but you do get a large cash cushion to fall back on and an ongoing royalty stream - so it's about a safe a small bio as there can be during a market/biotech downturn. I think ENTA should keep an eye open for a promising early stage candidate if this keeps up. I know that sounds crazy as they are a research shop, but if valuations plummet and they can get one on the cheap why not - they certainly have the cash for it
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