George Rho
Research analyst, long/short equity, special situations, arbitrage

Little-Known Enanta Has A Lot Going For It

The subject of this recommendation had $102.0 million in cash and marketable securities as of March 31, 2014. The company will receive two milestone payments of $20 million each this quarter. Moreover, it will most likely get another $150 million or so by next spring, which would lift the cash balance to almost $300 million. That's not all, the development-stage biotechnology concern is in line to receive a royalty stream deriving from a new-drug prospect that by most accounts will be a blockbuster; a recently launched rival product generated an astounding $2.3 billion of sales in its first full quarter on the market. And if that weren't enough, the company has two other collaborations that augur well for the long...

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