Enanta Pharmaceuticals Inc (ENTA)

[DewDiligence]

Musings on the EDP-938 data: #msg-149396106.

[DewDiligence]

ENTA reports EDP-938 phase-2 data…

PR:
https://www.enanta.com/investors/news-releases/press-release/2019/Enanta-Pharmaceuticals-Announces-Topline-Results-Showing-EDP-938-Achieved-its-Primary-and-Secondary-Endpoints-in-its-Phase-2a-Human-Challenge-Study-in-Healthy-Adults-Infected-with-Respiratory-Syncytial-Virus-RSV/default.aspx

CC slides:
https://s22.q4cdn.com/306858242/files/doc_presentations/2019/06/SLIDES-EDP-938-Challenge-TOPLINE-DATA-FINAL.pdf

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 51% (from 49% the prior week) for the week ending 5/31.

[DewDiligence]

ENTA’s EV (fully-diluted) ~$1.6B: #msg-149160816.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 49% (from 51% the prior week) for the week ending 5/24.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 51% (from 50% the prior week) for the week ending 5/17.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 50% (from 48% the prior week) for the week ending 5/10.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 48% (from 52% the prior week) for the week ending 5/3.

[DewDiligence]

New corporate slide set:

https://s22.q4cdn.com/306858242/files/doc_presentations/2019/05/May-9-2019-Corporate-Presentation.pdf

[DewDiligence]

ENTA FY2Q19 CC transcript:

https://finance.yahoo.com/news/edited-transcript-enta-earnings-conference-040211500.html

[DewDiligence]

ENTA FY2Q19 results:

https://www.enanta.com/investors/news-releases/press-release/2019/Enanta-Pharmaceuticals-Reports-Financial-Results-for-its-Fiscal-Second-Quarter-Ended-March-31-2019/default.aspx

FY2Q19 royalty revenue was $39.6M, down from $69.9M in FY1Q19 (Oct-Dec 2018). ENTA’s royalty rate from ABBV resets to the lowest tier at the start of each calendar year, so ENTA’s fiscal 2Q (Jan-Mar) will always have the lowest royalty tier for a given fiscal year.

(The royalty tiers applicable to the 50% Glecaprevir component of Mavyret are shown in #msg-142808661.)

ENTA’s cash balance at 3/31/19 was $387M.

FY2Q19 GAAP EPS was $0.20, due to a tax benefit.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 52% (from 54% the prior week) for the week ending 4/26.

[DewDiligence]

Pediatric HCV is a small market, which is why this announcement didn't cause a bigger buzz.

[JK2016]

"Building off a surprise success with Mavyret in adults, AbbVie has nabbed an FDA approval to market the hepatitis C drug for children ages 12 to 17. The drug — a combination of glecaprevir and pibrentasvir — racked up $3.438 billion in net revenue for 2018, far exceeding peak sales expectations. The OK was based on a trial of 47 HCV patients with genotypes 1-4 suggesting a 100% cure rate, though it covers all six genotypes." EndPoint News.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 54% (from 52% the prior week) for the week ending 4/19.

[DewDiligence]

ABBV 1Q19 HCV sales=$815M—(-5% QoQ)—inline with 2019 guidance of $3.3B:

#msg-148427663

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 52% (from 53% the prior week) for the week ending 4/5.

[DewDiligence]

ENTA’s EASL presentations (NASH, HBV):

https://www.enanta.com/investors/news-releases/press-release/2019/Enanta-Pharmaceuticals-Presents-New-Preclinical-Data-on-Compounds-Targeting-Hepatitis-B-Virus-and-Non-Alcoholic-Steatohepatitis-at-The-International-Liver-Congress-2019/default.aspx

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 53% (from 54% the prior week) for the week ending 3/29.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 54% (from 54% the prior week) for the week ending 3/22.

[DewDiligence]

ENTA’s EASL lineup:

https://www.enanta.com/investors/news-releases/press-release/2019/Enanta-Pharmaceuticals-Announces-Data-Presentations-at-The-International-Liver-Congress-2019/default.aspx

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 54% (from 56% the prior week) for the week ending 3/15.

[DewDiligence]

JNJ formally abandons RSV program: #msg-147714156.

[DewDiligence]

https://twitter.com/DewDiligence/status/1108727744999931904

[DewDiligence]

New corporate slide set:

https://s22.q4cdn.com/306858242/files/doc_presentations/2019/03/March-18-2019-Corporate-Presentation.pdf

[DewDiligence]

ENTA completes enrollment in phase-2 NASH and RSV trials:

https://www.enanta.com/investors/news-releases/press-release/2019/Enanta-Pharmaceuticals-Completes-Enrollment-in-Two-Ongoing-Phase-2-Studies/default.aspx

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 54% (from 55% the prior week) for the week ending 3/1.

[DewDiligence]

Highest close ($105.66) since Jul 2018.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 55% (from 53% the prior week) for the week ending 2/22.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 53% (from 56% the prior week) for the week ending 2/15.

[DewDiligence]

ENTA FY1Q19 CC transcript:

https://finance.yahoo.com/news/edited-transcript-enta-earnings-conference-034954056.html

[DewDiligence]

Additional details on Mavyret’s US scripts for week ending 2/1/19:

#msg-146684466

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 59% (from 56% the prior week) for the week ending 2/1.

[DewDiligence]

ENTA FY1Q19 results—GAAP EPS=$1.25:

https://www.enanta.com/investors/news-releases/press-release/2019/Enanta-Pharmaceuticals-Reports-Financial-Results-for-its-Fiscal-First-Quarter-and-Three-Months-Ended-December-31-2018/default.aspx

The cash balance at 12/31/18 was $357M.

[DewDiligence]

ABBV/ENTA had a 54%* worldwide share of 4Q18 combined ABBV/GILD HCV sales:

#msg-146569117

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 56% (from 56% the prior week) for the week ending 1/25.

[DewDiligence]

ABBV 4Q18 HCV sales=$862M—flat vs 3Q18:

#msg-146335275

[DewDiligence]

ENTA’s General Counsel exercised and held ~$150K of stock two days ago; the options in question did not expire until 2024:

https://www.sec.gov/Archives/edgar/data/1177648/000117764819000001/xslF345X03/edgar.xml

[DewDiligence]

The annual-meeting proxy has been filed:

https://www.sec.gov/Archives/edgar/data/1177648/000119312519012894/d659936ddef14a.htm

[DewDiligence]

ENTA CEO is a 5% shareholder (as of 12/20/18):

https://www.sec.gov/Archives/edgar/data/1177648/000119312519012904/d689970dsc13d.htm

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 54% (from 51% the prior week) for the week ending 1/11.

[DewDiligence]

New corporate slide set:

https://s22.q4cdn.com/306858242/files/doc_presentations/2019/01/03/January-3-2019-Corp-Presentation-Web.pdf

[DewDiligence]

ENTA enumerates clinical goals for 2019—discussion during today’s JPM presentation:

https://finance.yahoo.com/news/enanta-pharmaceuticals-updates-research-development-130000839.html

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 54% (from 53% the prior week) for the week ending 12/28 (prior week was Christmas)

[DewDiligence]

ENTA’s phase-2a RSV trial started recruiting 10/17/18:

https://clinicaltrials.gov/ct2/show/NCT03691623

The expected completion is Jun 2019.

[DewDiligence]

I don't have the weekly scripts yet—will post when I get them.

[JK2016]

Any news last Friday and this week on weekly Rx?

[DewDiligence]

That's the highest-ever weekly figure, according to IMS.

[guyschmid]

ABBV's Mavyret weekly NRx market share of the HCV market is at 55% (from 53% the prior week) for the week ending 11/30.

[DewDiligence]

ENTA’s General Counsel exercised and held $150K of stock today—the second such insider transaction recently:

https://www.sec.gov/Archives/edgar/data/1177648/000117764818000053/xslF345X03/edgar.xml

The exercised options did not expire until 2024.