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Sep 30, 2020
Enanta Pharmaceuticals Q4 2020 Earnings Report
Reported financial results for its fiscal fourth quarter and year ended September 30, 2020.
Key Takeaways
Enanta Pharmaceuticals reported a net loss of $29.3 million for the quarter ended September 30, 2020, compared to a net income of $9.2 million for the same period in 2019. Total revenue for the quarter was $23.6 million, consisting of royalty revenue from AbbVie's hepatitis C virus (HCV) regimen MAVYRET®/MAVIRET®. Cash and marketable securities totaled approximately $419 million at September 30, 2020.
On track to initiate a Phase 2b study in adult transplant patients with respiratory syncytial virus by year-end and a Phase 2 study in pediatric patients with respiratory syncytial virus in early 2021.
Readouts from two clinical trials in hepatitis B virus program expected in the second quarter of 2021.
Initiated Phase 1 study of EDP-297, a highly potent and targeted follow-on farnesoid X receptor agonist for the treatment of non-alcoholic steatohepatitis; initial clinical data expected in the second quarter of 2021.
Royalty revenue for the quarter was $23.6 million.
Forward Guidance
Enanta expects that its current cash, cash equivalents and marketable securities, as well as its continuing royalty revenue, will be sufficient to meet the anticipated cash requirements of its existing business and development programs for the foreseeable future.
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