With no change in fundamentals, a $600M EV would still be a bargain. Investors are undervaluing both the G/P royalty stream and the (wholly-owned) NASH program, IMO.
Bear in mind that ENTA is cash-flow positive (although just barely) while we wait for G/P approval.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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