Enanta Pharmaceuticals Inc (ENTA)

[DewDiligence]

Any ideas why we fell off a cliff this week so far?

Two reasons that I’m aware of:

1. XBI, a proxy for small/midcap biotech companies, is down almost 10% this week through today’s close;

2. Yesterday, PFE reported the start of a clinical trial for an oral anti-COVID protease inhibitor, an area where ENTA has been working. It turns out that PFE’s “new” COVID drug is merely a reformulated SARS drug from 2003, but many investors (including me, initially) missed this nuance: (#msg-162747158).