Replies to post #54402 on Biotech Values

[DewDiligence]

MNTA is a buy, IMO, based on:

1. M118, MNTA’s proprietary anticoagulant in phase-2 (#msg-23604134);

2. The partnership with Sandoz to develop a follow-on biologic for two undisclosed compounds owned by Sandoz; and

3. $132M in net cash projected for 12/31/07 (#msg-24205435).

There are about 37M shares (fully diluted), so you can do the math and see that the enterprise value is now less than $100M.

I think the stock is a buy even if you think the generic Lovenox and generic Copaxone programs never bear fruit. If you think these programs will bear fruit in due course, the stock is obviously an ever bigger buy. Regards, Dew