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DewDiligence

11/21/16 8:31 PM

#206263 RE: DewDiligence #206260

ENTA is the only long position of famed shortseller, Marc Cohodes:

DewDiligence

11/22/16 8:50 AM

#206270 RE: DewDiligence #206260

ENTA appoints former TEVA executive to BoD:

http://ir.enanta.com/phoenix.zhtml?c=147990&p=irol-newsArticle&ID=2225194

Dr. Russell currently serves as Chief Medical Officer at Innocoll Holdings, Plsc., a global, specialty pharmaceutical company, where she leads the clinical development programs, and medical and regulatory affairs groups. Prior, she held executive management positions at TetraLogic Pharmaceuticals, where she held the role of Chief Operating Officer from 2013 through 2016, and at Teva Pharmaceuticals, where she was Senior Vice president and Global Head of Research and Development from 2011-2012. At Teva, she led a team of over 1,500 and was responsible for all aspects of global drug development. Earlier in her career, she spent over 10 years at Cephalon, Inc. where she held positions of increasing responsibility from 2000 -2011, most recently serving as Executive Vice President and Chief Medical Officer.

Dr. Russell currently serves on the Boards of Directors of AMAG Pharmaceuticals, Inc. and Endocyte Pharmaceuticals, Inc., public biotechnology companies, and Melmark, Inc., a non-profit organization serving adults and children with severe intellectual and physical disabilities.

ChikiTiny

11/22/16 1:33 PM

#206287 RE: DewDiligence #206260

"Applying a multiplier to the projected 2020 EPS is where the arguments are certain to become heated, so I won't even go there. "


Dew, can you elaborate on this a bit?

guyschmid

11/23/16 11:32 AM

#206321 RE: DewDiligence #206260

Not too sure on the $4b. As the royalties are on net sales.
Any change to your numbers on basis of "net sales"?
Thanks - long may she rise ....

DewDiligence

12/19/16 8:59 AM

#207091 RE: DewDiligence #206260

ABBV/ENTA submit NDA for Glecaprevir/Pibrentasvir pan-genotypic HCV regimen:

http://finance.yahoo.com/news/enanta-pharmaceuticals-announces-abbvie-submission-130600551.html

Consistent with prior guidance, an MAA will be submitted to the EMA in 1Q17.

ENTA will receive a cumulative $80M in milestone payments from ABBV for G/P approval in the US, EU, and Japan.

ENTA will receive tiered royalties on worldwide sales of G/P—see #msg-126723412.

Please see #msg-122031014, #msg-126481635, and #msg-127098862 for related info.

biocqr

04/26/18 12:00 PM

#218733 RE: DewDiligence #206260

I expect annual worldwide sales of G/P to peak at $4B in 2020. ENTA's annual royalty on G/P sales is tiered from 5% to 10%, where each tier is defined by undisclosed sales thresholds, so let's say ENTA gets an average 7% royalty rate in 2020. 7% of $4B = $280M. Say operating expenses and taxes consume $80M, leaving $200M of net profit.



Dew...I'm confused on ENTA's royalty rate for G/P.

Slide 8 from this JP Morgan presentation shows "double-digit royalties on 50% of net sales" which contradicts your statement above.

Can you clarify the royalty rate/tiers for Mavyret?

Also, do you still stand by $4B peak sales in 2020?

TIA.