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Biotech / Medical : Momenta Pharmaceuticals Inc.
MNTA 52.480.0%Oct 2 5:00 PM EST
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To: mopgcw who wrote (2901)12/23/2011 1:28:07 PM
From: tuck  Read Replies (1) of 3027
 
The one tidbit not in the 8-K: There is a one time (as in "now or never") opt-in decision for biologics 3-6 at the time of the IND of biologic 3. My understanding was that it was for all 4 at once, but I may have misparsed that. It would make more sense for the opt in on each biologic to be done (or not) as each one INDs. Not a huge deal from the standpoint of immediate valuation, so we can wait for the transcript to become available, or to hear from someone who heard better than I did. a large part of that decision will be fiscal ability. First IND expected in 2014 at earliest. That would be interesting timing, as all of the current legal wrangles should be wound down by then, with their fiscal impacts resolved.

Let go of my latest trading position, which was bought a few months ago in the $13s. My guess is newsflow from MNTA will be fairly quiet for the next few months (outside of earnings), which will give macro conditions a chance to define the next entry. I personally think markets are topping here.

Risk to that is a ruling -- legal and/or regulatory -- on Copaxone within that few months, before markets pull back. With a good size core position, that's a risk I can live with.

Cheers, Tuck
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