Enanta Pharma slides on upsized $65 mln stock offering

Enanta Pharmaceuticals

01/10/2025 11:43

** Shares of Enanta Pharmaceuticals ENTA.O down 11% premarket to $10.65 after $65 mln overnight follow-on priced

    ** Watertown, Massachusetts-based biotech firm late Tues announced 6.5 mln shares at $10, a 16.5% discount to their last close

    ** Offering size boosted from $50 mln

    ** JP Morgan, Jefferies and Evercore acting as joint bookrunners

** ENTA shares on Mon surged 92% to $15.16 after co said its RSV treatment significantly quickened recovery in mid-stage study; shares fell 21% on Tues

    ** Co intends to use net offering proceeds to fund clinical trials, R&D, among other purposes, per the prospectus

    ** 5 of 7 analysts rate the stock "strong buy" or "buy" and 2 rate "hold"; median PT is $20, according to LSEG data

( Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))