Biotech Values

[DewDiligence]

Float is an imprecise metric because it’s somewhat arbitrary whether certain shares are considered closely held (and hence not counted in the float). However, ‘linhdtu’ is correct about the size of the ENTA IPO (4.6M shares including the underwriter’s option) and the amount of reported selling by insiders and 10%+ shareholders since the lockup expiration.

p.s. For valuation purposes, I model 19.7M fully-diluted shares (including about 1.8M in-the-money options).