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Enanta Pharmaceuticals Reports Financial Results for its Fiscal Third Quarter Ended June 30, 2022 With Webcast and Conference Call Today at 4:30 p.m. ET
Presented Positive Phase 1 Study Data for EDP-235, a Coronavirus 3CL Protease Inhibitor in Development as an Oral, Once-Daily Treatment for COVID-19; Phase 2
About this update from Enanta Pharmaceuticals, Inc.
[{"type":"text","content":"\n\nPresented Positive Phase 1 Study Data for EDP-235, a Coronavirus 3CL Protease Inhibitor in Development as an Oral, Once-Daily Treatment for COVID-19; Phase 2 Study Planned to Start in 4Q 2022\n\n\n\nProgressing Respiratory Syncytial Virus (RSV) Portfolio with a Phase 2 Study of EDP-938 in High-Risk Adults and a Phase 1 Study of EDP-323, an RSV L-Protein Inhibitor, Planned to Start in 4Q 2022\n\n\n\nRoyalty Revenue for the Quarter was $19.5 Million\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 and liver diseases, today reported financial results for its fiscal third quarter ended June 30, 2022.\n\n“Currently approved COVID-19 vaccines offer less protection against infection from new SARS-CoV-2 variants, especially BA.5, and we continue to see the need for an easily accessible, once-daily oral antiviral for the treatment of COVID-19. EDP-235, as demonstrated by its positive safety, tolerability, and pharmacokinetic properties, is positioned to fill this need and to be an important tool in the global fight against this virus. We look forward to initiating a Phase 2 study in the fourth quarter of this year,” said Jay R. Luly, Ph.D., President and Chief Executive Officer of Enanta Pharmaceuticals. “We also continue to advance the rest of our pipeline, with our ongoing and planned RSV studies, including EDP-323, our L-protein inhibitor, in Phase 1 and EDP-938 in a new Phase 2 study in high-risk adults, starting in the fourth quarter of this year. Meanwhile, we remain committed to identifying a third mechanism to combine with EDP-514 and a nucleoside reverse transcriptase inhibitor (NUC), for the treatment of patients with chronic hepatitis B virus infection.”\n\nFiscal Third Quarter Ended June 30, 2022 Financial Results\nTotal revenue of $19.5 million for the three months ended June 30, 2022 consisted of royalty revenue derived primarily from worldwide net sales of AbbVie’s hepatitis C virus (HCV) regimen MAVYRET®/MAVIRET®. This compared to total revenue of $21.6 million for the three months ended June 30, 2021, which also consisted of royalty revenue from AbbVie.\n\nResearch and development expenses totaled $39.1 million for the three months ended June 30, 2022, compared to $47.0 million ...