Public Offering
On September 30, 2025, Enanta Pharmaceuticals, Inc. (“Enanta”) entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, Jefferies LLC, and Evercore Group L.L.C., as representatives of the several underwriters named therein (collectively, the “Underwriters”), relating to the issuance and sale in a public offering of 6,500,000 shares of Enanta’s common stock, par value $0.01 per share (the “Common Stock”). The price to the public in the offering was $10.00 per share. In addition, Enanta granted the Underwriters an option, exercisable for 30 days, to purchase up to 975,000 additional shares of Common Stock at the public offering price, less the underwriting discounts and commissions.
The net proceeds to Enanta from the offering are expected to be approximately $60.6 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by Enanta and excluding any proceeds from the exercise of the underwriters’ option to purchase additional shares. The closing of the offering is expected to occur on October 2, 2025, subject to the satisfaction of customary closing conditions.
The Underwriting Agreement contains customary representations, warranties and agreements by Enanta, customary conditions to closing, indemnification obligations of Enanta and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement and may be subject to limitations agreed upon by such parties.
The offering is being made pursuant to a shelf registration statement on Form S-3 and accompanying prospectus (File No. 333-275723), filed with the Securities and Exchange Commission (the “SEC”), and a prospectus supplement thereunder. A copy of the Underwriting Agreement is filed as Exhibit 1.1 to this report, and the foregoing description of the terms of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to such exhibit. A copy of the opinion of Foley Hoag LLP relating to the legality of the issuance and sale of the shares of Common Stock in the offering is attached as Exhibit 5.1 hereto.
Forward Looking Statements
Certain statements contained in this report are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include, without limitation, statements about Enanta’s expectations with respect to the completion of the offering and the expected net proceeds from the offering. Actual events or results may differ materially from Enanta’s expectations. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, risks and uncertainties associated with market conditions, the satisfaction of customary closing conditions related to the offering, and the impact of macroeconomic and geopolitical events. Additional factors that could cause actual results to differ materially from those stated or implied by Enanta’s forward-looking statements are disclosed in Enanta’s filings with the SEC, including in the section captioned “Risk Factors” in Enanta’s most recent Annual Report on Form 10-K and subsequently filed Quarter Reports on Form 10-Q and the prospectus supplement relating to the offering. All forward-looking statements contained in this report speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Enanta undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
