Replies to post #6074 on Enanta Pharmaceuticals Inc (ENTA)

[DewDiligence]

Including calendar 1Q26 (for which ENTA’s gross royalty from ABBV will be ~$35M), ENTA’s cumulative payments to OMERS will amount to about $118M in only 2.5 years. That leaves only $166M to reach the $284M ceiling.

[DewDiligence]

Re: Cash-runway guidance revisited

The renewed growth of Mavyret royalties—if sustained—effectively ENTA’s extends the cash runway by 4-5 quarters since the OMERS loan will be fully satisfied in late 2029 or early 2030, and ENTA will keep 100% of the Mavyret royalties from that point on.

ENTA is certainly not going to alter its formal cash-runway guidance (sufficient cash to get “into FY2029”) yet, but we can nevertheless adjust our own valuation models to take the above into account.