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.)