One of my mottos in small biotech investing is to avoid companies that are likely to dilute (or as the Countours and J. Geils put it, "First I look at the purse.") I doubt we will ever have this worry again with MNTA, but I found the following statement from CW reassuring:
Before I turn it over to Rick Shea to provide a financial update, I want to mention that despite the fact that we have a launch product generating substantial cash flow, we still intend to manage our finances conservatively. Last week, we engaged in a discussion of R&D productivity and were cautioned that R&D organizations frugality promotes alignment and abundance promotes bureaucracy.
At Momenta, we have every intention to build on our track record of achievement while maintaining financial discipline.
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