Enata Pharmaceuticals Announces Fiscal Fourth Quarter Results

Enanta Pharmaceuticals, Inc. (NASDAQ: ENTA) has announced its financial results for its fiscal fourth quarter and year ended September 30, 2015.
According to the press release:

Cash, cash equivalents and short-term and long-term marketable securities totaled $209.4 million at September 30, 2015. This compares to a total of $131.8 million in such accounts at September 30, 2014. Enanta expects that its current cash, cash equivalents and marketable securities will be sufficient to meet the anticipated cash requirements of its existing business for the foreseeable future.
Revenue for the three months ended September 30, 2015 was $14.4 million, compared to $2.6 million for the three months ended September 30, 2014. For the 2015 quarter, revenue consisted primarily of royalties earned on contractually specified portions of AbbVie’s worldwide net sales of hepatitis C virus (HCV) treatment regimens containing paritaprevir, Enanta’s lead protease inhibitor identified within the ongoing AbbVie-Enanta collaboration. Quarterly royalty revenues are all included in accounts receivable at quarter end and then collected in a single payment in the following quarter. For the twelve months ended September 30, 2015, revenue was $160.9 million, compared to revenue of $47.7 million for the same period in 2014. The increase in revenue for the twelve months ended September 30, 2015 was due primarily to a total of $125 million in payments earned from AbbVie for the achievement of U.S. and EU commercialization regulatory approvals of VIEKIRA PAK™ and VIEKIRAX®, respectively, as well as to royalties earned on those products, compared to $40 million in milestone payments and other contractual revenue in the comparable period in 2014. Milestone payments, royalties and other payments from collaborations have varied significantly from period to period, and are expected to continue to do so.

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