Biotech Values

[DewDiligence]

Re: ENTA valuation

I cannot give you a specific number with a high degree of confidence; however, I can say that if ENTA’s all-oral HBV program bears fruit, the upside is colossal—see #msg-165620670. Note that ENTA is the only company pursuing an all-oral functional cure for HBV, as far as I know.

If ENTA does not succeed in HBV, you still have a promising COVID-antiviral program that was updated today (#msg-166419807, #msg-166412852); a long-tailed HCV royalty stream from ABBV, which should be evaluated as though it were a standalone business (#msg-138369686); and a rock-solid balance sheet (#msg-165355929).

Oh, I almost forgot: ENTA has a program in RSV therapeutics, which has been in limbo during the pandemic. COVID masking/social-distancing protocols snuffed out RSV transmission, making it hard for ENTA to enroll patients in its RSV trials. At some point, RSV will come back and the program will get moving again.