Momenta Pharmaceuticals, Inc. (MNTA)

[pollyvonwog]

MNTA's 2016 financial outlook

At December 31, 2015, Momenta had $350.0 million in cash, cash equivalents and marketable securities.

The 2016 burn rate is $45m to $55m so that's $200m for the year.

MYL paid a $45m upfront payment for the partnership and will pay an additional $60m this year in "milestones".

There is a baseline for Glatopa sales at $15m a Q. Let's assume TEVA is correct and no other Gx 20mg gets approved in 2016. That's $60m in glatopa revenue to MNTA (is there a year 1 miletone for sole approval?).

So by the end of 2016, MNTA should still have north of $300m on their balance sheet.

While obviously Glatopa uptake is going far slower than anyone except TEVA would like, I think I'm missing the idea of financial mishandling that others on the board seem to think is happening at Momenta (planned selling & no open market buying aside)

On another note, it really seems like Sandoz is playing the 20mg super cautious so the 40mg market stays robust (and TEVA also kicking ass at what they do best).