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Enanta Pharmaceuticals Inc. (ENTA-3.10%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing a decrease in royalty revenue to $16.959 million from $18.003 million in the same quarter the previous year. This decrease is attributed to lower reported HCV sales by AbbVie.
Research and development expenses for the quarter decreased to $27.656 million from $36.371 million in the previous year. The decrease is primarily due to reduced costs in the RSV and COVID-19 programs.
General and administrative expenses decreased to $12.846 million from $16.518 million, primarily due to lower legal expenses related to a patent infringement suit.
The company reported a net loss of $22.290 million for the quarter, compared to a net loss of $33.407 million in the previous year.
Cash used in operating activities was $16.801 million, while cash provided by investing activities was $68.903 million, driven by the timing of maturities of marketable securities.
Enanta had $216.691 million in cash, cash equivalents, and short-term marketable securities as of December 31, 2024. The company expects these resources to fund its operations into fiscal 2028.
The filing also details the company's ongoing litigation with Pfizer regarding a patent infringement suit related to a coronavirus protease inhibitor.
Enanta continues to focus on its virology and immunology programs, including development efforts for RSV, COVID-19, and immunology targets such as KIT and STAT6.
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. quarterly 10-Q report dated February 12, 2025. To report an error, please email earnings@qz.com.