Enanta Pharmaceuticals (ENTA) saw its loss widen to $5.39 million, or $0.28 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $1.64 million, or $0.09 a share. Revenue during the quarter plunged 31.11 percent to $8.96 million from $13 million in the previous year period.
Operating loss for the quarter was $9.51 million, compared with an operating loss of $0.56 million in the previous year period.
"With our second partnered protease inhibitor product, glecaprevir, expected to launch starting in August, as part of AbbVie’s new, investigational G P treatment for HCV, the prospects for additional milestone and royalty payments to us for G P are significant,” stated Jay R. Luly, Ph.D., president and chief executive officer, Enanta. "Any such payments, coupled with our existing financial resources, will allow us to advance our clinical program in NASH PBC and also fund our additional R D programs, including our lead compound EDP-938 for RSV, scheduled to begin clinical development later this year."
Working capital declinesEnanta Pharmaceuticals has witnessed a decline in the working capital over the last year. It stood at $181.44 million as at Mar. 31, 2017, down 21.35 percent or $49.24 million from $230.68 million on Mar. 31, 2016. Current ratio was at 20.82 as on Mar. 31, 2017, up from 20.24 on Mar. 31, 2016. Days sales outstanding went up to 140 days for the quarter compared with 112 days for the same period last year.
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