Biotech Values

[DewDiligence]

Bullish things for MNTA that could happen at almost any time:

• FDA tentative approval of MNTA’s Copaxone ANDA, which would allow an at-risk launch of NVS/MNTA’s generic Copaxone at the expiration of Teva’s Orange Book patents in 2014 and a risk-free launch at the expiration of Teva’s last Copaxone patent in 2015.

• Monetization of MNTA’s Lovenox royalty stream (#msg-81550997).

• A partnership deal for M402.

• Unexpected progress on one or more of the compounds in the FoB program with BAX (#msg-81498217, #msg-70258421).

• A buyout offer from BAX, NVS, or someone else.

None of these individual items (except perhaps the first one) is especially likely to happen soon; however, the probability that at least one of the above events happens in a given time period is clearly much greater than the probability of any specific event.