Surprisingly, ENTA is flattish in early trading. In my ENTA valuation model in #msg-94993406, I had ascribed $100M (~$5/sh) of value to the NVS partnership for EDP-239; hence, if we were to assume that nothing else has changed since the model was posted in Dec 2013, $5/sh should be deducted from my bottom-line figure of $81/sh.
Of course, various things have changed since Dec 2013 apart from the EDP-239 news, so a full-fledged update to the valuation model is in order. However, I’ll probably hold off on updating the model until we know the FDA label and US pricing for GILD's Harvoni.
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