Biotech Values

[DewDiligence]

Re: ENTA’s milestone payments on ABT-493/ABT-530 program

There are two cases depending on whether ENTA opts in for a 50% profit split with ABBV in the US market (#msg-97265103):

• If ENTA does not opt in for US profit sharing, ENTA will receive a $40M milestone from ABBV for FDA approval, $40M in additional milestones for ex-US approvals, and double-digit royalties on worldwide sales of the ABT-493 portion of the 2-DAA regimen.

• IF ENTA does opt in for US profit sharing, ENTA will receive $40M in milestones for ex-US approvals and double-digit royalties on ex-US sales of the ABT-493 portion of the 2-DAA regimen. In the US, ENTA will share equally with ABBV on development/commercialization expenses and net profits for the full 2-DAA regimen.

Source: Wells Fargo webcast on 6/17/14.