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DewDiligence

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Re: jbog post# 199600

Tuesday, 02/09/2016 8:31:20 AM

Tuesday, February 09, 2016 8:31:20 AM

Post# of 257300
It’s a GAAP timing issue. Congress did not extend the R&D tax credit (and make it permanent and retroactive to 1/1/15) until Dec 2015, by which time ENTA had closed the books on FY2015 (which ended 9/30/15). So, for GAAP purposes, ENTA booked the actual cash-tax benefit of the 2015 R&D tax credit in FY2016.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
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