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Enanta Pharmaceuticals Reports Financial Results for its Fiscal Second Quarter with Conference Call and Webcast Today at 4:30 p.m. ET
Reported Positive Topline Data from Phase 2 SPRINT Clinical Study of EDP-235, a 3CL Protease Inhibitor in Development as an Oral, Once-Daily Treatment for
About this update from Enanta Pharmaceuticals, Inc.
[{"type":"text","content":"\n\nReported Positive Topline Data from Phase 2 SPRINT Clinical Study of EDP-235, a 3CL Protease Inhibitor in Development as an Oral, Once-Daily Treatment for COVID-19\n\n\n\nStrengthened Balance Sheet Through the Sale of 54.5% of Future MAVYRET®/MAVIRET® Royalties for an Upfront Payment of $200 Million\n\n\n\nOn Track to Report Phase 1 Data of EDP-323, an L-Protein Inhibitor in Development as an Oral, Once-Daily Treatment for Respiratory Syncytial Virus, in June\n\n\n\nRoyalty Revenue for the Quarter was $17.8 Million\n\n\n\n WATERTOWN, Mass.--(BUSINESS WIRE)--\nEnanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical-stage biotechnology company dedicated to creating small molecule drugs for viral infections, today reported financial results for its fiscal second quarter ended March 31, 2023.\n\n\n“At Enanta, we are focused on transforming the lives of patients with curative therapies, by leveraging our previous successes in the development of small molecules and our deep understanding of virologic diseases,” said Jay R. Luly, Ph.D., President and Chief Executive Officer of Enanta Pharmaceuticals. “This vision is supported by positive topline data from our SPRINT Phase 2 study announced today. With EDP-235 and Enanta’s entire pipeline, our goal continues to be to develop cures for life-threatening viral infections. Looking ahead, we are also eager to advance our programs in respiratory syncytial virus with an upcoming data readout for EDP-323, our L-protein inhibitor in development as a once-daily oral treatment, next month. Further, the financial flexibility we now have with the additional funding from our royalty monetization allows us to continue to advance our robust pipeline.”\n\n\nFiscal Second Quarter Ended March 31, 2023 Financial Results\n\n\nTotal 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.\n\n\nResearch 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.\n\n\nGeneral and administra...