Momenta Pharmaceuticals Inc. Message Board

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Biotech / Medical : Momenta Pharmaceuticals Inc.

MNTA 52.48

0.0%

Oct 2 5:00 PM EST

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From: tuck	12/7/2010 5:13:34 PM
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Momenta's announcement of an offering is hitting the stock a bit after hours. Justifiably so, IMO. It hints that there are no imminent partnerships. So they have to come to the table with more cash to derisk a deal enough to entice a partner. Or do something on their dime. Or it hints that they really think t-enox approval is imminent and their cash flow is about to get crimped. Or some combination thereof. Or they are just being prudent. Dew speculates on IHub that it is most likely to finance development of an FoB, since Momenta has said they won't take 118 forward on their own dime, and 402 is too early to require significant funding. My problem with this FOB concept is that there is still not much of a pathway to approval, and I don't expect the FDA to get too specific about that until middle of next year, at best. So why move forward in this way now? There would be plenty of dough by the time there is some regulatory way clear to proceed. They could probably do it even with t-nox approved. It also doesn't speak to much confidence in their lawsuit on t-enox -- the current one, or the next one if this is dismissed but refiled if t-enox is launched. They could have done this deal as soon as the m-enox was approved at much better prices. Don't like it. With the market in Santa Claus rally mode, Momenta sees no help until next year. At that point I expect general market weakness, mid-winter. So I am not in a rush to add here. Ah, well. Should make MNTA a good contest pick for next year. Sigh. How many times have we thought that? I'm sure Craig Wheeler is going to be asked about this a week from now, if he does not address the issue voluntarily. So, I'm going to speculate that it means Momenta is going to do one more step with 118. Cheers, Tuck

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