Biotech Values

[ThomasS]

MNTA: IMO, the news today was mildly positive to neutral.
I agree with the basis of your analysis, but have a different spin.
If we presume that the bulk of the last week's upside was disproportionately due to the FDA/heparin/MNTA-in-the-limelight factor, I believe the NVS anecdotal "early May" presentation slide is a minor factor. If NVS had not posted that slide, I think we would still be looking at the same pps today. Hence, I suspect that we will hear several analysts chime-in nlt Monday with a positive, but guarded bias.
Additionally, the timing of today's 28 April FDA communication may be more than a coincidence, as alluded to by the MS/Rodman upgrades regarding the FDA casting a more favorable light upon MNTA. (I doubt it, however. Word from the FDA was due.)
Another point may be that with the supposed FDA favoritism, the timeline for FDA action on the supplemental package may be shorter than what would have been expected prior to the heparin episode. Thus, the real timeline may be, net-net, the same or shorter.
Admittedly, I'm irritated that we were within .04 of a new 52-week high this morning before pulling back with the entire sector. No matter for us LTCG holders...