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Mar 31, 2023
Enanta Pharmaceuticals Q2 2023 Earnings Report
Reported financial results for the fiscal second quarter, highlighted positive topline data from Phase 2 SPRINT clinical study of EDP-235 and strengthened balance sheet through the sale of 54.5% of future MAVYRET®/MAVIRET® Royalties.
Key Takeaways
Enanta Pharmaceuticals reported a total revenue of $17.8 million for the quarter ended March 31, 2023, primarily from MAVYRET®/MAVIRET® royalties. The company's net loss was $37.7 million, or $1.79 per diluted share. They also strengthened their balance sheet by selling 54.5% of future royalties for $200 million.
Reported positive topline data from Phase 2 SPRINT Clinical Study of EDP-235 for COVID-19.
Strengthened balance sheet through the sale of 54.5% of future MAVYRET®/MAVIRET® Royalties for $200 million.
On track to report Phase 1 data of EDP-323 for Respiratory Syncytial Virus in June.
Royalty revenue for the quarter was $17.8 million.
Revenue by Segment
Forward Guidance
Enanta expects that its current cash, cash equivalents and marketable securities, as well as the royalty sale and Enanta’s continuing portion of cash from future royalty revenue, will be sufficient to meet the anticipated cash requirements of its existing business and development programs into calendar 2026.
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