>Looking at the "timing" of MNTA's recent stock price, I'll guess it's the capital versus burn rate that's more responsible of the swoon in the stock price. Every stock was reevaluated the day Lehman Burned. The cash rich kept their heads up while the others got their heads chopped off.<
I respectfully disagree with this explanation, jbog, for the simple reason that MNTA is one of the “cash rich.” As of 9/30/08, MNTA had $95M in cash and no debt. At the burn rate of the most recent quarter, the $95M balance is enough to last almost seven quarters.
In other words, even if you’re a pessimist and you doubt that the FDA will approve generic Lovenox anytime soon, MNTA is still in good shape financially.
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