Even though I am still long a fair amount I am not completely unsympathetic to your prior post regarding others able to do what MNTA does. I more feel the bar will either be too high for anyone or too low to allow others to compete at the same level. That being said I still see a fair amount of value to get to that level as the players will still be limited and perhaps in some aspects Momenta may be able to accelerate development or keep competitors at bay longer particularly if they can use their IP.
With that in mind if the court decision is reversed would you alter your valuation for momenta? What type of value would you then ascribe to their IP?
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