Enanta Pharmaceuticals Inc (ENTA)

[Rocky3]

One of the things from your summary of the quarter that is missing is the annual decrease in shareholder equity - down to $216,735K from $321,334K last year. With the decreased expenses projected next year, the reduction should be less, but if the loss from operations is still $80M, instead of $133M, net worth might be ~$135M after 09/24.

I still think net worth is much more important than cash to analyze financial health. The "debt" has to be paid back. It will be paid (out of the future cash flow), just like any kind of other borrowing.

I took yesterday's rally as an opportunity to sell 1/2 my position (obviously should have sold all). Other people's tax selling may hold down the price for the next 5-6 weeks.