Biotech Values

[DewDiligence]

We may presume that Ram resigned from the BoD because:

• FDA approval of generic Lovenox validates Ram’s life work. He has nothing to prove as a scientist.

• Ram has enough money to last several lifetimes, so he doesn’t need the stipends, shares and options he would’ve received by staying on the BoD. However, if he wants to raise cash for any reason, as a non-insider he will be able to sell shares whenever he wants rather than being limited to the programmed sales in a 10b5-1 plan.

• Ram has no particular expertise in commercial matters, so his absence from the BoD ought not to harm MNTA at this stage of the company’s development. Ram is still available as a consultant on science matters if MNTA wants his input.

Let’s please not get caught up in wild speculation that Ram’s resignation is part of a master plan for a new partnership or a buyout. In all likelihood, it has nothing whatsoever to do with anything like that.