Enlivex's Strategic Advancements and Patent Protection Drive Buy Rating for Osteoarthritis TreatmentValuation and Risks. We value Enlivex using a discounted cash flow (DCF)-based methodology. This employs a 12% discount rate, 1% terminal growth rate and 25% effective tax rate. Conservatively, we currently only model Allocetra sales in sepsis and osteoarthritis, although the platform may have applicability in other indications as well. We derive a total firm value of $240M, or a price objective of $7 per share assuming 34.3M fully-diluted shares outstanding as of mid-2026.