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Biotech / Medical : biotech firesales

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To: rkrw who wrote (2278)	7/27/2010 2:33:58 PM
From: tuck	Read Replies (2) of 3661

Momenta (MNTA) off 15% now. Not sure if it's the lawsuit filed by Sanofi -- which failed to get a TRO, and doesn't stand a snowball's chance in hell of succeeding -- or if some remark made today by Teva management actually got investors believing there is a risk that Teva's version of generic enoxaprin would be approved soon. The latter is somewhat more plausible, but still unlikely. The filing of the immunogenicity data by Teva was long ago (according to Marth a month after Momenta's), so that isn't the likely reason Teva's application hasn't been approved. I think this is a legitimate buying opportunity here. I sold my options yesterday, and sold a little in my IRA, was well. I bought back the former at $22.30, and sold puts on my trading account earlier this morning (PDT). So putting my money where my mouth is. Cheers, Tuck

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