{"id":61714,"date":"2025-08-11T22:05:53","date_gmt":"2025-08-11T20:05:53","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/enanta-pharmaceuticals-reports-financial-results-for-its-fiscal-third-quarter-ended-june-30-2025\/"},"modified":"2025-08-11T22:05:53","modified_gmt":"2025-08-11T20:05:53","slug":"enanta-pharmaceuticals-reports-financial-results-for-its-fiscal-third-quarter-ended-june-30-2025","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/enanta-pharmaceuticals-reports-financial-results-for-its-fiscal-third-quarter-ended-june-30-2025\/","title":{"rendered":"Enanta Pharmaceuticals Reports Financial Results for its Fiscal Third Quarter Ended June 30, 2025"},"content":{"rendered":"<div>\n<ul class=\"bwlistdisc\">\n<li>\n<i>On Track to Report Topline Data for RSVHR, a Phase 2 Study of Zelicapavir in High-Risk Adults Infected with Respiratory Syncytial Virus (RSV), in September<\/i><\/li>\n<li>\n<i>On Track to Select a STAT6 Development Candidate in 2H 2025<\/i><\/li>\n<li>\n<i>Conducting IND Enabling Studies of EPS-1421, an Oral KIT Inhibitor Candidate, in Development for the Treatment of Chronic Spontaneous Urticaria and Other Mast Cell Driven Diseases<\/i><\/li>\n<li>\n<i>Operations Supported by Cash and Marketable Securities Totaling $204.1 Million at June 30, 2025, as well as Continuing Retained Royalties<\/i><\/li>\n<\/ul>\n<p>WATERTOWN, Mass.&#8211;(BUSINESS WIRE)&#8211;<a href=\"https:\/\/twitter.com\/hashtag\/KIT?src=hash\" target=\"_blank\">#KIT<\/a>&#8212;<a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.enanta.com%2F&amp;esheet=54305491&amp;newsitemid=20250811000956&amp;lan=en-US&amp;anchor=Enanta+Pharmaceuticals%2C+Inc.&amp;index=1&amp;md5=99777d08608d390f4a5d32eef6f1c2a3\" rel=\"nofollow\" shape=\"rect\">Enanta Pharmaceuticals, Inc.<\/a> (NASDAQ:ENTA), a clinical-stage biotechnology company dedicated to creating small molecule drugs for viral infections and immunological diseases, today reported financial results for its fiscal third quarter ended June 30, 2025.<\/p>\n<p><a href=\"https:\/\/mms.businesswire.com\/media\/20250811000956\/en\/1475183\/5\/Enanta_RGB.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250811000956\/en\/1475183\/22\/Enanta_RGB.jpg\"><\/a><br \/><a href=\"https:\/\/mms.businesswire.com\/media\/20250811000956\/en\/1475183\/5\/Enanta_RGB.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250811000956\/en\/1475183\/21\/Enanta_RGB.jpg\"><\/a><\/p>\n<p>\n\u201cThis past quarter we continued to make steady progress across our pipeline, marked by the completion of enrollment in the RSVHR trial, a proof-of-concept study of zelicapavir in high-risk adults infected with RSV. These patients face a heightened risk of serious illness from RSV, but currently there are no approved antiviral treatments available. We look forward to reporting topline data for the RSVHR trial in September,\u201d said Jay. R. Luly, Ph.D., President and Chief Executive Officer at Enanta Pharmaceuticals. \u201cWe have continued to execute on advancing multiple immunology programs including high-impact targets, KIT and STAT6. We are progressing IND-enabling studies for our oral KIT inhibitor, EPS-1421, and expect to select a lead development candidate for our oral STAT6 inhibitor program in the second half of this year. We plan to build on our emerging pipeline of highly selective and potent oral inhibitors for the treatment of inflammatory diseases with the announcement of a third program later this year.\u201d<\/p>\n<p>\n<b>Fiscal Third Quarter Ended June 30, 2025 Financial Results<\/b><\/p>\n<p>\nTotal revenue for the three months ended June 30, 2025 was $18.3 million and consisted of royalty revenue from worldwide net sales of AbbVie\u2019s hepatitis C virus (HCV) regimen MAVYRET\u00ae\/MAVIRET\u00ae (glecaprevir\/pibrentasvir), compared to $18.0 million for the three months ended June 30, 2024.<\/p>\n<p>\nA portion (54.5%) of Enanta\u2019s ongoing royalty revenue from AbbVie\u2019s net sales of MAVYRET\u00ae\/MAVIRET\u00ae is paid to OMERS, one of Canada\u2019s largest defined benefit pension plans, pursuant to a royalty sale transaction affecting royalties earned after June 2023. For financial reporting purposes, the transaction was treated as debt, with the upfront purchase payment of $200.0 million recorded as a liability. Each quarter, Enanta records 100% of the royalty earned as revenue and then amortizes the debt liability proportionally as 54.5% of the cash royalty payments are paid to OMERS through June 30, 2032 subject to a cap of 1.42 times the purchase payment, after which point 100% of the cash royalty payments will be retained by Enanta. Interest expense from the royalty sale for the three months ended June 30, 2025 was $1.6 million, compared to $2.4 million for the three months ended June 30, 2024.<\/p>\n<p>\nResearch and development expenses totaled $27.2 million for the three months ended June 30, 2025, compared to $28.7 million for the three months ended June 30, 2024. The decrease was primarily due to a decrease in expenses as a result of the timing of clinical trials in the Company\u2019s RSV programs.<\/p>\n<p>\nGeneral and administrative expenses totaled $10.0 million for the three months ended June 30, 2025, compared to $13.4 million for the three months ended June 30, 2024. The decrease was primarily due to a decrease in legal expenses related to the Company\u2019s patent infringement lawsuit against Pfizer.<\/p>\n<p>\nInterest and investment income, net, totaled $2.3 million for the three months ended June 30, 2025, compared to $3.5 million for the three months ended June 30, 2024. The decrease was due to lower cash and investment balances year-over-year.<\/p>\n<p>\nEnanta recorded income tax expense of less than $0.1 million for the three months ended June 30, 2025, compared to an income tax benefit of $0.4 million for the three months ended June 30, 2024. The Company received its federal income tax refund of $33.8 million in April 2025.<\/p>\n<p>\nNet loss for the three months ended June 30, 2025 was $18.3 million, or a loss of $0.85 per diluted common share, compared to a net loss of $22.7 million, or a loss of $1.07 per diluted common share, for the corresponding period in 2024.<\/p>\n<p>\nEnanta\u2019s cash, cash equivalents and short-term marketable securities totaled $204.1 million at June 30, 2025. Enanta expects that its current cash, cash equivalents and marketable securities and its continuing portion of cash from future royalty revenue, should be sufficient to meet the anticipated cash requirements of its existing business and development programs into fiscal year 2028.<\/p>\n<p>\n<b>Virology<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nEnanta\u2019s virology pipeline is focused on developing oral antiviral treatments for serious infections, including the leading RSV therapeutic portfolio, consisting of zelicapavir and EDP-323, both of which received Fast Track designation from the U.S. Food and Drug Administration (FDA). The Company will evaluate potential partnership opportunities to further develop these RSV assets.<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nZelicapavir, a potent, oral N-protein inhibitor, is currently being evaluated in RSVHR, a Phase 2b, randomized, double-blind, placebo-controlled study in adults with RSV infection who are at high risk of complications. This includes patients over age 65 years and\/or those with congestive heart failure, chronic obstructive pulmonary disease or asthma. Enrollment in RSVHR is complete with 186 patients and the Company is on track to report topline data in September.<\/p>\n<ul class=\"bwlistsquare\">\n<li>\nIn May, the Company presented data at the European Society for Paediatric Infectious Diseases (ESPID) 2025 Conference highlighting its previously reported positive results from the Phase 2 study of zelicapavir in pediatric patients, including new data on population PK\/PD and shortened time to viral load negativity. The presentation can be found on the Company\u2019s website.<\/li>\n<\/ul>\n<\/li>\n<li>\nEDP-323 is a potent, oral RSV L-protein inhibitor, which can be used alone or in combination with other agents, such as zelicapavir, to potentially broaden the treatment window or addressable patient populations.<\/p>\n<ul class=\"bwlistsquare\">\n<li>\nIn April, in an oral presentation at the European Society of Clinical Microbiology &amp; Infectious Diseases Global 2025 Conference (ESCMID), Enanta presented results from its previously disclosed Phase 2a human challenge study of EDP-323 and highlighted new data on reduced respiratory mucus production. The presentation can be found on the Company\u2019s website.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n<b>Immunology<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nEnanta\u2019s immunology pipeline is focused on designing and developing highly potent and selective oral inhibitors for the treatment of inflammatory diseases, by targeting key drivers of the type 2 immune response.<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nIND enabling studies and scale-up activities are ongoing for EPS-1421, a novel, potent, and selective oral inhibitor of KIT. EPS-1421 is being developed to treat chronic spontaneous urticaria and other mast cell driven indications by depleting mast cells through KIT inhibition, thereby addressing a primary driver of these diseases. EPS-1421 inhibits KIT with nanomolar potency in both binding and cellular assays, has sub-nanomolar activity <i>in vivo<\/i>, is highly selective for KIT versus other kinases, and has demonstrated good <i>in vitro <\/i>and <i>in vivo <\/i>ADME properties preclinically.<\/li>\n<li>\nEnanta remains on track to select a STAT6 inhibitor development candidate in the second half of 2025. Preclinical data show Enanta\u2019s prototype oral STAT6 inhibitors exhibit potent nanomolar activity and are highly selective for STAT6. Importantly, the prototype oral inhibitors resulted in rapid and complete inhibition of IL-4 induced phosphorylated STAT6 after a single oral dose in a mouse, demonstrating <i>in vivo<\/i> target engagement. Further, the prototypes reduced STAT6 activation and suppressed a type 2 inflammatory profile in an acute OVA asthma model. Finally, the prototypes display favorable <i>in vitro<\/i> and <i>in vivo<\/i> ADME properties with once-daily dosing potential.<\/li>\n<li>\nEnanta plans to expand its immunology pipeline with the introduction of a third program in 2025.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n<b>Corporate<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nEnanta\u2019s Partner AbbVie received FDA approval of an expanded indication for MAVYRET\u00ae (glecaprevir\/pibrentasvir) as the first and only treatment for people with acute HCV.<\/li>\n<li>\nEnanta plans to issue its fiscal fourth quarter and year-end financial results press release on November 17, 2025.<\/li>\n<\/ul>\n<p>\n<b>About Enanta Pharmaceuticals, Inc.<\/b><\/p>\n<p>\nEnanta is using its robust, chemistry-driven approach and drug discovery capabilities to become a leader in the discovery and development of small molecule drugs with an emphasis on indications in virology and immunology. Enanta\u2019s clinical programs are currently focused on respiratory syncytial virus (RSV) and its earlier-stage immunology pipeline aims to develop treatments for inflammatory diseases by targeting key drivers of the type 2 immune response, including KIT and STAT6 inhibition.<\/p>\n<p>\nGlecaprevir, a protease inhibitor discovered by Enanta, is part of one of the leading treatment regimens for curing hepatitis C virus (HCV) infection and is sold by AbbVie in numerous countries under the tradenames MAVYRET\u00ae (U.S.) and MAVIRET\u00ae (ex-U.S.) (glecaprevir\/pibrentasvir). A portion of Enanta\u2019s royalties from HCV products developed under its collaboration with AbbVie contribute ongoing funding to Enanta\u2019s operations. Please visit <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.enanta.com&amp;esheet=54305491&amp;newsitemid=20250811000956&amp;lan=en-US&amp;anchor=www.enanta.com&amp;index=2&amp;md5=2d2ebfcf95b989d67dc46a3a19beb516\" rel=\"nofollow\" shape=\"rect\">www.enanta.com<\/a> for more information.<\/p>\n<p>\n<b>Forward Looking Statements<\/b><\/p>\n<p>\nThis press release contains forward-looking statements, including statements with respect to the timeline and prospects for advancement of Enanta\u2019s clinical programs in RSV and its preclinical immunology programs, including its programs targeting KIT and STAT6 inhibition. Statements that are not historical facts are based on management\u2019s current expectations, estimates, forecasts and projections about Enanta\u2019s business and the industry in which it operates and management\u2019s beliefs and assumptions. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors and risks that may affect actual results include: the impact of development, regulatory and marketing efforts of others with respect to vaccines and competitive treatments for RSV; the discovery and development risks of Enanta\u2019s programs in virology and immunology; Enanta\u2019s lack of clinical development experience; Enanta\u2019s ability to partner its RSV or other programs; Enanta\u2019s need to attract and retain senior management and key research and development personnel; Enanta\u2019s need to obtain and maintain patent protection for its product candidates and avoid potential infringement of the intellectual property rights of others; and other risk factors described or referred to in \u201cRisk Factors\u201d in Enanta\u2019s Form 10-K for the fiscal year-ended September 30, 2024, and any other periodic reports filed more recently with the Securities and Exchange Commission. Enanta cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Enanta undertakes no obligation to update or revise these statements, except as may be required by law.<\/p>\n<p class=\"bwalignc\">\n<b><i>Tables to Follow<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"18\" rowspan=\"1\"><b>ENANTA PHARMACEUTICALS, INC.<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"18\" rowspan=\"1\"><b>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"18\" rowspan=\"1\"><b>UNAUDITED<br \/>(in thousands, except per share amounts)<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>Three Months Ended<\/b><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>Nine Months Ended<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>June 30,<\/b><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>June 30,<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\"><i>\u00a0<\/i><b>\u00a0\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>\u00a0<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwalignc bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>\u00a0<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\"><b>\u00a0\u00a0\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Revenue<b>\u00a0<\/b><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n18,314<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sub>\u00a0<\/sub><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n17,971<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n50,199<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sub>\u00a0<\/sub><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n53,028<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Operating expenses<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth43 bwpadl9\" colspan=\"1\" rowspan=\"1\">Research and development<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n27,210<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n28,742<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n82,931<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n100,698<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth43 bwpadl9\" colspan=\"1\" rowspan=\"1\">General and administrative<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n9,997<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n13,414<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n34,231<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n44,167<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth43 bwpadl18\" colspan=\"1\" rowspan=\"1\">Total operating expenses<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n37,207<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n42,156<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n117,162<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n144,865<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Loss from operations<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(18,893<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(24,185<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(66,963<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(91,837<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Interest expense<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(1,618<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(2,355<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(5,294<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(8,359<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Interest and investment income, net<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n2,285<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n3,487<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n7,376<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n11,594<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Loss before income taxes<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(18,226<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(23,053<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(64,881<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(88,602<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Income tax (expense) benefit<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(29<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n395<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n1,692<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n1,380<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Net loss<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(18,255<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(22,658<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(63,189<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(87,222<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Net loss per share<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth43 bwpadl9\" colspan=\"1\" rowspan=\"1\">Basic<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(0.85<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(1.07<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(2.96<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(4.12<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth43 bwpadl9\" colspan=\"1\" rowspan=\"1\">Diluted<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(0.85<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(1.07<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(2.96<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(4.12<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth43\" colspan=\"1\" rowspan=\"1\">Weighted average common shares outstanding<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth43 bwpadl9\" colspan=\"1\" rowspan=\"1\">Basic<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n21,377<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n21,180<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n21,322<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n21,145<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth43 bwpadl9\" colspan=\"1\" rowspan=\"1\">Diluted<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n21,377<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n21,180<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n21,322<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n21,145<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>ENANTA PHARMACEUTICALS, INC.<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>UNAUDITED<br \/>(in thousands)<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\"><b>June 30,<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\"><b>September 30,<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\"><i><b>\u00a0<\/b><\/i><b>\u00a0\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2024<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Assets<b>\u00a0\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Current assets<b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><b>\u00a0<\/b><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Cash and cash equivalents<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sub>\u00a0<\/sub><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n44,812<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n37,233<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Short-term marketable securities<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n159,299<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n210,953<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Accounts receivable<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n8,333<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n6,646<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Prepaid expenses and other current assets<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n10,240<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n12,413<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Income tax receivable<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n24<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n31,999<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Short-term restricted cash<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n608<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl18\" colspan=\"1\" rowspan=\"1\">Total current assets<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n222,708<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n299,852<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Property and equipment, net<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n36,617<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n32,688<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Operating lease, right-of-use assets<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n38,250<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n40,658<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Long-term restricted cash<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n3,360<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n3,360<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Other long-term assets<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n94<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n94<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl18\" colspan=\"1\" rowspan=\"1\">Total assets<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n301,029<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n376,652<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Liabilities and Stockholders&#8217; Equity<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Current liabilities<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Accounts payable<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0$<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n3,547<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n8,002<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Accrued expenses and other current liabilities<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n10,853<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n13,547<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Liability related to the sale of future royalties<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n27,755<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n34,462<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl9\" colspan=\"1\" rowspan=\"1\">Operating lease liabilities<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n2,394<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n1,524<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl18\" colspan=\"1\" rowspan=\"1\">Total current liabilities<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n44,549<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n57,535<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Liability related to the sale of future royalties, net of current portion<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n119,943<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n134,779<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Operating lease liabilities, net of current portion<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n55,656<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n53,943<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Series 1 nonconvertible preferred stock<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n1,350<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwpadr0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n1,350<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Other long-term liabilities<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n252<\/p>\n<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n231<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl18\" colspan=\"1\" rowspan=\"1\">Total liabilities<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n221,750<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n247,838<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth64\" colspan=\"1\" rowspan=\"1\">Total stockholders&#8217; equity<\/td>\n<td class=\"bwalignl bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><sup>\u00a0<\/sup><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n79,279<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n128,814<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth64 bwpadl18\" colspan=\"1\" rowspan=\"1\">Total liabilities and stockholders&#8217; equity<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n301,029<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwalignr bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n376,652<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n\u00a0<\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\n<b>Media and Investors Contact:<\/b><br \/>Jennifer Viera<br \/>\n<br \/><a target=\"_blank\" href=\"&#x6d;&#x61;&#105;&#108;t&#x6f;&#x3a;&#x6a;&#118;ie&#x72;&#x61;&#64;&#101;n&#x61;&#x6e;&#x74;&#97;&#46;c&#x6f;&#x6d;\" rel=\"nofollow\" shape=\"rect\">jviera&#64;enanta&#46;com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On Track to Report Topline Data for RSVHR, a Phase 2 Study of Zelicapavir in High-Risk Adults Infected with Respiratory Syncytial Virus (RSV), in September On Track to Select a STAT6 Development Candidate in 2H 2025 Conducting IND Enabling Studies of EPS-1421, an Oral KIT Inhibitor Candidate, in Development for the Treatment of Chronic Spontaneous &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/enanta-pharmaceuticals-reports-financial-results-for-its-fiscal-third-quarter-ended-june-30-2025\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-61714","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Enanta Pharmaceuticals Reports Financial Results for its Fiscal Third Quarter Ended June 30, 2025 - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/enanta-pharmaceuticals-reports-financial-results-for-its-fiscal-third-quarter-ended-june-30-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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