ENTA—the [calendar 3Q17] royalty should be closer to 11.3 than 10.9 (which is not really that much different) if Mav was really $100MM.
ABBV said 3Q17 Mavyret sales were "almost" $100M, so the actual number could be as much as $5-10M lower. In any case, it's a helluva strong product launch to generate that level of sales in less than 2/3 of a quarter.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”