Enanta Pharmaceuticals(ENTA)2024-11-25 21:05Financial Performance - Total revenue for Q4 2024 was 18.9 million in Q4 2023, and total revenue for the fiscal year was 79.2 million in 2023, reflecting a decline due to decreased sales of AbbVie's MAVYRET®/MAVIRET®[4] - Net loss for Q4 2024 was 1.36 per diluted share, compared to a net loss of 1.33 per diluted share in Q4 2023; for the fiscal year, net loss was 5.48 per diluted share, compared to a net loss of 6.38 per diluted share in 2023[10] - Revenue for September 2024 was 18,932 million in September 2023[21] - Net loss for September 2024 was 28,107 million in September 2023, indicating a slight increase in losses[21] - Net loss per share (basic and diluted) for September 2024 was (1.33) in September 2023[21] Research and Development - Research and development expenses decreased to 36.2 million in Q4 2023, and for the fiscal year, expenses were 163.5 million in 2023, primarily due to reduced costs associated with the COVID-19 program[6] - Positive topline results for EDP-323 in a Phase 2a study showed statistically significant reductions in viral load and clinical symptoms compared to placebo, indicating a strong potential for RSV treatment[13] - Enanta is on track to report topline results for the RSVPEDs study of zelicapavir in December 2024, which could position the company with two leading clinical candidates for RSV treatment[3] - The company has nominated EPS-1421 as its lead development candidate for its KIT inhibition program, targeting chronic spontaneous urticaria and other mast cell-driven diseases[14] - Enanta's second discovery program focuses on developing oral STAT6 inhibitors for type 2 immune-driven diseases, with initial efforts aimed at atopic dermatitis[14] Expenses and Liabilities - Interest expense for Q4 2024 was 3.2 million in Q4 2023, while total interest expense for the fiscal year was 5.1 million in 2023[5] - Total operating expenses decreased to 49,962 million in September 2023, representing a reduction of approximately 10%[21] - Research and development expenses were 36,167 million in September 2023, a decrease of about 15%[21] - Interest expense decreased to 3,151 million in September 2023, a reduction of about 18%[21] - A portion of ongoing royalty revenue (54.5%) from AbbVie's sales is paid to OMERS, with the upfront purchase payment of 248.2 million in cash and marketable securities as of September 30, 2024, which is expected to be sufficient to meet anticipated cash requirements into fiscal 2027[11] - Cash and cash equivalents decreased to 85,388 million as of September 30, 2023, a decline of approximately 56%[24] - Total assets decreased to 462,275 million in September 2023, a reduction of about 19%[24] - Total stockholders' equity fell to 216,735 million in September 2023, a decrease of approximately 41%[24] - Current liabilities decreased slightly to 62,787 million in September 2023[24]