Momenta Pharmaceuticals, Inc. (MNTA)

[GrthzGd]

Today's Annual Meeting in Boston.

I attended, too. Will Edwards, the PAI representative, also demanded that MNTA should start returning cash to stockholders. Frankly, I was surprised that a supposedly sophisticated investor would be asking such a young company facing the potential $60b untapped market for FOBs, and having only just tapped a steady source of income, start depleting its accumulated cash so early in the game. The other stockholders present appeared to disagree with him.

Wheeler also made the point in response to a questioner (I think it was the guy in the green shirt) that he was still actively pursuing big pharma partners for developing the FOBs, and expressly did not wish to spend MNTA's cash in order to build an infrastructure to do it in house as long as he faced the possible "cliff" of another enoxaparin generic appearing on the scene and cutting off the cash.

The stockholders' questions seemed much more interesting than the typical analysts' questions on conference calls.