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Enanta Pharmaceuticals Reports Financial Results for its Fiscal First Quarter and Three Months Ended December 31, 2019
Webcast and Conference Call Today at 4:30 p.m. ET Positive results from part 1 of the Phase 1a/b clinical study of EDP-514 in healthy subjects - Part 2
About this update from Enanta Pharmaceuticals, Inc.
[{"type":"text","content":"\nWebcast and Conference Call Today at 4:30 p.m. ET\n\n\n\nPositive results from part 1 of the Phase 1a/b clinical study of EDP-514 in healthy subjects\n- Part 2 initiated in nuc-suppressed chronic hepatitis B virus patients \n\n\nResearch and development programs progressing well -- several milestones expected in 2020 from our RSV, NASH, and HBV programs\n\n\nRoyalty revenue for the quarter was $52.6 million\n\n\nCash and marketable securities totaled $414.7 million at December 31, 2019\n\n\n WATERTOWN, Mass.--(BUSINESS WIRE)--\nEnanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a research and development-focused biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, today reported financial results for its fiscal first quarter ended December 31, 2019.\n\n\n“We achieved the first of our 2020 milestones with today’s announcement of positive data in healthy subjects with EDP-514, our core inhibitor for HBV. EDP-514 was found to be safe and well-tolerated in healthy adults, with a pharmacokinetic profile that demonstrated good blood levels to support once daily dosing. These results support further clinical evaluation, so we have initiated part 2 of the study in nuc-suppressed chronic HBV patients,” stated Jay R. Luly, Enanta President and CEO. “We look forward to reporting further clinical results and updates from our other wholly-owned clinical programs in RSV, NASH and PBC in 2020.”\n\n\nFiscal First Quarter Ended December 31, 2019 Financial Results\n\n\nTotal revenue for the three months ended December 31, 2019 was $52.6 million and consisted entirely of royalty revenue from worldwide net sales of AbbVie’s hepatitis C virus (HCV) regimens. For the three months ended December 31, 2018, total royalty revenue was $69.9 million.\n\n\nResearch and development expenses totaled $32.8 million for the three months ended December 31, 2019, compared to $34.9 million for the three months ended December 31, 2018. The decrease was primarily due to the timing of clinical trial costs associated with the progression of Enanta’s wholly owned clinical programs in respiratory syncytial virus (RSV), non-alcoholic steatohepatitis (NASH), primary biliary cholangitis (PBC), and hepatitis B virus (HBV).\n\n\nGeneral and administrative expenses totaled $6.9 million for the three months ended December 31, 2019...