…I don't think there is anything in the advanced Enanta pipeline that is worthy of an acquisition…
Respectfully disagree on this point.
Moreover, at the current valuation ENTA could receive buyout interest from a company who had little or no interest in ENTA’s pipeline and merely wanted to raise capital cheaply.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”