Biotech Values

[DewDiligence]

ABBV/ENTA—I expect SVR12 >=95% for SAPHIRE-1 and SVR12>=90% for SAPHIRE-2 in the immediate-treatment arms.

In each trial, I expect the immediate-treatment arm and the delayed-treatment (control) arm to have roughly the same SVR rate, although the delayed-treatment arms could have slightly lower SVR rates due to the possibility of non-drug-related discontinuation during the 12-week placebo period.