Enanta Pharmaceuticals Inc (ENTA)

[Rocky3]

From Fall 2023:

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.

Actual number as of 9/24 for shareholder equity was $128,814K. Again, expenses should be lower in next 12 months since at least lawyer fees should be reduced since appeal should cost less than preparing for trial. But by 9/25 shareholder equity will probably be around $50M. With "debt" being non recourse, probably won't have "going concern" issue for a few more quarters after 9/25. But pressure to partner/sell/refinance will mount each and every quarter. And whatever bargaining power they have may disappear.

With tax loss selling season over, let's see if we get a stock price bounce in next couple weeks. If not, no real reason to think a turn around will happen until the partner/sell/refinance occurs. I am not willing to take that risk now. Those who think that the only possible direction is up were often saying the same thing in late 2023 when the price was significantly higher than now.