Biotech Values

[DewDiligence]

Re: MNTA’s effective cash balance at 6/30/12

From today’s PR:

At June 30, 2012, Momenta had $372.3 million in cash, cash equivalents and marketable securities. This cash position excludes restricted cash of $17.5 million, which serves as collateral for a security bond related to enoxaparin legal proceedings, and $2.5 million of cash that is restricted in connection with a facility lease letter of credit.

… Product revenue of $19.4 million from enoxaparin sodium injection.

Thus, at 6/30/12, MNTA’s total cash on hand plus receivables from NVS for 2Q12 Lovenox royalties was approximately $412M, a decrease of $10M relative to 3/31/12 (#msg-77997663).