Enanta Pharmaceuticals Inc (ENTA)

[dewophile]

This 200M is a special kind of debt bc of the virtually guaranteed coverage from the royalty stream. If the fund who “loaned “ the 200M doesn’t want to assume the “debt” of enta goes belly up any number of suitors would take on the debt for the royalty in whole or at 90 cents on the dollar in a heartbeat.
So in this case the lowering f shareholder value because of this accounting maneuver is not as relevant as it normally would be IMO
Good for you in timing your sale. Happy thxgiving