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Dec 31, 2024
Enanta Pharmaceuticals Q1 2025 Earnings Report
Enanta Pharmaceuticals reported its financial results for the fiscal first quarter ended December 31, 2024, showing a decrease in revenue and net loss compared to the previous year.
Key Takeaways
Enanta Pharmaceuticals reported a net loss of $22.3 million for the fiscal first quarter ended December 31, 2024, with total revenue of $17.0 million, primarily from MAVYRET®/MAVIRET® royalties. The company is on track with its RSV and immunology programs, with key data readouts and development candidate selections expected in 2025.
Total revenue for the quarter was $17.0 million, a decrease from $18.0 million in the same period last year.
The company reported a net loss of $22.3 million, or $1.05 per diluted common share, an improvement from a net loss of $33.4 million in the prior year.
Research and development expenses decreased to $27.7 million from $36.4 million year-over-year.
Enanta's cash, cash equivalents, and short-term marketable securities totaled $216.7 million at December 31, 2024, expected to fund operations into fiscal year 2028.
Revenue by Segment
Forward Guidance
Enanta Pharmaceuticals anticipates a pivotal year in 2025 with significant progress in its RSV and immunology programs, aiming to advance clinical candidates and expand its portfolio, supported by existing cash and future royalty revenue.
Positive Outlook
- On track to report topline results for RSVHR, a Phase 2 study of zelicapavir in high-risk adults infected with RSV, in 3Q 2025.
- Advancing immunology portfolio with ongoing IND enabling studies of KIT Inhibitor EPS-1421.
- On track to announce STAT6 Development Candidate in 2H 2025.
- Expects to select a lead development candidate for STAT6 in the second half of 2025.
- Plans to expand its presence in immunology with the introduction of a third program in 2025.
Challenges Ahead
- The company's cash runway is expected to extend into fiscal 2028, implying a finite period without additional funding.
- The company will evaluate potential partnership opportunities to advance its RSV program, indicating a need for external collaboration for further development.
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