Enanta Pharmaceuticals(ENTA) - 2025 Q4 - Annual Results

Financial Performance - Total revenue for the fiscal fourth quarter ended September 30, 2025, was $15.1 million, an increase from $14.6 million in the same period of 2024, driven by higher sales of AbbVie's MAVYRET®/MAVIRET®[5] - For the twelve months ended September 30, 2025, total revenue decreased to $65.3 million from $67.6 million in 2024, attributed to a decline in AbbVie's sales in the first nine months of fiscal 2025[5] - Revenue for the three months ended September 30, 2025, was $15,125,000, an increase from $14,607,000 for the same period in 2024, representing a growth of 3.5%[24] - Total operating expenses for the twelve months ended September 30, 2025, were $150,673,000, down from $189,326,000 in 2024, indicating a reduction of approximately 20.5%[24] - Interest and investment income for the twelve months ended September 30, 2025, was $9,481,000, compared to $14,843,000 in 2024, a decrease of 36.3%[24] Net Loss and Earnings - Enanta reported a net loss of $18.7 million, or $0.87 per diluted share, for the three months ended September 30, 2025, compared to a net loss of $28.8 million, or $1.36 per diluted share, for the same period in 2024[11] - Net loss for the three months ended September 30, 2025, was $18,700,000, compared to a net loss of $28,823,000 for the same period in 2024, reflecting an improvement of 35.5%[24] - The company reported a basic net loss per share of $0.87 for the three months ended September 30, 2025, improved from a loss of $1.36 per share in 2024[24] Research and Development - Research and development expenses for the three months ended September 30, 2025, were $23.8 million, down from $30.8 million in the same period of 2024, primarily due to the timing of clinical trials[7] - Research and development expenses for the three months ended September 30, 2025, were $23,809,000, down from $30,778,000 in 2024, a reduction of 22.6%[24] - The company plans to file an Investigational New Drug application for EPS-3903, an oral STAT6 inhibitor, in the second half of 2026[4] - Enanta nominated EDP-978 as its oral, once-daily KIT inhibitor clinical candidate, with plans to file an IND in the first quarter of 2026[4] - Positive topline data from the RSVHR study indicated zelicapavir reduced the duration of RSV symptoms by 2.2 days for the overall efficacy population and 6.7 days for high-risk patients[3] Financial Position - Enanta's cash, cash equivalents, and marketable securities totaled $188.9 million as of September 30, 2025, expected to fund operations into fiscal 2029[12] - Cash and cash equivalents as of September 30, 2025, were $32,298,000, a decrease from $37,233,000 in 2024, showing a decline of 13.0%[26] - Total assets decreased to $280,732,000 as of September 30, 2025, from $376,652,000 in 2024, representing a decline of 25.5%[26] - Total stockholders' equity fell to $64,717,000 as of September 30, 2025, down from $128,814,000 in 2024, indicating a decrease of 49.8%[26] - Enanta's public offering in October 2025 raised gross proceeds of approximately $74.8 million, strengthening its financial position[4] Interest Expense - Interest expense for the three months ended September 30, 2025, was $2.4 million, compared to $2.6 million for the same period in 2024[6] Cautionary Statements - Enanta cautions investors regarding forward-looking statements, highlighting risks related to development and regulatory efforts in the industry[21]