Biotechnology company Enanta Pharmaceuticals Inc (NASDAQ:ENTA) announced on Monday its net income of USD72.0m (USD3.48 per diluted common share) for its fiscal year ended 30 September 2018.
This marks a growth when compared with net income of USD17.7m (USD0.91 per diluted common share) for the same period in 2017.
Total revenue of USD206.6m was generated for the 12 months ended 30 September 2018, up over USD102.8m for the same period in 2017.
Research and development expenses of USD94.9m was recorded for the 12 months ended 30 September 2018, a rise from R&D of USD57.5m for the same period in 2017.
The company said the increase in research and development expenses in both periods was primarily due to increased preclinical and clinical costs associated with the progression of its wholly-owned R&D programmes in non-alcoholic steatohepatitis (NASH), primary biliary cholangitis (PBC), and respiratory syncytial virus (RSV), as well as research efforts in hepatitis B virus (HBV).
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