Enanta Pharmaceuticals Reports $18.6M Revenue and $11.9M Net Loss for December Quarter

Enanta Pharmaceuticals, Inc. reported its financial results for the three months ended December 31, 2025, revealing a total revenue of $18.6 million, an increase from $17.0 million in the same period last year. This growth in revenue was primarily driven by higher reported sales of the hepatitis C treatment MAVYRET/MAVIRET, which is marketed by AbbVie. The company's royalty revenue from this collaboration rose to $18.6 million, compared to $16.9 million in the prior year. Despite the increase in revenue, Enanta recorded a net loss of $11.9 million for the quarter, a significant improvement from the $22.3 million loss reported in the same quarter of 2024.

Operating expenses for the quarter decreased to $29.9 million from $40.5 million year-over-year, reflecting a reduction in research and development costs, which fell to $20.9 million from $27.7 million. The decrease in R&D expenses was attributed to the timing of clinical trials, particularly in the company's respiratory syncytial virus (RSV) programs. General and administrative expenses also declined to $9.0 million from $12.8 million, largely due to lower stock-based compensation and legal expenses related to ongoing patent litigation.

In terms of strategic developments, Enanta completed a public offering in October 2025, raising approximately $69.9 million in net proceeds. This funding is expected to support the company's ongoing research and development efforts, particularly in its virology and immunology programs. As of December 31, 2025, Enanta had $241.9 million in cash, cash equivalents, and marketable securities, which the company believes will be sufficient to fund its operations into fiscal 2029.

Operationally, Enanta is advancing its clinical-stage candidates for RSV, including zelicapavir and EDP-323, both of which have received Fast Track designation from the FDA. The company is also focusing on its immunology programs, targeting conditions such as chronic spontaneous urticaria and atopic dermatitis. The company anticipates that its research and development expenses will decrease in the coming year as it completes its Phase 2 studies and explores potential business development opportunities.

Looking ahead, Enanta expects to continue generating operating losses as it advances its wholly-owned programs. The company remains committed to its strategic initiatives and is exploring additional funding options, including collaborations and licensing agreements, to support its long-term growth objectives.