Enanta Pharma Reports First Annual Results As a Publicly Traded Company
Enanta Pharmaceuticals has done better than expected with its first set of annual results as a publicly traded entity, weighing in with both its fiscal Q4 and full-year 2013 figures. For the quarter, the biotech firm posted revenue of $1.35 million, down from the $1.86 million in the same period the previous year. Attributable net loss narrowed over that span of time to $4.44 million ($0.25 per diluted share), from Q4 2012's $5.38 million ($4.78).
For the full year, the top line came in at $32.05 million, against the prior year's $41.71 million. Meanwhile, attributable net loss was $6.57 million ($0.67 per diluted share) compared with a profit of $1.37 million ($1.13) in 2012.
In spite of the losses, Enanta sounded an optimistic note in its earnings release. It quoted CEO Jay Luly as pointing out that "we ended the year with three [Hepatitis C] compounds in the clinic and we have progressed our internal programs and pipeline candidates."
According to Bloomberg Businessweek, the three analysts tracking the firm had collectively been expecting a per-share loss of $0.31 for Q4, and $1.78 for the fiscal year.
The company's stock has been popular since making its debut on the market this past March. Its IPO priced at $14 per share; on Monday, the stock closed at $24.84.
The article Enanta Pharma Reports First Annual Results As a Publicly Traded Company originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Enanta Pharmaceuticals. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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