ENANTA PHARMACEUTICALS INC

Enanta Pharmaceuticals, Inc. (NASDAQ: ENTA) is a biotechnology company that discovers and develops small molecule drugs for virology and immunology indications. The company's website is www.enantapharma.com.

Enanta's business model centers on leveraging its chemistry-driven drug discovery capabilities to identify novel therapeutic candidates. The company maintains two primary business segments: its legacy virology collaboration with AbbVie and its proprietary development programs in virology and immunology.

The virology segment generates substantial revenue through royalties on AbbVie's MAVYRET/MAVIRET regimen, a fixed-dose combination containing glecaprevir, which Enanta discovered, combined with AbbVie's NS5A inhibitor pibrentasvir. This pan-genotypic hepatitis C treatment has been marketed since 2017 and received FDA approval in June 2025 as the first and only treatment for acute HCV infection. Enanta receives annually tiered, double-digit royalties on fifty percent of calendar year net sales. In April 2023, the company sold 54.5 percent of its future MAVYRET/MAVIRET royalties through June 30, 2032 to an OMERS affiliate for $200 million, subject to a cap equal to 1.42 times the purchase price.

Enanta's proprietary development pipeline includes two clinical-stage RSV candidates: zelicapavir, an N-protein inhibitor with Fast Track FDA designation that demonstrated positive Phase 2b results in high-risk adults and positive Phase 2 pediatric results, and EDP-323, an L-protein inhibitor that showed positive Phase 2a challenge study results. The company also maintains clinical-stage programs for SARS-CoV-2 and hepatitis B virus.

In immunology, Enanta is developing oral small molecule inhibitors targeting type 2 inflammatory diseases. The KIT inhibitor program, led by EDP-978, targets mast cell-driven diseases including chronic spontaneous urticaria, with IND filing expected in the first quarter of 2026. The STAT6 inhibitor program, led by EPS-3903, targets atopic dermatitis and other type 2 immune-driven conditions, with IND filing anticipated in the second half of 2026. A third immunology program is planned for introduction in the fourth quarter of 2025.

As of September 30, 2025, Enanta held $188.9 million in cash, cash equivalents, and short-term marketable securities, with management projecting these resources, combined with retained HCV royalties and proceeds from an October 2025 public offering, would fund operations into fiscal 2029.