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DewDiligence

06/18/21 5:36 PM

#238443 RE: 57_2001 #238441

ENTA’s enterprise value (@$45.74) is about $675M, based on 24.1M fully-diluted shares (#msg-163910230) and pro forma cash of $426M (#msg-163910195).

If you deduct a reasonable figure for the present value of the Mavyret royalty stream, the resulting adjusted EV is pretty close to zero. I doubt that you can find a more undervalued biotech on the market.