Enanta Pharmaceuticals IncEnanta's partner AbbVie received EU approval for Maviret, which contains Enanta's discovered component, boosting royalty prospects.
Enanta Pharmaceuticals shares rallied 5.2% to close at $14.06 after partner AbbVie received European Commission approval for Maviret to treat acute hepatitis C virus infection in adults and children aged three years and above. Glecaprevir, one of the two direct-acting antiviral components of Maviret, was discovered by Enanta and is developed and commercialized by AbbVie, from which Enanta receives royalties on net sales. The move came on notable volume and compares to a 4.2% loss over the past four weeks. Enanta is expected to report a quarterly loss of $0.37 per share on revenues of $18.17 million.
Enanta Pharmaceuticals IncEnanta's partner AbbVie received EU approval for Maviret, which contains Enanta's discovered component, boosting royalty prospects.
AbbVie IncAbbVie's Maviret received European Commission approval, expanding market access.
Abcellera Biologics Inc