+ Watch ENTA
on My Watchlist
Royalty stream from abbvie likely significant. tiny company with 44 employees and low cash burn rate. Hep C drug looks like it works. They won't be first to market, but probably will have impact.
About to break resistance.
Enanta's collaboration with Abbvie on a next gen HepC treatment is clearly its main growth driver. That drug will face some serious competition from Gilead's Sovaldi, but with pretty comparable cure rates it will be up to payers to decide which drug to go with. Gilead's solid results today sent ENTA down 14% to a market cap of only 500M and change, making for a good entry point.
likely 5--10 bagger
Wow, how many hep C biopharmas can there be? Pharmasset, Inhibitex, and Anadys have already been bought out and Vertex, Achillion, and Idenix are still active players. To that number we can add Enanta, who went public in May and raised a modest 60M. Despite a respectable share price of 18.5, the market cap is only 330M. Compare that to Idenix at 650M and Achillion at 636M, despite those companies' recent misfortunes with clinical holds. Thus far, Enanta's drug candidates seem to be free of toxicity concerns and several phase III trials of HCV protease inhibitor ABT-450 combination therapies are in progress with topline data expected in the first half of 2014. Solid collaborations with AbbVie and Novartis would seem to position Enanta as a serious player in the race for hep C market share. Baker Bros has taken a small 125K share position, and the PropThink collaborative has published a detailed summary which aligns nicely with my own impressions. Enanta may be a chance for me to redeem myself for the vast opportunities I missed when the last generation of hep C stocks exploded in 2010 and 2011.
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