Replies to post #235829 on Biotech Values

[DewDiligence]

ENTA new corporate slide set:

https://s22.q4cdn.com/306858242/files/doc_presentations/2020/11/Enanta-Corporate-Presentation-November-2020-Final.pdf

[jbog]

Dew, Did that not answer this persons question on the CC:

Enanta initiated with an Underperform at Evercore

Evercore ISI analyst Liisa Bayko initiated coverage of Enanta with an Underperform rating and $30 price target.





jbog Member Level Friday, 05/01/20 09:49:12 AM
Re: DewDiligence post# 231770 0
Post #
231771
of 235831
I'll have to dig up my notes but this may be enough of a drop to bring Enata close to zero income with their current burn. If so Enta will be back in the $30's until it shows some progress

[DewDiligence]

ENTA FY1Q21* results—royalty_revenue=$31.7M—12/31/20_cash=$405M:

https://www.enanta.com/investors/news-releases/press-release/2021/Enanta-Pharmaceuticals-Reports-Financial-Results-for-its-Fiscal-First-Quarter-Ended-December-31-2020-with-Webcast-and-Conference-Call-Today-at-430-p.m.-ET/default.aspx

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. During calendar 4Q20 (ENTA’s FY1Q21), ABBV sold $481M of Mavyret. (ABBV issued full-year 2021 guidance for Mavyret sales of $2.0B.)

ENTA’s 12/31/20 cash balance of $405M was down $14M from 9/30/20 (#msg-159678084).

ENTA previously issued FY2021* guidance for gross operating expenses (including non-cash components): $145-165M for R&D; and $27-33M for G&A. FY1Q21 actual operating expenses ($36.7M for R&D; $7.4M for G&A) were inline with the prior guidance.

*ENTA’s fiscal years end on Sep 30.