Momenta Pharmaceuticals, Inc. (MNTA)

[RockRat]

That's about right. Per their last CC, the high side of the burn rate is $15 million per q. Assuming no legal victories to generate revenue prior to Copaxone process patent expiry, that should leave them with somewhere between $150 to $200, about half the cash balance, in 3 years. FOBs a lot closer to fruition, as well; that should add value by late 2015. I don't fear dilution; I have some fear of non-approval of mCopax, but think odds are pretty good it will be approved by then.

Because, as has been hashed out to death here, the FDA can approve before patent expiry, allowing the applicants to hit the ground running, if not launch at risk.

It is also possible, that upon approval prior to patent expiration, a settlement could be reached. Can't begin to make odds on that, myself, but it's a possibility.

Aside from possible non-approval of mCopax, just about all the bad news has happened. I still think there's a good possibility the general markets swoon in coming months, taking MNTA with it for a couple of bucks in absence of said approval.

So I'm looking for $11s in coming months, and would buy aggressively there. Where in the $11s you ask? That kind of fine tuning will be attended to in due course, but call my tentative buy target $11.50 for now.

Regards, RockRat