ENTA’s fully-diluted* share count for valuation purposes is 21.4M. This figure consists of: 19.1M basic shares on the 6/30/17 balance sheet (https://www.sec.gov/Archives/edgar/data/1177648/000156459017016945/enta-10q_20170630.htm#CONSOLIDATED_BALANCE_SHEETS ); and 2.3M options (ibid, page 12). *Non-treasury method.