Enanta Q2 net loss widens to $37.7M; reports positive Phase 2 COVID-19 data, $200M royalty sale

ENANTA PHARMACEUTICALS INC

2023-Q2 EPS reported -$3.19 revenue$41,380,000

Net loss $37.7M ($1.79 loss/diluted share) vs $33.6M loss ($1.63) YoY; revenue $17.8M from HCV royalties.
Positive Phase 2 SPRINT data for EDP-235 (COVID-19): met primary endpoint; 400mg showed symptom improvement vs placebo.
Sold 54.5% of future MAVYRET royalties to OMERS for $200M upfront; cash runway extended into calendar 2026.
Cash and marketable securities $225.1M at March 31, 2023; plus remaining 45.5% royalty stream after cap.
Phase 1 data for RSV L-protein inhibitor EDP-323 expected in June; dual hMPV/RSV candidate selection in Q4 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ENANTA PHARMACEUTICALS INC reported fiscal second quarter ended March 31, 2023 results: revenue $17.8 million, net income net loss of $37.7 million, or a loss of $1.79 per diluted common share, EPS a loss of $1.79 per diluted common share.

Period: fiscal second quarter ended March 31, 2023
Revenue: $17.8 million
Net income: net loss of $37.7 million, or a loss of $1.79 per diluted common share
EPS: a loss of $1.79 per diluted common share
Result: reported results

Exact text from the filing

Total revenue for the three months ended March 31, 2023 was $17.8 million and consisted of royalty revenue from worldwide net sales of AbbVie’s hepatitis C virus (HCV) regimen MAVYRET®/MAVIRET® (glecaprevir/pibrentasvir), compared to $18.7 million for the three months ended March 31, 2022. Research and development expenses totaled $43.5 million for the three months ended March 31, 2023, compared to $42.1 million for the three months ended March 31, 2022. The increase was primarily due to the timing of clinical trial expenses in our virology programs. General and administrative expenses totaled $13.8 million for the three months ended March 31, 2023, compared to $10.5 million for the three months ended March 31, 2022. The increase was due to increased stock-related compensation expense and legal fees associated with our patent infringement suit against Pfizer. Net loss for the three months ended March 31, 2023 was $37.7 million, or a loss of $1.79 per diluted common share, compared to a

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Source: SEC EDGAR

accession 0000950170-23-018788

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