Enanta Pharmaceuticals, Inc (ENTA) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $4.98 million, or $ 0.26 a share in the quarter, against a net profit of $26.19 million, or $1.36 a share in the last year period. Revenue during the quarter plunged 78.50 percent to $10.42 million from $48.44 million in the previous year period. Operating margin for the quarter stood at negative 67.64 percent as compared to a positive 73.47 percent for the previous year period.
Operating loss for the quarter was $7.05 million, compared with an operating income of $35.59 million in the previous year period.
"With the NDA for glecaprevir/pibrentasvir, or G/P, now having been granted priority review in the U.S. and the MAA for G/P validated with accelerated assessment in the EU, we expect to earn a substantial portion of the $80 million in commercialization regulatory approval milestone payments for G/P in calendar 2017," commented Jay R. Luly, Ph.D., president and chief executive officer. “This collaboration, along with our existing financial resources, is providing funding for our advancing pipeline. We expect to complete our Phase 1 study of EDP-305 mid-year and later this year plan to initiate a Phase 2 study of EDP-305 in PBC. We also plan the initiation of clinical development of our lead RSV compound, EDP-938 in calendar 2017."
Working capital increases
Enanta Pharmaceuticals, Inc has recorded an increase in the working capital over the last year. It stood at $217.63 million as at Dec. 31, 2016, up 9.83 percent or $19.48 million from $198.15 million on Dec. 31, 2015. Current ratio was at 34.84 as on Dec. 31, 2016, up from 19.23 on Dec. 31, 2015. Days sales outstanding went up to 115 days for the quarter compared with 33 days for the same period last year.
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