Enanta Pharmaceuticals Inc (ENTA)

[DewDiligence]

Re: Data for cirrhotic patients

Please correct me if I am wrong but I believe your model does not particularly ascribe this differentiation for valuation purposes.

Correct; in the ENTA valuation model in #msg-94993406, I didn’t explicitly account for the cirrhotic subgroup, but rather assumed that GILD’s and ABBV/ENTA’s data for cirrhotic patients would be roughly comparable. Hence, if GILD’s cirrhotic data released this week at EASL are notably worse than the data from ABBV/ENTA’s TURQUOISE-2 study (#msg-96696670), this could provide a lift for ENTA.

The corolloary is also true, although it’s difficult to imagine that GILD’s cirrhotic data could be notably better then the data in TURQUOISE-2.