ENTA Enanta Pharmaceuticals Inc.

48.75
-0.56  -1%
Previous Close 49.31
Open 49.27
52 Week Low 40.32
52 Week High 58.59
Market Cap $983,377,785
Shares 20,171,852
Float 15,874,286
Enterprise Value $617,195,022
Volume 122,552
Av. Daily Volume 155,015
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Upcoming Catalysts

Drug Stage Catalyst Date
EDP-514
Hepatitis B virus (HBV) - viremic chronic
Phase 1b
Phase 1b
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EDP-514
Hepatitis B - NUC-Suppressed
Phase 1b
Phase 1b
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EDP-305 ARGON-2
Non-alcoholic steatohepatitis (NASH)
Phase 2b
Phase 2b
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EDP-297
Non-alcoholic steatohepatitis (NASH)
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
EDP-938 (RSVTx)
Respiratory Syncytial Virus Infections
Phase 2b
Phase 2b
Phase 2b trial has been initiated.
EDP-938 (RSVP)
Respiratory Syncytial Virus (community-acquired)
Phase 2b
Phase 2b
Phase 2b trial ongoing. Data delayed due to RSV season not beginning in the Northern Hemisphere due to COVID-19 mitigation measures.
EDP-305 INTREPID
Primary biliary cholangitis (PBC)
Phase 2
Phase 2
Phase 2 top-line data did not meet primary endpoint - May 6, 2020.
VIEKIRA PAK - once-daily, fixed-dose formulation through Abbvie
HCV - genotype
Approved
Approved
Approved July 25, 2017.
VIEKIRA PAK
HCV - genotype 1
Approved
Approved
Approved December 19, 2014.
Glecaprevir/Pibrentasvir (G/P)
Hepatitis C virus (HCV)
Approved
Approved
Approval announced August 3, 2017.

Latest News

  1. 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 present at three upcoming virtual investor conferences:

    • H.C. Wainwright & Co. Global Life Sciences Conference: Corporate presentation available for on-demand viewing on Tuesday, March 9, 2021
    • 33rd Annual Roth Conference: Panel presentation "Therapies and Vaccines in the Fight Against COVID-19" on Monday, March 15, 2021 at 3:00 p.m. ET and corporate presentation available for on-demand viewing on Tuesday, March 9, 2021
    • Oppenheimer & Co. 31st Annual Healthcare Conference: Corporate presentation

    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 present at three upcoming virtual investor conferences:

    • H.C. Wainwright & Co. Global Life Sciences Conference: Corporate presentation available for on-demand viewing on Tuesday, March 9, 2021
    • 33rd Annual Roth Conference: Panel presentation "Therapies and Vaccines in the Fight Against COVID-19" on Monday, March 15, 2021 at 3:00 p.m. ET and corporate presentation available for on-demand viewing on Tuesday, March 9, 2021
    • Oppenheimer & Co. 31st Annual Healthcare Conference: Corporate presentation on Tuesday, March 16, 2021 at 8:00 a.m. ET

    Webcasts of each event will be accessible by visiting the "Events and Presentations" section on the "Investors" page of Enanta's website at www.enanta.com. A replay of each webcast will be available following the presentations and will be archived for approximately 90 days.

    About Enanta

    Enanta is using its robust, chemistry-driven approach and drug discovery capabilities to become a leader in the discovery and development of small molecule drugs for the treatment of viral infections and liver diseases. Enanta's research and development efforts have produced clinical candidates for the following disease targets: respiratory syncytial virus (RSV), hepatitis B virus (HBV) and non-alcoholic steatohepatitis (NASH). Enanta is also conducting research in human metapneumovirus (hMPV) and SARS-CoV-2 (COVID-19).

    Enanta's research and development activities are funded by royalties from hepatitis C virus (HCV) products developed under its collaboration with AbbVie. Glecaprevir, a protease inhibitor discovered by Enanta, is sold by AbbVie in numerous countries as part of its leading treatment for chronic HCV infection under the tradenames MAVYRET® (U.S.) and MAVIRET® (ex-U.S.) (glecaprevir/pibrentasvir). Please visit www.enanta.com for more information.

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  2. 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 present at the SVB Leerink 10th Annual Global Healthcare Conference on Thursday, February 25, 2021 at 8:40 am ET.

    A live webcast of the presentation will be accessible by visiting the "Events and Presentations" section on the "Investors" page of Enanta's website at www.enanta.com. A replay of the webcast will be available following the presentation and will be archived for approximately 90 days.

    About Enanta

    Enanta is using its robust, chemistry-driven approach and drug discovery capabilities…

    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 present at the SVB Leerink 10th Annual Global Healthcare Conference on Thursday, February 25, 2021 at 8:40 am ET.

    A live webcast of the presentation will be accessible by visiting the "Events and Presentations" section on the "Investors" page of Enanta's website at www.enanta.com. A replay of the webcast will be available following the presentation and will be archived for approximately 90 days.

    About Enanta

    Enanta is using its robust, chemistry-driven approach and drug discovery capabilities to become a leader in the discovery and development of small molecule drugs for the treatment of viral infections and liver diseases. Enanta's research and development efforts have produced clinical candidates for the following disease targets: respiratory syncytial virus (RSV), hepatitis B virus (HBV) and non-alcoholic steatohepatitis (NASH). Enanta is also conducting research in human metapneumovirus (hMPV) and SARS-CoV-2 (COVID-19).

    Enanta's research and development activities are funded by royalties from hepatitis C virus (HCV) products developed under its collaboration with AbbVie. Glecaprevir, a protease inhibitor discovered by Enanta, is sold by AbbVie in numerous countries as part of its leading treatment for chronic HCV infection under the tradenames MAVYRET® (U.S.) and MAVIRET® (ex-U.S.) (glecaprevir/pibrentasvir). Please visit www.enanta.com for more information.

    View Full Article Hide Full Article
    • Broadened Hepatitis B Virus (HBV) Program with EDP-721, a New Oral HBV RNA Destabilizer, as a Potential Component of a Functional HBV Cure Regimen; Plan to Initiate Phase 1 Study Mid-2021
    • Initiated RSVTx, a Phase 2b Study of EDP-938 in Adult Hematopoietic Cell Transplant Recipients with Acute Respiratory Syncytial Virus (RSV) Infection
    • Expanded RSV Program with a Discovery Initiative for Novel RSV L-Protein Inhibitors
    • Royalty Revenue for the Quarter was $31.7 Million
    • Cash and Marketable Securities Totaled $404.7 Million at December 31, 2020

    Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical-stage biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, today reported financial results…

    • Broadened Hepatitis B Virus (HBV) Program with EDP-721, a New Oral HBV RNA Destabilizer, as a Potential Component of a Functional HBV Cure Regimen; Plan to Initiate Phase 1 Study Mid-2021
    • Initiated RSVTx, a Phase 2b Study of EDP-938 in Adult Hematopoietic Cell Transplant Recipients with Acute Respiratory Syncytial Virus (RSV) Infection
    • Expanded RSV Program with a Discovery Initiative for Novel RSV L-Protein Inhibitors
    • Royalty Revenue for the Quarter was $31.7 Million
    • Cash and Marketable Securities Totaled $404.7 Million at December 31, 2020

    Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical-stage biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, today reported financial results for its fiscal first quarter ended December 31, 2020.

    "Our first fiscal quarter of 2021 was an especially active time, as we advanced and expanded our wholly-owned pipeline. In HBV, not only did we advance our two ongoing Phase 1b trials of EDP-514, but we also broadened our program with the introduction of EDP-721, a novel HBV RNA destabilizer. We believe that an all-oral regimen of EDP-514, EDP-721 and a nucleos(t)ide reverse transcriptase inhibitor has the potential to lead to a functional cure. We anticipate having preliminary data in our two existing HBV trials in the second quarter of 2021, with a Phase 1 study of EDP-721 on track to initiate mid-year," stated Jay R. Luly, Ph.D., President and Chief Executive Officer of Enanta Pharmaceuticals.

    "We also made meaningful progress on our RSV franchise, initiating an RSV L-protein inhibitor discovery effort centered on potent nanomolar leads active against both RSV-A and RSV-B. Further, we initiated the Phase 2b RSVTx study evaluating EDP-938 in adult hematopoietic cell transplant recipients with RSV, and remain on track to initiate the Phase 2 RSVPEDs study of EDP-938 in pediatric patients with RSV this quarter. Meanwhile, we are in the process of expanding clinical sites for RSVP in Europe and Asia Pacific, so that we are ready when RSV re-emerges. Additionally, we are making significant progress in our discovery efforts in human metapneumovirus (hMPV) and SARS-CoV-2 (COVID-19), with the goal of identifying two clinical candidates this year from among our hMPV, COVID-19 and RSV discovery programs. Importantly, our strategy for COVID-19 involves targeting mechanisms that should be effective against emerging spike protein variants," continued Dr. Luly.

    "Finally, our non-alcoholic steatohepatitis (NASH) program is progressing with the ARGON-2 trial of EDP-305 and the Phase 1 study of EDP-297 ongoing, and we look forward to having valuable insights around mid-year to inform next steps for our NASH program. Looking ahead, we believe the upcoming year will be important for Enanta, as we progress through numerous milestones across our entire pipeline."

    Fiscal First Quarter Ended December 31, 2020 Financial Results

    Total revenue for the three months ended December 31, 2020 was $31.7 million and consisted entirely of royalty revenue from worldwide net sales of AbbVie's hepatitis C virus (HCV) regimens. For the three months ended December 31, 2019, total royalty revenue was $52.6 million on AbbVie's higher HCV sales. As reported by AbbVie, continued lower HCV product sales were due primarily to lower treated patient volumes during the COVID-19 pandemic.

    Research and development expenses totaled $36.7 million for the three months ended December 31, 2020, compared to $32.8 million for the three months ended December 31, 2019. The increase was primarily due to the timing of the company's clinical trials year over year.

    General and administrative expenses totaled $7.4 million for the three months ended December 31, 2020, compared to $6.9 million for the three months ended December 31, 2019. This increase was primarily due to increased headcount and compensation expense.

    Enanta recorded an income tax benefit of $3.3 million for the three months ended December 31, 2020 compared to income tax expense of $1.5 million for the same period in 2019. Enanta recorded an income tax benefit during the three months ended December 31, 2020 due to the provision of the CARES Act of 2020, which enables the Company to carry back its projected current year tax loss to offset taxable income in prior years.

    Net loss for the three months ended December 31, 2020 was $8.3 million, or a loss of $0.41 per diluted common share, compared to net income of $13.4 million, or $0.65 per diluted common share, for the corresponding period in 2019.

    Enanta's cash, cash equivalents and short-term and long-term marketable securities totaled $404.7 million at December 31, 2020. Enanta expects that its current cash, cash equivalents and marketable securities, as well as its continuing royalty revenue, will be sufficient to meet the anticipated cash requirements of its existing business and development programs for the foreseeable future.

    Pipeline Programs and Near-Term Milestones

    Virology

    • RSV: N-Protein Inhibitor EDP-938

    - RSVP, a Phase 2b randomized, double-blind, placebo-controlled study in 70 adult outpatients with community-acquired RSV infection, is ongoing, but to date the 2021 RSV season in the Northern Hemisphere has not yet begun due to COVID-19 mitigation measures. Enanta has made extensive efforts to more than double its clinical sites globally, including sites across Europe and Asia-Pacific, to be ready when RSV re-emerges.

    - Initiated RSVTx, a Phase 2b randomized, double-blind, placebo-controlled study in 200 adult hematopoietic cell transplant recipients with acute RSV infection and symptoms of upper respiratory tract infection.

    - On schedule to initiate RSVPEDs, a Phase 2 randomized, double-blind, placebo-controlled study in 90 hospitalized and non-hospitalized pediatric RSV patients in the first quarter of calendar 2021.

    • HBV: Core Inhibitor EDP-514 and RNA Destabilizer EDP-721

    - Introduced EDP-721, a potent and selective HBV RNA destabilizer, for use alone or in combination with other mechanisms, such as EDP-514, with the goal of achieving an all-oral functional cure. Enanta expects to initiate a Phase 1 clinical study of EDP-721 in mid-2021.

    - Phase 1b study of EDP-514 in viremic HBV patients is ongoing, with preliminary data expected in the second quarter of calendar 2021.

    - Phase 1b study of EDP-514 in NUC-suppressed HBV patients is ongoing, with preliminary data expected in the second quarter of calendar 2021.

    • Respiratory Virology Discovery Programs – In 2021, Enanta expects to identify clinical development candidates for two of its three programs below:

    - RSV L-Protein Inhibitor

    °   Recently announced an RSV L-inhibitor discovery initiative with potent nanomolar leads active against both RSV-A and RSV-B, for potential use alone or in combination with agents targeting other RSV mechanisms, such as EDP-938.

    - COVID-19

    °   Urgently performing lead optimization on direct-acting antiviral leads targeting mechanisms that should be effective against emerging spike protein variants.

    - hMPV

    °   Continue performing lead optimization on current nanomolar hMPV inhibitor leads.

    NASH

    • Farnesoid X Receptor (FXR) Agonist EDP-305

    - Continue recruitment and dosing in ARGON-2 Phase 2b study of EDP-305, with a blinded 12-week interim analysis on a subset of patients, for Enanta's internal use, expected in mid-2021.

    • FXR Agonist EDP-297

    - Continue recruitment and dosing in a Phase 1 study of EDP-297, with data expected in mid-2021.

    Corporate

    • Announced the appointment of several key new hires, including

    - Tara Kieffer, Ph.D., Senior Vice President, New Product Strategy and Development;

    - Brendan Luu, Senior Vice President, Business Development; and

    - John DeVincenzo, M.D., Vice President, Translational Virology.

    Upcoming Events and Presentations

    • SVB Leerink Global Healthcare Conference (February 23-26, 2021, Virtual)
    • Enanta Annual Shareholder Meeting (March 2, 2021, Virtual)
    • H.C. Wainwright Global Life Sciences Conference (March 9-10, 2021, Virtual)
    • ROTH Capital Partners Annual Conference (March 15-17, 2021, Virtual)
    • Oppenheimer & Co. Annual Healthcare Conference (March 16-17, 2021, Virtual)
    • Enanta Fiscal Second Quarter 2021 Financial Results Webcast and Conference Call (May 6, 2021)

    Conference Call and Webcast Information

    Enanta will host a conference call and webcast today at 4:30 p.m. ET. To participate in the live conference call, please dial 855-840-0595 in the U.S. or 518-444-4814 for international callers. A replay of the conference call will be available starting at approximately 7:30 p.m. ET on February 8, 2021, through 11:59 p.m. ET on February 12, 2021 by dialing 855-859-2056 from the U.S. or 404-537-3406 for international callers. The passcode for both the live call and the replay is 2854627. A live audio webcast of the call and replay can be accessed by visiting the "Events and Presentations" section on the "Investors" page of Enanta's website at www.enanta.com.

    About Enanta

    Enanta is using its robust, chemistry-driven approach and drug discovery capabilities to become a leader in the discovery and development of small molecule drugs for the treatment of viral infections and liver diseases. Enanta's research and development efforts have produced clinical candidates for the following disease targets: respiratory syncytial virus (RSV), hepatitis B virus (HBV) and non-alcoholic steatohepatitis (NASH). Enanta is also conducting research in human metapneumovirus (hMPV) and SARS-CoV-2 (COVID-19).

    Enanta's research and development activities are funded by royalties from hepatitis C virus (HCV) products developed under its collaboration with AbbVie. Glecaprevir, a protease inhibitor discovered by Enanta, is sold by AbbVie in numerous countries as part of its leading treatment for chronic HCV infection under the tradenames MAVYRET® (U.S.) and MAVIRET® (ex-U.S.) (glecaprevir/pibrentasvir). Please visit www.enanta.com for more information.

    Forward Looking Statements

    This press release contains forward-looking statements, including statements with respect to the prospects for advancement of Enanta's clinical programs in RSV, HBV and NASH, as well as its discovery programs in SARS-CoV-2 and hMPV and prospects for future royalty revenue from sales of AbbVie's MAVYRET®/MAVIRET® regimen for HCV. Statements that are not historical facts are based on management's current expectations, estimates, forecasts and projections about Enanta's business and the industry in which it operates and management's beliefs and assumptions. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors and risks that may affect actual results include: the impact of development, regulatory and marketing efforts of others with respect to competitive treatments for RSV, HBV, NASH, SARS-CoV-2 and hMPV; the discovery and development risks of Enanta's programs in RSV, HBV, NASH, SARS-CoV-2 and hMPV; the competitive impact of development, regulatory and marketing efforts of others in those disease areas; the dependence of Enanta's revenues in the short-term upon AbbVie's sales of its MAVYRET/MAVIRET HCV regimen; any continuing impact of the COVID-19 pandemic on Enanta's royalty revenues, business operations and clinical trials; Enanta's lack of clinical development experience; Enanta's need to attract and retain senior management and key research and development personnel; Enanta's need to obtain and maintain patent protection for its product candidates and avoid potential infringement of the intellectual property rights of others; and other risk factors described or referred to in "Risk Factors" in Enanta's most recent Form 10-K for the fiscal year ended September 30, 2020, and any other periodic reports filed more recently with the Securities and Exchange Commission. Enanta cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Enanta undertakes no obligation to update or revise these statements, except as may be required by law.

     
    ENANTA PHARMACEUTICALS, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    UNAUDITED
    (in thousands, except per share amounts)
     
     
    Three Months Ended
    December 31,

     

    2020

     

     

    2019

     

     
    Revenue

    $

    31,743

     

    $

    52,570

     

    Operating expenses
    Research and development

     

    36,665

     

     

    32,778

     

    General and administrative

     

    7,377

     

     

    6,921

     

    Total operating expenses

     

    44,042

     

     

    39,699

     

    Income (loss) from operations

     

    (12,299

    )

     

    12,871

     

    Other income, net

     

    677

     

     

    2,076

     

    Income (loss) before income taxes

     

    (11,622

    )

     

    14,947

     

    Income tax (expense) benefit

     

    3,294

     

     

    (1,504

    )

    Net income (loss)

    $

    (8,328

    )

    $

    13,443

     

    Net income (loss) per share
    Basic

    $

    (0.41

    )

    $

    0.68

     

    Diluted

    $

    (0.41

    )

    $

    0.65

     

    Weighted average common shares outstanding
    Basic

     

    20,093

     

     

    19,751

     

    Diluted

     

    20,093

     

     

    20,773

     

     
    ENANTA PHARMACEUTICALS, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    UNAUDITED
    (in thousands)
     

    December 31,

    September 30,

    2020

    2020

    Assets
    Current assets
    Cash and cash equivalents

    $

    55,095

    $

    87,131

    Short-term marketable securities

     

    331,101

     

    299,518

    Accounts receivable

     

    31,743

     

    23,492

    Prepaid expenses and other current assets

     

    28,003

     

    26,696

    Total current assets

     

    445,942

     

    436,837

    Long-term marketable securities

     

    18,462

     

    32,634

    Property and equipment, net

     

    7,788

     

    8,596

    Deferred tax assets

     

    345

     

    345

    Operating lease, right-of-use assets

     

    7,775

     

    7,020

    Restricted cash

     

    608

     

    608

    Other long-term assets

     

    92

     

    92

    Total assets

    $

    481,012

    $

    486,132

    Liabilities and Stockholders' Equity
    Current liabilities
    Accounts payable

    $

    6,305

    $

    5,737

    Accrued expenses and other current liabilities

     

    11,542

     

    14,159

    Operating lease liabilities

     

    5,197

     

    4,261

    Total current liabilities

     

    23,044

     

    24,157

    Operating lease liabilities, net of current portion

     

    3,520

     

    3,838

    Series 1 nonconvertible preferred stock

     

    1,479

     

    1,479

    Other long-term liabilities

     

    974

     

    1,078

    Total liabilities

     

    29,017

     

    30,552

    Total stockholders' equity

     

    451,995

     

    455,580

    Total liabilities and stockholders' equity

    $

    481,012

    $

    486,132

     

     

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  3. 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 plans to report its financial results for its fiscal first quarter ended December 31, 2020 after the U.S. markets close on February 8, 2021. Enanta management will host a conference call at 4:30 p.m. ET to discuss these results and provide an update on Enanta's business, including its research and development pipeline.

    Conference Call and Webcast Information

    To participate in the live conference call, please dial 855-840-0595 in the U.S. or 518-444-4814 for international callers. A replay of the conference call will be available starting at approximately…

    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 plans to report its financial results for its fiscal first quarter ended December 31, 2020 after the U.S. markets close on February 8, 2021. Enanta management will host a conference call at 4:30 p.m. ET to discuss these results and provide an update on Enanta's business, including its research and development pipeline.

    Conference Call and Webcast Information

    To participate in the live conference call, please dial 855-840-0595 in the U.S. or 518-444-4814 for international callers. A replay of the conference call will be available starting at approximately 7:30 p.m. ET on February 8, 2021, through 11:59 p.m. ET on February 12, 2021 by dialing 855-859-2056 from the U.S. or 404-537-3406 for international callers. The passcode for both the live call and the replay is 2854627. A live audio webcast of the call and replay can be accessed by visiting the "Events and Presentations" section on the "Investors" page of Enanta's website at www.enanta.com.

    About Enanta

    Enanta is using its robust, chemistry-driven approach and drug discovery capabilities to become a leader in the discovery and development of small molecule drugs for the treatment of viral infections and liver diseases. Enanta's research and development efforts have produced clinical candidates for the following disease targets: respiratory syncytial virus (RSV), hepatitis B virus (HBV) and non-alcoholic steatohepatitis (NASH). Enanta is also conducting research in human metapneumovirus (hMPV) and SARS-CoV-2 (COVID-19).

    Enanta's research and development activities are funded by royalties from hepatitis C virus (HCV) products developed under its collaboration with AbbVie. Glecaprevir, a protease inhibitor discovered by Enanta, is sold by AbbVie in numerous countries as part of its leading treatment for chronic HCV infection under the tradenames MAVYRET® (U.S.) and MAVIRET® (ex-U.S.) (glecaprevir/pibrentasvir). Please visit www.enanta.com for more information.

    View Full Article Hide Full Article
  4. Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical stage biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, today announced the appointment of Brendan Luu as Senior Vice President, Business Development and member of the company's senior management team. Mr. Luu brings more than 20 years of diversified business development and sales and marketing experience in the pharmaceutical and technology fields to Enanta, spanning a broad range of therapeutic areas, asset stages and deal structures.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210126005236/en/

    Brendan Luu, Senior Vice President, Business Development, Enanta Pharmaceuticals (Photo: Business Wire)

    Brendan Luu, Senior Vice President, Business Development, Enanta Pharmaceuticals…

    Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical stage biotechnology company dedicated to creating small molecule drugs for viral infections and liver diseases, today announced the appointment of Brendan Luu as Senior Vice President, Business Development and member of the company's senior management team. Mr. Luu brings more than 20 years of diversified business development and sales and marketing experience in the pharmaceutical and technology fields to Enanta, spanning a broad range of therapeutic areas, asset stages and deal structures.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210126005236/en/

    Brendan Luu, Senior Vice President, Business Development, Enanta Pharmaceuticals (Photo: Business Wire)

    Brendan Luu, Senior Vice President, Business Development, Enanta Pharmaceuticals (Photo: Business Wire)

    "It is an ideal time to welcome Brendan to the Enanta team, particularly as we prepare for a catalyst-rich year, including data readouts, in our wholly owned pipeline of virology and liver disease treatment candidates," said Jay R. Luly, Ph.D., President and Chief Executive Officer. "In the coming year and continuing through the advancement of our clinical and preclinical programs, Brendan's insights and experience leading business development growth strategies will be tremendous assets to Enanta."

    "Enanta is an established leader in the discovery and development of virology and liver disease treatments. The company's product candidates for respiratory syncytial virus, hepatitis B virus and non-alcoholic steatohepatitis have transformative potential for the treatment of patients in these significant disease populations, and Enanta's discovery efforts in human metapneumovirus and SARS-CoV-2 are equally promising," said Brendan Luu. "I am eager to collaborate with the company's seasoned leadership team to continue their proven legacy of success and bring meaningful treatments to patients in need."

    Mr. Luu joins Enanta following 17 years at Merck KGaA, where he held roles of increasing responsibility. Most recently, he was Vice President and Global Head of Oncology Business Development, responsible for setting the franchise business development strategy and was accountable for its execution, including the completion of several major transactions across all stages of drug development in line with the company's R&D goals. Prior to assuming the role in 2018, Mr. Luu was Senior Director and Global Head of Business Development, Strategic Initiatives, where he led the strategy and partnering efforts to secure external financing for Merck KGaA's late-stage pipeline. Before that, Mr. Luu was Director, Global Licensing and Business Development, Neurology and Immunology, where he led in/out licensing transactions for preclinical and clinical-stage assets to support R&D in neurodegenerative diseases. Previously, he was an Associate Director of Regional Business Development, General Medicines responsible for growing the product portfolio in the Asia-Pacific region. Earlier in his career, he held various roles in the chemicals industry with BASF Corporation and in telecommunications with Tyco International, working in engineering, sales and marketing.

    Mr. Luu graduated magna cum laude from Drexel University with a B.S. in Chemical Engineering and Biology. He also holds an M.B.A. from the New York University Stern School of Business.

    About Enanta Pharmaceuticals, Inc.

    Enanta is using its robust, chemistry-driven approach and drug discovery capabilities to become a leader in the discovery and development of small molecule drugs for the treatment of viral infections and liver diseases. Enanta's research and development efforts have produced clinical candidates for the following disease targets: respiratory syncytial virus (RSV), hepatitis B virus (HBV) and non-alcoholic steatohepatitis (NASH). Enanta is also conducting research in human metapneumovirus (hMPV) and SARS-CoV-2 (COVID-19).

    Enanta's research and development activities are funded by royalties from hepatitis C virus (HCV) products developed under its collaboration with AbbVie. Glecaprevir, a protease inhibitor discovered by Enanta, is sold by AbbVie in numerous countries as part of its leading treatment for chronic HCV infection under the tradenames MAVYRET® (U.S.) and MAVIRET® (ex-U.S.) (glecaprevir/pibrentasvir). Please visit www.enanta.com for more information.

    FORWARD LOOKING STATEMENTS

    This press release contains forward-looking statements, including statements with respect to the prospects for advancement of Enanta's clinical development programs. Statements that are not historical facts are based on management's current expectations, estimates, forecasts and projections about Enanta's business and the industry in which it operates and management's beliefs and assumptions. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors and risks that may affect actual results include: the discovery and development risks of Enanta's programs in RSV, NASH, HBV, hMPV and SARS-CoV-2; the competitive impact of development, regulatory and marketing efforts of others in those disease areas; any continuing impact of the COVID-19 pandemic on Enanta's business operations and clinical trials; Enanta's lack of clinical development experience; Enanta's need to attract and retain senior management and key research and development personnel; Enanta's need to obtain and maintain patent protection for its product candidates and avoid potential infringement of the intellectual property rights of others; and other risk factors described or referred to in "Risk Factors" in Enanta's most recent Form 10-K for the fiscal year ended September 30, 2020, and other periodic reports filed more recently with the Securities and Exchange Commission. Enanta cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Enanta undertakes no obligation to update or revise these statements, except as may be required by law.

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