Biotech Values

[DewDiligence]

I’m somewhat more bullish on MNTA than I was six months ago because the US Congress passed enabling legislation for FoB’s that contains provisions favorable to MNTA. The new healthcare law gives the FDA discretion on a case-by-case basis to decide whether to require clinical trials for approval of a biosimilar/biogeneric (#msg-48581353); this is a provision that MNTA lobbied hard to have included in the law.

Additionally, a few bullish events occurred between six and twelve months ago:

• Bruce Downey, ex-CEO of Barr Labs, joined MNTA’s BoD (#msg-38645684).

• MNTA raised $47M in an underwritten offering, giving it enough cash to fund operations through the end of 2011 (#msg-46530544, #msg-41817975, #msg-41777300).

• The phase-2a study of M118 in the PCI setting was successful (#msg-41846746).