Biotech Values

[DewDiligence]

Just to be clear: Wheeler’s statement on the 2Q10 CC was that MNTA expects to be free and clear of the Lovenox reimbursement obligation to NVS in at most three quarters:

http://seekingalpha.com/article/218116-momenta-pharmaceuticals-inc-q2-2010-earnings-call-transcript

[Craig Wheeler]: We do have to repay our proportional share development and legal cost incurred during the past six years. This is paid through a deduction from the profit share owed to us, capped at a maximum of 50% reduction in profit share for each quarter until the costs are fully paid back.

Although, we cannot disclose an exact number, our analysis shows that assuming sales and demand continue, we expect to pay all owed development costs within the first three quarters post launch and possibly sooner.