Enanta Pharmaceuticals Inc (ENTA)

[DewDiligence]

ENTA’s fully-diluted share count @10/2/25=35.2M. This figure consists of:

• 21.39M basic shares on the 9/30/25 balance sheet (https://www.sec.gov/ix?doc=/Archives/edgar/data/0001177648/000119312525288121/enta-20250930.htm#consolidated_balance_sheets );

• 6.35M options and unvested restricted-stock shares and equivalents (whether or not exercisable) (ibid, page F-13); and

• 7.48M shares issued in the public offering that closed on 10/2/25.

NOTE: My method of counting fully-diluted shares is intentionally a maximum-case scenario—i.e. intentionally conservative for calculating enterprise value. My count includes all options, regardless of how far out of the money they may be.