Biotech Values

[10nisman]

10, you stated that MNTA did the offering for FOB funding (and perhaps I'm wrongly inferring that you meant solely for that reason) but that idea was directly contradicted today. They are concerned about a Teva approval, and it was one of the reasons.

You are incorrect. MNTA management is not any more concerned about a tLovenox approval today than they were three months ago, six months ago or a year ago. The offering was to raise capital in order to insure they have the runway needed (warchest of cash) to build their FOB platform. MNTA management is being conservative (managing risk -which is part of their management duties) and running the business like a prudently.

IMO, people should be looking at the capital raise as management's way of buying insurance against a tLovenox approval. The chance of them needing the insurance may be very small (like buying flood insurance on a house in the desert) however management has a responsibility to shareholders to properly manage risks (known or otherwise). I think its safe to assume if MNTA management was truely concerned about a tLovenox approval they would have raised substantially more than $54 million.

10nis