ENTA—On yesterday’s CC Jay Luly was asked if ENTA would consider monetizing the Mavyret royalty stream. He replied that now would not be a good time to do such a deal insofar as Mavyret sales can be expected to rise as the COVID pandemic fades and new-patient starts return to pre-pandemic levels.
I’m not sure I agree with Luly. Why not let a third party gamble on when—and whether—Mavyret sales will rebound to pre-pandemic levels?
Moreover, the royalty stream will be worth less if real (adjusted for inflation) interest rates rise.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.