Enanta Pharmaceuticals Inc (ENTA)

[oc631]

If a sponsor is required to run a Phase-3 non-inferiority study they would have to pay retail price for the active comparator used in the control arm. The broader the subgroups and study size, the higher the out-of-pocket costs. Only to face one of two extraordinary existing combinations (GILD or ABBV). The odds of success are slim and costly. If the sponsor does produce a competitive combination there's a high likelihood their IP will be challenged by the large incumbents holding legacy assets (GILD).