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Enanta Pharmaceuticals, Inc. has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing details the company's focus on developing small molecule drugs with an emphasis on virology and immunology. Enanta's virology programs include treatments for respiratory syncytial virus (RSV), SARS-CoV-2, and hepatitis B virus (HBV).
Enanta's collaboration with AbbVie (ABBV-1.11%) continues to generate royalty revenue from the MAVYRET/MAVIRET regimen for hepatitis C virus (HCV), which includes Enanta's protease inhibitor, glecaprevir. The company reported $67.6 million in royalty revenue for the year.
Research and development expenses totaled $131.5 million, a decrease from the previous year, primarily due to reduced spending on COVID-19 programs as Enanta seeks collaborations for further development.
General and administrative expenses increased to $57.9 million, attributed to legal expenses related to a patent infringement lawsuit against Pfizer (PFE-0.64%).
Enanta ended the fiscal year with $248.2 million in cash, cash equivalents, and short-term marketable securities, which it expects will fund operations into fiscal 2027.
The company reported a net loss of $116.0 million for the fiscal year, compared to a net loss of $133.8 million in the previous year.
Enanta continues to pursue its strategy of advancing its virology and immunology programs, with a focus on developing treatments for RSV and type 2 immune-driven diseases.
Enanta's wholly-owned programs include clinical stage candidates for RSV and preclinical programs targeting KIT and STAT6 for immunology indications.
The company remains dependent on its collaboration with AbbVie for a significant portion of its revenue and is exploring opportunities for new collaborations to support its development pipeline.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Enanta Pharmaceuticals Inc. annual 10-K report dated November 27, 2024. To report an error, please email earnings@qz.com.