Enanta Pharmaceuticals Reports Q2 Fiscal 2025 Revenue Decline to $14.9 Million

Enanta Pharmaceuticals, Inc. reported its financial results for the second quarter of fiscal 2025, revealing a total revenue of $14.9 million for the three months ended March 31, 2025, a decrease from $17.1 million in the same period last year. The decline in revenue was primarily attributed to lower reported sales of AbbVie’s MAVYRET/MAVIRET, which is linked to Enanta's royalty revenue. For the six months ended March 31, 2025, total revenue was $31.9 million, down from $35.1 million in the prior year. The company recorded a net loss of $22.6 million for the quarter, an improvement from a net loss of $31.2 million in the same quarter of 2024.

Operating expenses for the quarter decreased to $39.5 million from $49.8 million year-over-year, driven by a reduction in research and development costs, which fell to $28.1 million from $35.6 million. This reduction was largely due to the timing of clinical trials, particularly in the respiratory syncytial virus (RSV) program. General and administrative expenses also decreased to $11.4 million from $14.2 million, reflecting lower legal costs associated with ongoing litigation. The company’s accumulated deficit increased to $368 million as of March 31, 2025, compared to $323 million at the end of the previous fiscal year.

Enanta's operational developments included the continuation of its clinical programs for RSV, with two candidates, zelicapavir and EDP-323, currently in Phase 2 studies. The company has also shifted its focus away from further internal development of its COVID-19 program, opting instead to pursue collaborations. As of the reporting date, Enanta had 21,377,581 shares of common stock outstanding and maintained a cash position of $60.2 million, alongside short-term marketable securities valued at $133.2 million.

Looking ahead, Enanta expects its existing cash, cash equivalents, and short-term marketable securities, along with anticipated cash flows from retained royalty revenues and a recent federal tax refund of $33.8 million, to fund its operations into fiscal 2028. However, the company acknowledges that its future capital requirements are difficult to predict and will depend on various factors, including the progress of its research and development programs and potential collaborations. The company continues to assess its strategic options to ensure adequate funding for its ongoing projects.