    INTEC PHARMA LTD.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (Unaudited)



    Three months
    ended March 31


    2020

    2019


    U.S. dollars

     in thousands

    OPERATING EXPENSES:



    RESEARCH AND DEVELOPMENT EXPENSES, net

    $      (2,024)

    $      (8,542)

    GENERAL AND ADMINISTRATIVE EXPENSES

    (1,715)

    (2,190)

    OPERATING LOSS

    (3,739)

    (10,732)

    FINANCIAL INCOME (EXPENSES), net

    (70)

    110

    LOSS BEFORE INCOME TAX

    (3,809)

    (10,622)

    INCOME TAX

    (61)

    (34)

    NET LOSS

    $      (3,870)

    $      (10,656)



    U.S. dollars

    LOSS PER ORDINARY SHARE - BASIC AND DILUTED

    $          (0.08)

    $          (0.32)

    WEIGHTED AVERAGE NUMBER OF SHARES 
         OUTSTANDING USED IN COMPUTATION OF BASIC 
         AND DILUTED LOSS PER ORDINARY SHARE IN 
         THOUSANDS

    46,918

    33,247

     

     

    INTEC PHARMA LTD.

    CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

    (Unaudited)



    Ordinary Shares

    Additional
    paid-in
    capital

    Accumulated
    Deficit

    Total


    Number
    of shares

    Amounts

    Amounts


    U.S. dollars in thousands







    BALANCE AT JANUARY 1, 2019

    33,232,988

    $            727

    $         194,642

    (141,824)

    $  53,545

    CHANGES IN THE THREE-
         MONTH PERIOD ENDED 
         MARCH 31, 2019
    :






    Exercise of options

    64,383

    -

    257

    -

    257

    Share-based compensation

    -

    -

    943

    -

    943

    Net loss

    -

    -

    -

    (10,656)

    (10,656)

    BALANCE AT MARCH 31, 2019

    33,297,371

    $            727

    $           195,842

    $       (152,480)

    $   44,089







    BALANCE AT JANUARY 1, 2020

    35,892,209

    $            727

    $         200,231

    (189,423)

    $  11,535

    CHANGES IN THE THREE-
         MONTH PERIOD ENDED 
         MARCH 31, 2020
    :






    Issuance of ordinary shares, net of 
         issuance costs

    831,371

    -

    421

    -

    421

    Issuance of ordinary shares and 
         warrants, net of issuance costs

    16,250,000

    -

    5,692

    -

    5,692

    Share-based compensation

    -

    -

    442

    -

    442

    Net loss

    -

    -

    -

    (3,870)

    (3,870)

    BALANCE AT MARCH 31, 2020

    52,973,580

    $            727

    $           206,786

    $       (193,293)

    $   14,220

     

     

    INTEC PHARMA LTD.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (Unaudited)



    Three months ended
    March 31


    2020

    2019


    U.S. dollars in thousands

    CASH FLOWS FROM OPERATING ACTIVITIES:



    Net loss

    $     (3,870)

    $     (10,656)

    Adjustments required to reconcile net loss to net cash used in 
         operating activities:



    Depreciation

    306

    218

    Exchange differences on cash and cash equivalents

    135

    8

    Change in right of use asset

    126

    163

    Change in lease liabilities

    (152)

    (98)

    Gains on marketable securities

    (2)

    -

    Share-based compensation

    442

    943

    Changes in operating assets and liabilities:



    Decrease in prepaid expenses and other receivables

    1,045

    340

    Increase in deferred tax assets

    -

    (69)

    Increase (decrease) in accounts payable and accruals

    (3,225)

    1,813

    Increase in other liabilities

    48

    76

    Net cash used in operating activities

    (5,147)

    (7,262)

    CASH FLOWS FROM INVESTING ACTIVITIES:



    Purchase of property and equipment

    (3)

    (10)

    Investment in other assets

    -

    (1,206)

    Proceeds from disposal of marketable securities, net

    772

    576

    Net cash (used in) provided by investing activities

    769

    (640)

    CASH FLOWS FROM FINANCING ACTIVITIES:



    Proceeds from issuance of ordinary shares, net of issuance 
         costs

    421

    -

    Proceeds from issuance of ordinary shares and warrants, net of 
         issuance costs

    5,692

    -

    Proceeds from exercise of options

    -

    161

    Net cash provided by financing activities

    6,113

    161

    INCREASE (DECREASE) IN CASH AND CASH 
         EQUIVALENTS

    1,735

    (7,741)

    CASH AND CASH EQUIVALENTS AT BEGINNING OF 
         THE PERIOD

    9,292

    39,246

    EXCHANGE DIFFERENCES ON CASH AND CASH 
         EQUIVALENTS

    (135)

    (8)

    CASH AND CASH EQUIVALENTS AT END OF THE 
         PERIOD

    $        10,892

    $        31,497




    SUPPLEMENTAL DISCLOSURES OF NON-CASH 
         INVESTING AND FINANCING ACTIVITIES:



     Liability with respect to property and equipment 

    $                  -

    $             462

     Liability with respect to other assets

    $                  -

    $             648

     Receivables with respect to exercise of options

    $                  -

    $               96




    SUPPLEMENTARY DISCLOSURE OF CASH FLOW 
          INFORMATION
     -



    Interest received

    $                 9

    $             128

     

     

    Intec Pharma Investor Contact:

    Will O'Connor 
    Stern IR 
    +1 212-362-1200 
     

     

    Cision View original content:http://www.prnewswire.com/news-releases/intec-pharma-reports-first-quarter-2020-financial-results-and-provides-corporate-update-301056852.html

    SOURCE Intec Pharma Ltd.

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  5. JERUSALEM , May 04, 2020 (GLOBE NEWSWIRE) -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company"), today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 16,291,952 of the Company's ordinary shares, at a purchase price of $0.30690 per share, in a registered direct offering. Intec has also agreed to issue to the investors unregistered warrants to purchase up to an aggregate of 8,145,976 ordinary shares. The offering is expected to close on or about May 6, 2020, subject to satisfaction of customary closing conditions.

    H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

    The warrants will have a term of five and one-half…

    JERUSALEM , May 04, 2020 (GLOBE NEWSWIRE) -- Intec Pharma Ltd. (NASDAQ:NTEC) ("Intec" or "the Company"), today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 16,291,952 of the Company's ordinary shares, at a purchase price of $0.30690 per share, in a registered direct offering. Intec has also agreed to issue to the investors unregistered warrants to purchase up to an aggregate of 8,145,976 ordinary shares. The offering is expected to close on or about May 6, 2020, subject to satisfaction of customary closing conditions.

    H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

    The warrants will have a term of five and one-half years, be exercisable immediately and have an exercise price of $0.245 per ordinary share.

    The gross proceeds to Intec from this offering are expected to be approximately $5.0 million, before deducting the placement agent's fees and other offering expenses. The Company intends to use the net proceeds from the offering to fund its research and development activities and for working capital and general corporate purposes.

    The ordinary shares (but not the warrants or the ordinary shares underlying the warrants) are being offered by Intec pursuant to a "shelf" registration statement on Form S-3 (File No. 333-230016) previously filed with the Securities and Exchange Commission (the "SEC") on March 1, 2019 and declared effective by the SEC on March 28, 2019. The offering of the ordinary shares will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the ordinary shares being offered will be filed with the SEC.  Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at .

    The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation D promulgated thereunder and, along with the ordinary shares underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying ordinary shares may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.
      
    This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Intec Pharma Ltd.

    Intec Pharma is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company's Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism. The Company's product pipeline includes two product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, which is in late-stage Phase 3 development for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients, and AP-cannabinoids, an Accordion Pill to deliver either or both of the primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC) for various pain indications. In addition, the Company has a research collaboration with Merck & Co.

    For more information, visit www.intecpharma.com. Intec Pharma routinely posts information that may be important to investors in the Investor Relations section of its website.

    Cautionary Note Regarding Forward-Looking Statements

     This press release contains forward looking statements about our expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise, except as required by law. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of our control. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: market and other conditions, the completion of the registered direct offering, the satisfaction of customary closing conditions related to the registered direct offering and the intended use of net proceeds from the registered direct offering, our limited operating history and history of operating losses, our ability to continue as a going concern, our ability to obtain additional financing, our ability to successfully operate our business or execute our business plan, the timing and cost of our clinical trials, the completion and receiving favorable results in our clinical trials, our ability to obtain and maintain regulatory approval of our product candidates, our ability to protect and maintain our intellectual property and licensing arrangements, our ability to develop, manufacture and commercialize our product candidates, the risk of product liability claims, the availability of reimbursement, and the influence of extensive and costly government regulation. More detailed information about the risks and uncertainties affecting us is contained under the heading "Risk Factors" included in our most recent Annual Report on Form 10-K filed with the SEC on March 13, 2020, and in other filings that we have made and may make with the Securities and Exchange Commission in the future.

    Intec Pharma Investor Contact:

    Will O'Connor 
    Stern IR 
    +1 212-362-1200 

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