Biotech Values

[DewDiligence]

ENTA—The directors resigning a day early brings added attention to the shake-up and overrides the threat of these directors not showing up at the annual meeting.

Are you saying that the two directors are resigning one day early in order to make a bigger stink about the whole affair?

A disagreement on whether the company will remain independent or be sold (suggested by ‘caravon’) makes sense to me at this pivotal time for ENTA. I personally was thinking along these lines.

How does a disagreement about selling the company wash with the statement in ENTA’s 8-K filing that the resignations are “not the result of any disagreement with Enanta on any matter relating to its operations, policies or practices” (http://www.sec.gov/Archives/edgar/data/1177648/000119312514008032/d658819d8k.htm )? Is your opinion that the 8-K statement fails to rule out a disagreement with respect to M&A because M&A is not explicitly mentioned?