HIGHOutside partyCounterparty
AbbVie
“10-K Item 1: 'Since August 2017, substantially all of our royalty revenue has been derived from AbbVie's net sales of MAVYRET/MAVIRET.'”
ENTA · Concentration risk · 10-K extracted
Enanta Pharmaceuticals (ENTA) concentration risks
Updated
The most significant concentration Enanta Pharmaceuticals discloses is AbbVie, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Enanta Pharmaceuticals’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH1
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Enanta Pharmaceuticals' concentration risk is narrow but high in share: since August 2017, substantially all of the company's royalty revenue has been derived from AbbVie's net sales of MAVYRET/MAVIRET. This is a counterparty dependency rather than a structural feature spread across the business — Enanta's revenue model runs almost entirely through one licensing partner's commercial performance on one franchise. With no other concentration exposures disclosed, there is nothing in the filing to diversify or offset this: a decline in AbbVie's MAVYRET/MAVIRET sales, whether from competition, pricing, or hepatitis C market dynamics, would flow essentially unmitigated into Enanta's royalty revenue. Disclosed at a high share, this is not a minor or hedged exposure, and the "substantially all" framing in the filing itself signals that this single relationship is close to the entirety of the current revenue base rather than merely the largest of several contributors. For an investor, this makes Enanta's near-term financial profile largely a derivative of AbbVie's commercial execution on a single drug franchise rather than a reflection of Enanta's own diversified operations.
For the engine’s reasoning on ENTA’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Biotechnology
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ABUS | Arbutus Biopharma Corporation | 1 | 1 | 0 | 2 |
| ABSI | Absci Corporation | 1 | 0 | 0 | 1 |
| ENTA● | Enanta Pharmaceuticals, Inc. | 1 | 0 | 0 | 1 |
| ABCL | AbCellera Biologics Inc. | 0 | 0 | 0 | 0 |
| ACHV | Achieve Life Sciences, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.