The company’s current market cap is less than the sum of: 1) cash on hand; and 2) the lump-sum amount that ENTA’s Mavyret royalty stream could garner in a sale to a third party.
In other words, investors are currently ascribing negative value to ENTA’s RSV, HBV, and NASH pipeline!
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”