Momenta Pharmaceuticals, Inc. (MNTA)

[DewDiligence]

Re: CSL deal /opt-in options

To trigger the 50% profit-sharing option, MNTA would have to opt in quite soon, according to CW’s statement on the 1/5/17 CC announcing the CSL deal. Under this scenario, MNTA would receive few, if any, development-based milestone payments for M230.

For the distinct 30% profit-sharing option, MNTA can opt-in at a later (undisclosed) stage of development. In this case, MNTA would get to keep any development-based milestone payments already received by the date of the opt-in.

Under either opt-in scenario, MNTA would forgo sales-based milestone payments (as you noted).