Enanta Pharmaceuticals Inc (ENTA) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $1.80 million, or $ 0.09 a share in the quarter, against a net profit of $5.81 million, or $0.29 a share in the last year period.
Revenue during the quarter dropped 10.93 percent to $12.84 million from $14.42 million in the previous year period. Operating margin for the quarter stood at negative 24.13 percent as compared to a positive 25.49 percent for the previous year period.
Operating loss for the quarter was $3.10 million, compared with an operating income of $3.67 million in the previous year period.
“Enanta made significant progress this past year and executed on its stated goals for advancing our pipeline,” commented Jay R. Luly, Ph.D., president and chief executive officer. “We initiated Phase 1 trials of EDP-305, our lead FXR agonist, which we are developing for the treatment of NASH, as well as EDP-494, our novel cyclophilin inhibitor. In addition, we advanced promising leads in RSV and HBV, which we are evaluating to move forward in 2017.”
Working capital increases sharply
Enanta Pharmaceuticals Inc has recorded an increase in the working capital over the last year. It stood at $224.27 million as at Sep. 30, 2016, up 36.80 percent or $60.33 million from $163.94 million on Sep. 30, 2015. Current ratio was at 29.43 as on Sep. 30, 2016, up from 25.45 on Sep. 30, 2015.
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