Momenta Pharmaceuticals, Inc. (MNTA)

[DewDiligence]

The overall figure in oncology is very low because there are a lot of small biotech companies who slap together a compound and try it out in various kinds of cancer to see what produces interesting data. Moreover, as noted in my previous post, the success rate is higher for drugs that are not small molecules and are being tested in their first indication, which improve the odds for M402 to some degree. All told, although I’m adding some points for MNTA’s heparin knowhow, this fudge factor is smaller than you probably thought.