Biotech Values

[Cactus Quave]

MNTA’s position on funding development and financial management.

During Craig Wheeler's presentation at Oppenheimer on 11/3/10, at about the 20 minute mark he pretty clearly articulated MNTA’s position on what the company is funding and their financial strategy:

"We are advancing FOBs, we are looking for a partner for M118 and we are pushing M402 forward"

"The way we are managing this company now is...fiscally conservative...we don't know when Teva is coming, we know our economics will change."

"We have basically set a financial plan on the company which says, 'What would it take financially if we had a multiple generics [of Lovenox] today and we couldn't get Copaxone until the patents expired?'"

MNTA may have some insight regarding if and when TEVA could get approval for generic Lovenox, but I suspect that, as Craig Wheeler says, they do not and are simply being fiscally conservative. I heard the Oppenheimer presentation before the offering was announced, yet I was still surprised at the news of the offering. After listening to this presentation again, I realize that I should have seen the possibility of an offering coming.