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ENTA FY4Q20* results—royalty_revenue=$23.6M—9/30/20_cash=$419M:
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Pharmaceuticals-Reports-Financial-Results-for-its-Fiscal-Fourth-Quarter-and-Year-Ended-September-30-2020/default.aspx
ENTA’s FY4Q20 royalty revenue of $23.6M was +27% QoQ, but it remained suppressed relative to pre-COVID levels (#msg-159211912). (ENTA’s royalty rate from ABBV is tiered, as shown in the table in #msg-142808661. The royalty rate is applied to the 50% Glecaprevir component of Mavyret, a 2-drug combination.)
ABBV guided for calendar 4Q20 (ENTA’s FY1Q21) Mavyret sales of approximately $560M (#msg-159212040), up from $414M in 3Q20, but this guidance was given before the recent surge in COVID-19 infections.
ENTA’s 9/30/20 cash balance of $419M was down $16M from 6/30/20 (#msg-157373145).
ENTA’s FY2021* guidance for gross operating expenses (including non-cash components) is: $145-165M for R&D (up from $137M in FY2020); and $27-33M for G&A (versus $27M in FY2020).
*ENTA’s fiscal years end on Sep 30.
Thoughts on this PR today?
Enanta Pharma EPS misses by $0.52, misses on revenue
Nov. 23, 2020 4:06 PM ETEnanta Pharmaceuticals, Inc. (ENTA)By: Manshi Mamtora, CFA
Enanta Pharma (NASDAQ:ENTA): Q4 GAAP EPS of -$1.46 misses by $0.52.
Revenue of $23.6M (-54.0% Y/Y) misses by $2.16M.
2021 Guidance: R&D Expense $145M-165M; G&A Expense $27M-33M
Enanta Pharmaceuticals to Present at Upcoming Investor Conferences
Wed, November 18, 2020, 7:02 AM EST
Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical-stage biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, today announced that Jay R. Luly, Ph.D., President and Chief Executive Officer, will participate in two upcoming conferences:
Evercore ISI 3rd Annual Virtual HealthCONx Conference, Fireside Chat at 9:15 a.m. ET on December 1, 2020
Piper Sandler 32nd Annual Virtual Healthcare Conference, One-on-One Meetings on December 2, 2020, with a Fireside Chat available to view beginning November 25
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Pharmaceuticals-to-Present-at-Upcoming-Investor-Conferences/default.aspx
Added to my position today. It’s unfathomable this continues to be so undervalued. GLTA
Enanta Pharmaceuticals to Host Conference Call on November 23 at 4:30 p.m. ET to Discuss its Financial Results for its Fiscal Fourth Quarter and Year Ended September 30, 2020
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Pharmaceuticals-to-Host-Conference-Call-on-November-23-at-430-p.m.-ET-to-Discuss-its-Financial-Results-for-its-Fiscal-Fourth-Quarter-and-Year-Ended-September-30-2020/default.aspx
ENTA investors are currently ascribing negative value to the company's pipeline:
#msg-159368517
ABBV’s Mavyret_2020_guidance=$1.9B—implying ~$560M in 4Q20. (Source: Today’s 3Q20 CC.)
ABBV 3Q20 Mavyret sales=$414M, +10% QoQ, -41% YoY:
As reported by GILD yesterday (#msg-159176251), COVID-19 continued to impede new-HCV-patient starts during 3Q20.
The 3Q20 Mavyret breakdown was: $185M US; $214M ex-US.
2020 Mavyret sales for the first nine months are now $1.34B.
PR:
https://investors.abbvie.com/news-releases/news-release-details/abbvie-reports-third-quarter-2020-financial-results
FWIW -
Enanta price target raised to $107 from $104 at Roth Capital 16:19 ENTA Roth Capital analyst Zegbeh Jallah raised the firm's price target on Enanta to $107 from $104 and keeps a Buy rating on the shares ahead of the company's earnings report due on November 23. In addition to lowering her Q4 revenue projection, Jallah increased her view of the probability of success for Enanta's RSV program, EDP-938, to 30% from 25%, the analyst tells investors.
Read more at:
https://thefly.com/n.php?id=3181989
Enanta Pharmaceuticals to Present at the 4th Annual H.C. Wainwright Virtual NASH Investor Conference
Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical-stage biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, today announced that Jay R. Luly, Ph.D., President and Chief Executive Officer, will participate in a fireside chat at the 4th Annual H.C. Wainwright Virtual NASH Investor Conference on October 5, 2020 at 2:00 pm ET.
https://finance.yahoo.com/news/enanta-pharmaceuticals-present-4th-annual-110000382.html
ROTH Webinar - Enanta Pharmaceuticals (ENTA) - Registration
Topic
ROTH Webinar - Enanta Pharmaceuticals (ENTA) - Oct 1, 2020 – 1:00 PM (ET) / 10:00 AM (PT)
https://roth.zoom.us/webinar/register/WN_9ClZOYqRQtS3r_4Kc7kpag
Enanta management to meet virtually with Roth Capital 12:23 ENTA Webinar with management will be held on October 1 at 1 pm hosted by Roth Capital.
Read more at:
https://thefly.com/n.php?id=3165596
ENANTA PHARMACEUTICALS INITIATES PHASE 1 CLINICAL STUDY OF EDP-297, ITS HIGHLY POTENT AND TARGETED FOLLOW-ON FARNESOID X RECEPTOR AGONIST FOR THE TREATMENT OF NON-ALCOHOLIC STEATOHEPATITIS
SEPTEMBER 14, 2020
-- Initial clinical data including safety, tolerability and pharmacokineticsexpected in 2Q 2021 –
WATERTOWN, Mass.--(BUSINESS WIRE)-- Enanta Pharmaceuticals, Inc., (NASDAQ: ENTA), a clinical stage biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, today announced that it has dosed the first subjects in its Phase 1 clinical trial of EDP-297, a highly potent and targeted follow-on farnesoid X receptor (FXR) agonist, being developed for the treatment of non-alcoholic steatohepatitis (NASH).
“We are excited to advance our efforts in NASH and progress EDP-297, our follow-on FXR agonist, into clinical development,” commented Jay R. Luly, Ph.D., President and Chief Executive Officer of Enanta Pharmaceuticals. “In preclinical studies, EDP-297 demonstrated a compelling product profile, with a potency greater than that published on any FXR agonist in clinical development and high target-tissue distribution in the liver and intestine. Based on these data, we believe we may be able to effectively dose EDP-297 at lower doses and with reduced drug levels in non-targeted tissues, potentially improving tolerability by reducing pruritis. We look forward to reporting clinical data in the second quarter of 2021.”
Read more:
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Pharmaceuticals-Initiates-Phase-1-Clinical-Study-of-EDP-297-its-Highly-Potent-and-Targeted-Follow-On-Farnesoid-X-Receptor-Agonist-for-the-Treatment-of-Non-Alcoholic-Steatohepatitis/default.aspx
Question. If there’s a $100+ price target why does this sit under $50?
Roth’s $104 price target is close to the $110 buyout value I came up with in mid 2019 (#msg-151399889), which would now have to be lowered somewhat to account for reduced HCV sales due to COVID-19 and the possibility of a higher corporate tax rate (if the Dems sweep the election).
Enanta resumed with a Buy at Roth Capital
08/27 ENTA Roth Capital analyst Zegbeh Jallah resumed coverage of Enanta Pharmaceuticals with a Buy rating and $104 price target. The current stock price is largely reflective of the company's hepatitis C virus revenue stream and its cash position of $435M, thus leaving its clinical pipeline of potential blockbusters undervalued, Jallah tells investors in a research note. Enanta has a "very potent" hepatitis B virus core inhibitor, EDP-514, in Phase 2 studies with data expected in the first half of 2021, notes the analyst.
https://thefly.com/n.php?id=3152704
ENANTA PHARMACEUTICALS TO PARTICIPATE IN UPCOMING SEPTEMBER CONFERENCES
SEPTEMBER 03, 2020
WATERTOWN, Mass.--(BUSINESS WIRE)-- Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical-stage biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, today announced that Jay R. Luly, Ph.D., President and Chief Executive Officer, will participate in three upcoming virtual conferences in September:
Baird 2020 Global Healthcare Conference, Fireside Chat at 9:40 a.m. ET on September 10, 2020
H.C. Wainwright 22nd Annual Global Investment Conference, Presentation at 1:00 p.m. ET on September 15, 2020
Oppenheimer Fall Healthcare Life Sciences & MedTech Summit, Presentation at 3:20 p.m. ET on September 22, 2020
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Pharmaceuticals-to-Participate-in-Upcoming-September-Conferences/default.aspx
ENANTA PHARMACEUTICALS PRESENTS NEW DATA FROM ITS HEPATITIS B AND NON-ALCOHOLIC STEATOHEPATITIS PROGRAMS AT THE DIGITAL INTERNATIONAL LIVER CONGRESS™ 2020
AUGUST 28, 2020
New Pharmacokinetic and Safety Results from Phase 1a Study of HBV Core Inhibitor EDP-514, Highlighting Good Safety and Tolerability, and Pharmacokinetics Suitable for Once Daily Dosing
Phase 2a ARGON-1 Study for FXR Agonist EDP-305 Targeting NASH, Showing Significant Alanine Transaminase and Liver Fat Content Reduction
Preclinical Findings for Follow-on FXR Agonist EDP-297 Targeting NASH, Demonstrating Potent Anti-Fibrotic, Anti-Inflammatory and Hepatoprotective Effects
WATERTOWN, Mass.--(BUSINESS WIRE)-- Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical-stage biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, announced that data from Enanta’s wholly-owned development programs for non-alcoholic steatohepatitis (NASH) and hepatitis B virus (HBV) will be presented at the European Association for the Study of the Liver (EASL) Digital International Liver Congress™ 2020.
Data presented include results from the Phase 1a clinical trial of EDP-514, Enanta’s core inhibitor for HBV. Additionally, Enanta’s NASH program will be discussed in an oral presentation detailing the Phase 2a ARGON-1 study of EDP-305, Enanta’s lead Farnesoid Xreceptor (FXR) agonist, and two posters highlighting preclinical data on EDP-297, Enanta’s follow-on FXR agonist.
“We are pleased to share scientific data across multiple candidates in our pipeline, supporting our chemistry-driven approach to developing innovative treatments for viral infections and liver diseases,” stated Jay R. Luly, Ph.D., President and Chief Executive Officer of Enanta Pharmaceuticals. “The positive results from our first-in-human Phase 1a study of EDP-514, demonstrating a strong safety, tolerability and pharmacokinetic profile, gave us the confidence to advance our HBV program into two ongoing Phase 1b clinical studies in HBV patients. Additionally, the data presented for our NASH candidates further demonstrate the potential of both FXR agonists. EDP-305 shows statistically significant improvements in liver biochemistry and hepatic steatosis, and our follow-on NASH candidate EDP-297 demonstrates a potent anti-fibrotic effect.”
August 28, 2020, 12:15 PM - 12:30 PM CEST
Additional - Read more:
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Pharmaceuticals-Presents-New-Data-from-its-Hepatitis-B-and-Non-Alcoholic-Steatohepatitis-Programs-at-the-Digital-International-Liver-Congress-2020/default.aspx
THANK YOU, DEW -
28 August:
Enanta resumed with a Buy at Roth Capital 16:19 ENTA Roth Capital analyst Zegbeh Jallah resumed coverage of Enanta Pharmaceuticals with a Buy rating and $104 price target. The current stock price is largely reflective of the company's hepatitis C virus revenue stream and its cash position of $435M, thus leaving its clinical pipeline of potential blockbusters undervalued, Jallah tells investors in a research note. Enanta has a "very potent" hepatitis B virus core inhibitor, EDP-514, in Phase 2 studies with data expected in the first half of 2021, notes the analyst.
Read more at:
https://thefly.com/n.php?id=3152704
Initiating coverage - ENTA - With a current rating of Overweight, Piper Sandler initiated coverage on Enanta Pharmaceuticals Inc (NASDAQ: ENTA). The price target seems to have been set at $87.00 for Enanta Pharmaceuticals. Enanta Pharmaceuticals earned $0.71 in the third quarter, compared to $0.33 in the year-ago quarter. The stock has a 52-week-high of $73.39 and a 52-week-low of $38.40. At the end of the last trading period, Enanta Pharmaceuticals closed at $50.64.
https://finance.yahoo.com/news/benzingas-top-upgrades-downgrades-august-134200366.html
ENTA new corporate slide set:
https://s22.q4cdn.com/306858242/files/doc_financials/quarterly/2020/q3/Enanta-Corporate-Presentation-Aug-4-2020-Final.pdf
The only change relative to the Jul 2020 slide set is the updated financial info.
ENTA FY3Q20* results—royalty revenue=$18.6M—GAAP EPS=($0.71):
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Pharmaceuticals-Reports-Financial-Results-for-its-Fiscal-Third-Quarter-Ended-June-30-2020-with-Webcast-and-Conference-Call-Today-at-430-p.m.-ET/default.aspx
ENTA’s FY3Q20 royalty revenue of $18.6M was sharply down from the $27.6M in FY2Q20 because ABBV’s sales of Mavyret in calendar 2Q20 (ENTA’s FY3Q20) suffered materially from the COVID-19 pandemic (#msg-157282636). The good news is that ABBV’s is guiding for a significant pickup in Mavyret sales during 2H20 (ibid).
ENTA’s royalty rate from ABBV is tiered, as shown in the table in #msg-142808661. The royalty rate is applied to the 50% Glecaprevir component of Mavyret (a 2-drug combination).
ENTA’s 6/30/20 cash balance was $435M, unchanged from 3/31/20.
*ENTA’s fiscal year 2020 ends on 9/30/20.
ABBV’s 2Q20 Mavyret sales=$376M, -33% QoQ, -51% YoY—the decline was attributable to fewer new-patient starts during the COVID-19 pandemic:
https://news.abbvie.com/news/press-releases/abbvie-reports-second-quarter-2020-financial-results.htm
ABBV lowered full-year-2020 Mavyret sales to $2.1B (from the prior guidance of $2.3B), which implies 2H20 Mavyret sales of $1.0-1.1B. I.e., expected Mavyret sales during 2H20 will be almost equal to the run rate in the Jan 2020 (pre-COVID-19) guidance.
ENTA starts/resumes two phase-1b HBV trials:
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Pharmaceuticals-Announces-Clinical-Trial-Progress-for-EDP-514-its-Lead-Core-Inhibitor-for-Hepatitis-B-Virus/default.aspx
ENTA new corporate slide set:
https://s22.q4cdn.com/306858242/files/doc_presentations/2020/06/Enanta-Corporate-Presentation-June-18-2020-Final.pdf
ENTA’s CFO exercised and held ~$90K of stock today:
https://www.sec.gov/Archives/edgar/data/1177648/000117764820000024/xslF345X03/edgar.xml
These options were expiring in a few weeks, but the exercise-and-hold action is still bullish insofar as the tax liability was paid in cash rather than by forfeiting shares.
Dew, are you surprised that ENTA went up after that earnings revenue miss? Does the recent data mean EDP-305 is dead and ENTA's focus for NASH will be on EDP-297?
ENTA discontinues EDP-305 for PBC indication following phase-2 miss on primary endpoint:
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Announces-Results-of-INTREPID-Study-of-EDP-305-for-the-Treatment-of-Primary-Biliary-Cholangitis/default.aspx
PBC is a small indication and EDP-305 is a bad drug, so ENTA’s discontinuing this program is entirely justifiable.
ENTA FY2Q20 results—royalty revenue=$27.6M—GAAP EPS=($0.30):
https://www.enanta.com/investors/news-releases/press-release/2020/Enanta-Pharmaceuticals-Reports-Financial-Results-for-its-Fiscal-Second-Quarter-Ended-March-31-2020-with-Webcast-and-Conference-Call-Today-at-430-pm-ET/default.aspx
I expected FY2Q20 financial results to be bad for the reasons in #msg-155360453.
The 3/31/20 cash balance was $435M.
Right! Thanks for noticing.
ABBV's 2020 HCV-sales guidance lowered to $2.3B (from prior guidance of $2.5B). The new $2.3B figure is consistent with the 1Q20 HCV sales of $564M (#msg-155372271).
On today’s 1Q20 CC, ABBV said about half of the $200K guidance reduction stems from COVID-19 issues.
ABBV 1Q20 results—HCV sales=$564M, -10.8% QoQ:
https://investors.abbvie.com/news-releases/news-release-details/abbvie-reports-first-quarter-2020-financial-results
1Q20 HCV sales were $234M US, $330M ex-US.
Right. It shows how low Yahoo Finance has sunk under Verizon’s tutelage that they carry such drivel.
Those articles are computer generated click bait. The same article comes out for every ticker eventually with only the numbers differing.
Correct. That was my mistake. Sorry for the confusion. Surprised by the magnitude of today’s sell off still.
The nonsensical article about ENTA’s “debt” came out on 4/17/20, so I doubt that it was a factor in the price action today:
https://finance.yahoo.com/news/enanta-pharmaceuticals-nasdaq-enta-using-141916507.html
ENTA's FY2Q20 earnings will likely be soft for two reasons: 1) The Mavyret royalty rate drops to 10% at the beginning of each calendar year and has to work its way back to the higher tiers as the year progresses; and 2) ABBV's Mavyret sales to new patients presumably fell in March, when people started deferring non-essential doctor visits.
I still think ENTA is a strong buyout candidate, FWIW.
I’m pretty sure ENTA is down 6% right now, partially because of some misleading computer generated articles. On is titled, Is “ENTA Using Too Much Debt?” What debt? They have almost no debt compared to their $350+ Mil cash position. Also worth noting, IBB -1.5% today.
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