Biotech Values

[DewDiligence]

MNTA—If there was a reason for the cancellation [of 10b5-1 plans], what was the likely reason?

1. Progress in the M402 trials?

No; insufficiently consequential in the overall scheme of things.

2. They feel good about the appellate court giving them an en banc re-hearing?

Craig Wheeler publicly stated that an en banc rehearing is very likely, so this item does not involve non-public info.

3. They feel good that m-Copax is close to FDA approval?

Possibly. Even though MNTA can’t launch the product yet, FDA approval of the Copaxone ANDA would be highly bullish for the share price, IMO.

4. There is progress on the 2-3 drugs that they are working with Baxter?

No; ditto my answer to item #1 above.

5. They have a miracle cure for baldness?

LOL. If they do, the program would still be very early and insufficiently consequential in the overall scheme of things.

You left out what is (IMO) the most likely explanation. If MNTA’s officers have in fact terminated their 10b5-1 plans (which is something we don’t know yet), the company is probably in discussions about being acquired.