Momenta Pharmaceuticals, Inc. (MNTA)

[jbog]

Rocky3,

management should not have included an offering last fall. It was evidence of economic weakness at the time, not strength.

I couldn't agree with you more. CW could have said at numerous conferences that MNTA saw no need to raise cash because he didn't see T-Enox on the immediate horizon. Instead they claimed some garbage about a FOB program, gave expense rates for a year out (which contradicted and big spend program) and continued to rake in the M-Enox cash.

The whole transaction made no sense, so investor's had to side with the safest assumption which would have been that T-Enox was coming.