Enanta Pharmaceuticals

The company's business model is centered on a combination of in-house drug development and strategic collaborations with larger pharmaceutical companies. A cornerstone of Enanta's financial stability is its successful, long-standing collaboration with AbbVie. Through this partnership, Enanta discovered two protease inhibitors, glecaprevir and paritaprevir. Glecaprevir is a key component of MAVYRET® (MAVIRET® outside the U.S.), one of the leading curative regimens for chronic hepatitis C virus (HCV) infection, marketed by AbbVie. This collaboration provides Enanta with a steady stream of royalty revenue, which is used to fund its ongoing research and development operations. For the fiscal third quarter ending June 30, 2025, the company reported $18.3 million in revenue, consisting of these royalties. As of June 30, 2025, Enanta held $204.1 million in cash and marketable securities, which is expected to fund operations into fiscal year 2028.

Jay R. Luly, Ph.D., has served as President and CEO since July 2003, guiding the company from its venture-backed origins through a successful Initial Public Offering (IPO) on the NASDAQ (ENTA) on March 21, 2013. The IPO raised $56 million. Dr. Luly's background includes a Ph.D. in synthetic organic chemistry and extensive experience in senior drug discovery roles at Abbott Laboratories and LeukoSite, which merged with Millennium Pharmaceuticals. His journey led him to the venture capital firm Oxford Bioscience Partners as an entrepreneur in residence, through which he connected with Enanta, taking the helm at a critical turnaround point for the company.

Enanta's current R&D pipeline is focused on significant unmet needs in virology and immunology. The company's lead programs target respiratory syncytial virus (RSV) with candidates like zelicapavir (EDP-938), an N-protein inhibitor in Phase 2 trials, and EDP-323, an L-protein inhibitor. The company is also advancing its immunology pipeline, which includes a KIT inhibitor for chronic spontaneous urticaria and other mast cell-driven diseases, and a STAT6 inhibitor program targeting atopic dermatitis. Historically, Enanta has also developed clinical candidates for hepatitis B virus (HBV) and SARS-CoV-2.