Replies to post #77683 on Biotech Values

[rkrw]

Do they give the 7% back if Lovenox isn't approved?

Undisclosed must be the oncology program?

What exactly is financial discipline?

At least as far as open governance and disclosure this puts them in the top 1% of biotech.

[DewDiligence]

How MNTA Executed Against Its 2009 Internal Goals

These are the numbers used by the BoD’s compensation committee
to determine the 2009 bonuses for MNTA’s executive officers. Based
on the a priori goals, the bottom-line weighted performance would
have been 58.5%; however, a 10% post hoc adjustment was added,
bringing the bottom-line figure to 68.5%. I would characterize this
post hoc fudge factor as corporate malfeasance on a minor scale,
but MNTA does deserve some credit for disclosing it.

 
                                      Weighting    Actual Level     Weighted   
 Corporate Goal                        of Goal    of Achievement   Achievement   
  
 FDA approval of Lovenox ANDA . . . .  . 30%            0%            0.0% 
  
 Advancement of Copaxone program—US. . . 15%          100%           15.0% 
  
 Advancement of Copaxone program—EU. . .  5%           70%            3.5% 
  
 Advancement of glycoprotein   
 (FoB) program . . . . . . . . . . . . . 15%          100%           15.0% 
  
 Completion of M118 studies  . . . . . . 10%          100%           10.0% 
  
 Advancement of “corporate strategy” . . 15%          100%           15.0% 
  
 “Financial discipline”  . . . . . . . . 10%            0%            0.0%   
      
 Post hoc adjustment (fudge factor). . . 10%          100%           10.0%   
                                        ====                         =====   
 TOTAL                                  110%                         68.5% 

Source: Proxy statement for 2009 annual meeting on Form DEF14A, page 25 (http://sec.gov/Archives/edgar/data/1235010/000104746910004249/a2198205zdef14a.htm ).