Replies to post #199188 on Biotech Values

[DewDiligence]

ENTA—I would guess the short thesis is MRK approval?

The question is whether the ENTA short thesis is MRK’s FDA approval per se... or whether the short thesis is MRK’s FDA approval with a label that’s similar to Harvoni and V-Pak.

The former doesn’t make much sense, IMO, so presumably the ENTA shorts are (were) betting on MRK’s getting FDA approval with a broad and hassle-free label. If that’s the case, a MRK label that requires, say, RAV testing for GT1a patients ought to be quite a jolt.