Replies to post #217220 on Biotech Values

[DewDiligence]

ENTA’s fully-diluted* share count at 12/31/17=21.9M. This figure consists of: 19.2M basic shares on the 12/31/17 balance sheet (https://www.sec.gov/Archives/edgar/data/1177648/000156459018001764/enta-10q_20171231.htm#CONSOLIDATED_BALANCE_SHEETS );and 2.7M options outstanding (whether or not exercisable) (ibid, page 13).

*Non-treasury method.

[jbog]

Some rainy day it would be interesting to see if Enta's contract with Abbvie will be a good agreement or not.

On one hand, their milestones have been fantastic and have built a great balance sheet. On the other hand, the way they booked the income, it has brought taxation into play and made the government a winner.

I think the stock action this week is partly to blame on the minuscule royalty payment for a drug that's on a current run rate of $2 Bil.

In my view it partly explains why Abbvie sold their holdings.

[DewDiligence]

ENTA’s pro forma cash at 3/31/18=$320.8M, an increase of $15.4M since 12/31/17 (#msg-138447448).

The $320.8M figure consists of: $288.6M of net current assets on the 3/31/18 balance sheet (https://www.sec.gov/Archives/edgar/data/1177648/000156459018012940/enta-10q_20180331.htm#CONSOLIDATED_BALANCE_SHEETS ); and $32.2M of marketable securities on the 3/31/18 balance sheet designated as non-current (US Treasury securities with a maturity of more than 1 year).