Momenta Pharmaceuticals, Inc. (MNTA)

[Double_Bagel]

About 7 million shares traded in the last 3 days since the secondary at 19 (7,250,00 is the amount of shares being offered)

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

Well, we already had a lot of inbound interest on our biosimilars discussions. So I don’t think it actually increased it, because we already with the return of the programs from Baxter fund very, very good reception for us going out as well as a lot of inbound discussions that are happening. But I do think it helps in couple of ways. One is that it further underlying the capabilities of our technology to differentiate ourselves in the FDA approval products, profits for the complex products. The second is it gives potential partners more confident that we’re going to have the capital needed to get the kind of deal we’re looking for that with just one move, they actually have Copaxone like economics on the biosimilars. And so that’s going to require us to put capital out there and obviously having an approval gives our partners comfort that we’re going to add some revenue streams coming in.