Biotech Values

[vinmantoo]

I recognize the accomplishment(s) that Enanta has had, and I think Enanta has at times overstated its wins and understated its losses. I was very much bothered many years ago when at least in my mind Enanta dropped a program without providing much information at all. Today it feels like Enanta may be utilizing a "let it linger" approach with regard to EDP 305 and 297.

I don't understand your comment. ENTA's HepC drugs were rousing successes, and they touted it as such. The problem, at least for ENTA and its investors, was they weren't in a strong cash position when they made deals with ABBV so got relatively poor terms. That isn't the case now as they have some $450 million in cash and still retained ~50% of the HepC royalties. ENTA decided to drop their NASH program because they felt their drugs weren't competitive enough in a relatively undefined disease that is hard to quantify without very invasive techniques. I am not sure what you mean by understating losses? Do you think any company touts failures or programs they pull?

Also there is information on the internet about a new building for Enanta operations, this has been intermittently discussed on this board, but I think this is actually a big deal as far as interrupting operations and probably financially as well. The talk with Jeffries this week was not uplifting. However, I did think I heard Jay say he has drug for the phase 3, please correct me if I am wrong, if that is true that there is right now sufficient drug to conduct the phase 3, then this is a big deal.

I have no idea of a new building and this is the first I have heard of it. If you are going to make such claims then you should provide a link so we can verify it. By the way, not everything you read on the internet is true. How would you react if I said there is information on the internet that ENTA has already attracted several very interested partners for EDP-235?

I listened the talk Jeffries today. It took place yesterday. It was very uplifting to me. Jay Luly did indeed say there is sufficient drug for phase 3 trials, which is reassuring. He also explained a big difference in the Shionogi trial and the EDP-235 trial. For the Shionogi trial the number of nucleocapsid positive patients (i.e. previously Covid infected) was in the single digits whereas it was some 70%-80% in the EDP-235 trial. The Jeffries interview was fair but tough and pointed. He made it clear that EDP-235 showed symptom relief and Luly reiterated that Paxlovid failed to do so even with a mostly nucleocapsid low population. They talked about IC90 and Luly pointed out the bar has been raised for new drugs as EDP-235 has reaches a much higher drug level with regards to IC90 than Paxlovid, and that explains symptom relief. Yes the Jeffries interviewer/host pressed about timelines not only for EDP-235 but for RSV drugs. There was some ballpark figures about the cost of 2 large phase 3 trials for Covid and it was $100-$200 million. Luly did point out the China was experiencing a major surge in Covid cases. Luly refused to get drawn in and make specific comments. Overall, I came away more confident about ENTA and about EDP-235.