Enanta Pharmaceuticals Inc., a developer of potential treatments for hepatitis C virus (HCV), has raised $56 million in an initial public offering (IPO) of 4 million shares, The Associated Press reports.

The drug developer priced its stock at $14 per share, which trades under the ticker symbol ENTA on the Nasdaq stock market. Analysts said the stock price was at the low end of expectations.

Enanta is working on potential HCV drugs but has no products on the market yet. ABT-450, which is its most advanced hep C treatment and is made in collaboration with AbbVie, started late-stage testing last October. However, the company told the Securities and Exchange Commission it would be at least two years before it submits the drug for approval.

The Massachusetts-based company is hoping to incorporate ABT-450 into treatment regimens that don’t require interferon, a drug for liver disease patients that can cause serious side effects such as flu-like symptoms that last for months. Enanta plans to use proceeds from the offering to help with drug research and development and to use as working capital.

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