I agree 100% with you, but MNTA wasn't that "cheap" of a market cap - it had a large % of approval already bult in - the only real question was timing - next week or next year has been the question (IMO) for the last 2 years.
But MNTA does seem cheap now they have approval, I am not long and it's not in my radar here but if you beleive they will sell a few billion $ of this for atleast 2 years then MNTA seems cheap, but as was pointed out earlier - the short term "advantage" they have by getting first approval is not likely to equate to a high stock price sicne it's very debatable how long they have - its tough to forecast sales out more then 18 - 24 months.
Now people will worry about when sales will stop rather then when approval will come - and I am sure over the next 2 years there will be fits of euphoria and dispair as events make it seem like the end of their position as sole generic seems more firm or is in question. So now the ???? is TEVA rather then FDA timing - there's always something to worry about I guess.
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