Friday, May 22, 2015 5:23:44 PM
http://finance.yahoo.com/q/hp?s=MNTA+Historical+Prices
5/20: 5,013,300
5/21: 1,275,600
5/22: 785,840
MNTA has been surprisingly strong and finished the day at 19.88.
I wrote a few May 22nd covered calls at 0.55 at the end of the day. 20.75 has been the highest it has traded since Copaxone approval. So, I don't mind losing some shares at 22.55 I am most likely going to keep this premium, unless the appellate court rules that the TEVA patent is not valid and MNTA / Sandoz can launch GLATOPA immediately.
PS: One theory on the YMB is that, after the secondary, we may get the announcement that a new biosimilar partnership has been signed. The partner possibly wanted to sign this agreement sooner rather than later (not wanting to wait till Glatopa revenues come in) and for that to happen, they wanted MNTA to have more cash and hence the secondary
http://seekingalpha.com/article/3129996-momenta-pharmaceuticals-mnta-ceo-craig-wheeler-on-q1-2015-results-earnings-call-transcript?part=single
Craig Wheeler - President and Chief Executive Officer
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