Enanta Pharmaceuticals
ENTANASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $11.22 Prior regular-session close from the quote source.
- $11.17–$11.70 Regular-session low and high so far today.
- 208.9K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $10.05–$17.15 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own ENTA if declining MAVYRET/MAVIRET HCV royalties buy enough time for wholly owned RSV and KIT/STAT6 immunology programs to produce partnerable clinical data before dilution becomes the dominant outcome.
ENTA price history
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Investment thesis
What must happen next
AbbVie’s MAVYRET/MAVIRET franchise remains a usable non-dilutive funding bridge, but not a durable growth engine, so Enanta’s pipeline must be built before HCV royalties fade.HoldingMateriality: High
FY2025 GAAP annual revenue was $65.324 million, versus $67.635 million in FY2024 and $79.204 million in FY2023, showing the royalty base is declining but still material. If the bridge holds, Enanta can fund data creation without immediately surrendering economics; if it breaks, the company becomes dependent on dilutive capital or distressed partnerships.
Watch: AbbVie loses MAVYRET/MAVIRET share to competing HCV regimens such as Gilead’s Epclusa or to generic/direct-acting antiviral pricing pressure.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 GAAP annual revenue was $65.324 million, versus $67.635 million in FY2024 and $79.204 million in FY2023, showing the royalty.
Open source ↗RSV remains worth funding if small-molecule antivirals can treat active infection in high-risk patients where vaccines and monoclonal prevention do not fully solve hospitalization risk.HoldingMateriality: High
Item 1 and MD&A identify RSV as Enanta’s active virology focus and cite a large U.S. disease burden: up to 6.5 million outpatient visits, 350,000 hospitalizations, and 23,000 deaths annually. Positive RSV differentiation could make Enanta’s virology assets partnerable; failure would remove one of the clearest paths from royalty-funded R&D to enterprise value.
Watch: Pfizer, GSK, or Moderna RSV vaccines, or Sanofi/AstraZeneca’s Beyfortus, reduce severe RSV disease enough to shrink the treatment opportunity.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 and MD&A identify RSV as Enanta’s active virology focus and cite a large U.S. disease burden: up to.
Open source ↗Enanta’s KIT and STAT6 programs create value only if selective oral small molecules can offer enough efficacy, safety, and convenience to compete with entrenched biologics and other oral immunology approaches across CSU, AD, and related type 2 diseases.HoldingMateriality: Medium
Item 1 says KIT regulates mast-cell survival and activation, including histamine release, while STAT6 is uniquely responsible for IL-4/IL-13 signaling that drives type 2 inflammation. If oral KIT/STAT6 works, Enanta gains a multi-indication immunology platform; if selectivity or efficacy disappoints, the large market sizes do not translate into economic value.
Watch: Sanofi/Regeneron’s Dupixent, Novartis’s Xolair or remibrutinib, or another oral immunology competitor sets an efficacy/safety bar Enanta cannot match.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 says KIT regulates mast-cell survival and activation, including histamine release, while STAT6 is uniquely responsible for IL-4/IL-13 signaling.
Open source ↗The royalty stream, short-term investments, and October 2025 financing give Enanta time to seek value-creating data or partnerships, but the model fails for shareholders if burn reaccelerates before clinical validation.StrengtheningMateriality: Medium
FY2025 GAAP annual operating cash flow was negative $19.272 million, improved from negative $78.764 million in FY2024 and negative $103.154 million in FY2023. Runway determines whether Enanta can negotiate from strength or must dilute owners to keep optionality alive.
Watch: RSV or immunology programs require larger, longer, or repeated trials before producing partnerable proof-of-concept data.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 GAAP annual operating cash flow was negative $19.272 million, improved from negative $78.764 million in FY2024 and negative $103.154.
Open source ↗
Full investment case & evidence
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Original research
AbbVie’s MAVYRET/MAVIRET franchise remains a usable non-dilutive funding bridge, but not a durable growth engine, so Enanta’s pipeline must be built before HCV royalties fade. If the bridge holds, Enanta can fund data creation without immediately surrendering economics; if it breaks, the company becomes dependent on dilutive capital or distressed partnerships.
RSV remains worth funding if small-molecule antivirals can treat active infection in high-risk patients where vaccines and monoclonal prevention do not fully solve hospitalization risk. Positive RSV differentiation could make Enanta’s virology assets partnerable; failure would remove one of the clearest paths from royalty-funded R&D to enterprise value.
Enanta’s KIT and STAT6 programs create value only if selective oral small molecules can offer enough efficacy, safety, and convenience to compete with entrenched biologics and other oral immunology approaches across CSU, AD, and related type 2 diseases. If oral KIT/STAT6 works, Enanta gains a multi-indication immunology platform; if selectivity or efficacy disappoints, the large market sizes do not translate into economic value.
The royalty stream, short-term investments, and October 2025 financing give Enanta time to seek value-creating data or partnerships, but the model fails for shareholders if burn reaccelerates before clinical validation. Runway determines whether Enanta can negotiate from strength or must dilute owners to keep optionality alive.
All standing thesis claims
Original report summary
declining MAVYRET/MAVIRET HCV royalties buy enough time for wholly owned RSV and KIT/STAT6 immunology programs to produce partnerable clinical data before dilution becomes the dominant outcome.
Bull case and bear case
Bull case and bear case for Enanta Pharmaceuticals
Where the evidence on Enanta Pharmaceuticals stands: Holding on the latest evidence (Nov 9, 2026). Of its 4 thesis points, 1 strengthening and 3 holding.
Bull case: what the evidence supports
AbbVie’s MAVYRET/MAVIRET franchise remains a usable non-dilutive funding bridge, but not a durable growth engine, so Enanta’s pipeline must be built before HCV royalties fade.
RSV remains worth funding if small-molecule antivirals can treat active infection in high-risk patients where vaccines and monoclonal prevention do not fully solve hospitalization risk.
Enanta’s KIT and STAT6 programs create value only if selective oral small molecules can offer enough efficacy, safety, and convenience to compete with entrenched biologics and other oral immunology approaches across CSU, AD, and related type 2 diseases.
The royalty stream, short-term investments, and October 2025 financing give Enanta time to seek value-creating data or partnerships, but the model fails for shareholders if burn reaccelerates before clinical validation.
Bear case: what would count against it
AbbVie loses MAVYRET/MAVIRET share to competing HCV regimens such as Gilead’s Epclusa or to generic/direct-acting antiviral pricing pressure.
Pfizer, GSK, or Moderna RSV vaccines, or Sanofi/AstraZeneca’s Beyfortus, reduce severe RSV disease enough to shrink the treatment opportunity.
Sanofi/Regeneron’s Dupixent, Novartis’s Xolair or remibrutinib, or another oral immunology competitor sets an efficacy/safety bar Enanta cannot match.
Thesis-Break Engine
What has broken in Enanta Pharmaceuticals’s thesis
Each break OptimistFi flagged on Enanta Pharmaceuticals, dated — with what has historically followed the same kind of break across the market, not a forecast for Enanta Pharmaceuticals.
- CEO / officer changecondition set before this filing
Across all companies, this kind of break has happened 16,849 times before. Those stocks trailed comparable companies by a median of 2% over the next six months, and 38% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedOther material event.
Enanta Pharmaceuticals filed an SEC 8-K on 2026-10-29: Other material event. It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Enanta Pharmaceuticals filed an SEC 8-K on 2026-10-28: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Enanta Pharmaceuticals filed an SEC 8-K on 2026-08-10: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- AbbVie loses MAVYRET/MAVIRET share to competing HCV regimens such as Gilead’s Epclusa or to generic/direct-acting antiviral pricing pressure.
- Pfizer, GSK, or Moderna RSV vaccines, or Sanofi/AstraZeneca’s Beyfortus, reduce severe RSV disease enough to shrink the treatment opportunity.
- Sanofi/Regeneron’s Dupixent, Novartis’s Xolair or remibrutinib, or another oral immunology competitor sets an efficacy/safety bar Enanta cannot match.
- RSV or immunology programs require larger, longer, or repeated trials before producing partnerable proof-of-concept data.
ENTA news
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Financial statements
ENTA income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
ENTA: quick answers
- Have members of Congress traded ENTA?
- 3 trades in ENTA have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed ENTA trade