ENANTA PHARMACEUTICALS INC
ENTA · Pharmaceutical Preparations · 29.1M shares · +0%/yr ↑ dilution · EDGAR filings ↗
Reference price $14.23 · est. market cap ~$414M — last insider sale, 2025-12-05 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C57Royalty-backed virology/immunology biotech with a long cash runway and positive RSV proof-of-concept, but no wholly-owned approved product and continuing losses.
Strengths
- MAVYRET royalty stream plus cash $188M and a sector-leading ~23.5-quarter runway (92nd pct); funded into FY2029
- Strong RSV de-risking data: EDP-323 and EDP-938 challenge studies cut viral-load AUC ~80-90% (p<0.0001)
Risks
- Negative/again-uninterpretable readouts in NASH and PBC (EDP-305) and a missed pediatric RSV primary; ROE -1.27 (21st pct)
- Revenue wholly dependent on AbbVie's MAVYRET, which faces pricing and authorized-generic pressure
Notable findings
- Cash burnNegative free cash flow (-32.2M)
- Net lossNet loss (net margin -125.4%)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $189M cash & investments, ~24 quarters of runway
- Notable holderHeld by 5 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, STATE STREET CORP, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- Trial readout soonUpcoming trial readout ~2026-12 — PHASE2 · RSV Infection
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-130.7%
Net margin
-125.4%
Return on equity
-126.5%
Return on assets
-29.2%
Revenue growth (QoQ)
-7.8%
Current ratio
4.2×
Free cash flow
-$32M
EBITDA
-$81M
Tangible book value
$65M
Cash & investments
$189M
Cash runway
24q
Stock comp / revenue
28.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-02-12 | Kowalsky Matthew Paul | Grant | 1.3K | — |
| 2026-02-12 | Kowalsky Matthew Paul | Grant | 4.2K | — |
| 2026-02-12 | Kowalsky Matthew Paul | Tax withheld | 1.9K | $14.25 |
| 2026-02-12 | Luu Brendan | Grant | 1.6K | — |
| 2026-02-12 | Luu Brendan | Grant | 5.0K | — |
| 2026-02-12 | Luu Brendan | Tax withheld | 3.3K | $14.25 |
| 2026-02-12 | Kieffer Tara Lynn | Grant | 1.6K | — |
| 2026-02-12 | Kieffer Tara Lynn | Grant | 5.0K | — |
| 2026-02-12 | Kieffer Tara Lynn | Tax withheld | 3.3K | $14.25 |
| 2026-02-12 | Rottinghaus Scott T. | Grant | 1.6K | — |
| 2026-02-12 | Rottinghaus Scott T. | Grant | 5.2K | — |
| 2026-02-12 | Rottinghaus Scott T. | Tax withheld | 3.4K | $14.25 |
| 2026-02-12 | Or Yat Sun | Grant | 1.6K | — |
| 2026-02-12 | Or Yat Sun | Grant | 5.2K | — |
| 2026-02-12 | Or Yat Sun | Tax withheld | 3.4K | $14.25 |
| 2026-02-12 | Luly Jay R. | Grant | 4.8K | — |
| 2026-02-12 | Luly Jay R. | Grant | 15K | — |
| 2026-02-12 | Luly Jay R. | Tax withheld | 6.2K | $14.25 |
| 2025-12-05 | Capps Kathleen S. | Sell | 323 | $14.23 |
| 2025-12-05 | Trout Harry R. III | Sell | 542 | $14.23 |
| 2025-12-05 | Rottinghaus Scott T. | Sell | 798 | $14.23 |
| 2025-12-05 | Luu Brendan | Sell | 1.4K | $14.23 |
| 2025-12-05 | Kieffer Tara Lynn | Sell | 2.1K | $14.23 |
| 2025-12-05 | Or Yat Sun | Sell | 2.4K | $14.23 |
| 2025-12-05 | Luly Jay R. | Sell | 4.7K | $14.23 |
| 2025-12-02 | Trout Harry R. III | Sell | 380 | $13.96 |
| 2025-12-02 | Capps Kathleen S. | Sell | 207 | $13.96 |
| 2025-12-01 | Kieffer Tara Lynn | Tax withheld | 753 | $14.12 |
| 2025-12-01 | Or Yat Sun | Tax withheld | 753 | $14.12 |
| 2025-12-01 | Luly Jay R. | Tax withheld | 1.9K | $14.12 |
| 2025-12-01 | Capps Kathleen S. | Tax withheld | 85 | $14.12 |
| 2025-12-01 | Luu Brendan | Tax withheld | 498 | $14.12 |
| 2025-12-01 | Trout Harry R. III | Tax withheld | 105 | $14.12 |
| 2025-11-25 | Trout Harry R. III | Grant | 6.5K | — |
| 2025-11-25 | Capps Kathleen S. | Grant | 3.2K | — |
| 2025-08-08 | Rottinghaus Scott T. | Tax withheld | 2.2K | $6.99 |
| 2025-02-12 | Luly Jay R. | Grant | 26K | — |
| 2025-02-12 | Luly Jay R. | Tax withheld | 7.5K | $5.59 |
| 2025-02-12 | Luly Jay R. | Buy | 45K | $5.69 |
| 2025-02-12 | Luu Brendan | Grant | 7.5K | — |
| 2025-02-12 | Luu Brendan | Tax withheld | 3.3K | $5.59 |
| 2025-02-12 | Kieffer Tara Lynn | Grant | 7.5K | — |
| 2025-02-12 | Kieffer Tara Lynn | Tax withheld | 3.3K | $5.59 |
| 2025-02-12 | Rottinghaus Scott T. | Grant | 9.8K | — |
| 2025-02-12 | Rottinghaus Scott T. | Tax withheld | 2.9K | $5.59 |
| 2025-02-12 | Or Yat Sun | Grant | 9.8K | — |
| 2025-02-12 | Or Yat Sun | Tax withheld | 4.3K | $5.59 |
| 2025-02-12 | MELLETT PAUL J | Grant | 7.5K | — |
| 2025-02-12 | MELLETT PAUL J | Tax withheld | 3.3K | $5.59 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07540910 ↗ | A Study to Investigate the Safety, Tolerability, Pharmacokinetics, and Pharmacodynamics of Single and Multiple Doses of EDP-978 in Healthy Adults Chronic Inducible Urticaria, Chronic Spontaneous Urticaria | PHASE1 | Recruiting | 2026-11-01 |
| NCT07482657 ↗ | A Phase 2 Study to Investigate the Efficacy and Safety of Zelicapavir in Participants Aged ≥28 Days to ≤36 Months of Age Infected With Respiratory Syncytial Virus RSV Infection, RSV | PHASE2 | Not Yet Recruiting | 2026-12-01 |
| NCT05568706 ↗ | A Study of EDP-938 in Non-hospitalized Adults With RSV Who Are at High Risk for Complications. RSV Infection | PHASE2 | Completed | 2025-06-23 |
| NCT06917508 ↗ | A Study to Evaluate the Drug-Drug Interaction of EDP-323 With Midazolam, Caffeine, and Rosuvastatin in Healthy Participants RSV Infection, Drug Drug Interaction | PHASE1 | Completed | 2025-06-06 |
| NCT06847464 ↗ | A Drug-Drug Interaction Study to Evaluate the Effects of Itraconazole, Carbamazepine, Quinidine and Fluconazole on the Pharmacokinetics and Safety of EDP-323. RSV Infection, Drug Drug Interaction (DDI) | PHASE1 | Completed | 2025-05-24 |
| NCT06601192 ↗ | A Study to Investigate the Effects of Zelicapavir (EDP-938) on QTc Interval in Healthy Adults RSV Infection, QTc Interval | PHASE1 | Completed | 2025-02-02 |
| NCT04816721 ↗ | A Study to Evaluate EDP 938 Regimens in Children With RSV Respiratory Syncytial Virus (RSV) | PHASE2 | Completed | 2024-08-19 |
| NCT06170242 ↗ | A Controlled Phase 2a Study to Evaluate the Efficacy of EDP-323 Against Respiratory Syncytial Virus Infection in a Virus Challenge Model RSV Infection | PHASE2 | Completed | 2024-06-17 |
| NCT04633187 ↗ | Effects of EDP-938 in Hematopoietic Cell Transplant Recipients Infected With Respiratory Syncytial Virus of the Upper Respiratory Tract Respiratory Syncytial Virus Infections | PHASE2 | Terminated | 2023-05-31 |
| NCT05587478 ↗ | A Study of EDP-323 in Healthy Subjects RSV Infection | PHASE1 | Completed | 2023-03-29 |
| NCT05616728 ↗ | A Study to Evaluate EDP-235 in Non-hospitalized Adults With COVID-19 COVID-19 | PHASE2 | Completed | 2023-02-08 |
| NCT05594602 ↗ | Drug-Drug Interaction Study Between EDP-235, Itraconazole, Carbamazepine and Quinidine in Healthy Subjects. COVID-19 | PHASE1 | Completed | 2022-12-14 |
| NCT05594615 ↗ | Drug-Drug Interaction Study Between EDP-235, Midazolam, Caffeine and Rosuvastatin in Healthy Subjects COVID-19 | PHASE1 | Completed | 2022-11-04 |
| NCT05246878 ↗ | A Study of EDP-235 in Healthy Subjects SARS CoV 2 Infection | PHASE1 | Completed | 2022-07-20 |
| NCT04196101 ↗ | A Study to Assess EDP-938 for the Treatment of Acute Upper Respiratory Tract Infection With Respiratory Syncytial Virus in Adult Subjects Respiratory Syncytial Virus | PHASE2 | Completed | 2022-01-04 |
| NCT04971512 ↗ | A 2 PART STUDY EVALUATING EDP-721 IN HEALTHY SUBJECTS AND EDP-721 IN COMBINATION WITH EDP-514 IN PATIENTS WITH CHRONIC HEPATITIS B VIRUS INFECTION. Chronic Hepatitis B Virus Infection | PHASE1 | Terminated | 2021-12-20 |
| NCT04378010 ↗ | A Randomized, Double-blind Study to Assess the Safety and Efficacy of EDP-305 in Subjects With Liver-biopsy Proven NASH Non-Alcoholic Steatohepatitis | PHASE2 | Terminated | 2021-10-04 |
| NCT04470388 ↗ | A Study of EDP-514 in Patients With Chronic Hepatitis B Virus Infection Who Are Not Currently on Treatment Chronic HBV Infection | PHASE1 | Completed | 2021-08-30 |
| NCT04008004 ↗ | A Study of EDP-514 in Healthy Subjects (Part 1) and Patients With Chronic Hepatitis B Virus Infection (Part 2) Chronic HBV Infection | PHASE1 | Completed | 2021-07-14 |
| NCT04927793 ↗ | Absorption, Metabolism, and Excretion (AME) Study of [14C]EDP-938 in Healthy Male Subjects Respiratory Syncytial Virus (RSV) | PHASE1 | Completed | 2021-07-04 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (1)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-23 | 0001193125-26-279803 ↗ |
| 8-K | 2026-06-18 | 2026-06-18 | 0001193125-26-274950 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001193125-26-220572 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001193125-26-216735 ↗ |
| 8-K | 2026-03-26 | 2026-03-20 | 0001193125-26-125113 ↗ |
| 8-K | 2026-03-12 | 2026-03-11 | 0001193125-26-104109 ↗ |
| 10-Q | 2026-02-11 | 2025-12-31 | 0001193125-26-046502 ↗ |
| 8-K | 2026-02-09 | 2026-02-09 | 0001193125-26-042812 ↗ |
| 10-K | 2025-11-19 | 2025-09-30 | 0001193125-25-288121 ↗ |
| 8-K | 2025-11-17 | 2025-11-17 | 0001193125-25-284633 ↗ |
| 8-K | 2025-10-01 | 2025-09-30 | 0001193125-25-226828 ↗ |
| 8-K | 2025-09-29 | 2025-09-29 | 0001193125-25-221791 ↗ |