Replies to post #2754 on Momenta Pharmaceuticals, Inc. (MNTA)

[Rocky3]

It made big money for the underwriters and any insiders who shorted and/or used puts with the advanced knowledge.

I doubt that there was anyone who fit into this category (insiders that shorted or used puts), but then I have always doubted almost all conspiracy theories.

JMO.

[Dub Narcotic]

I think the financing was necessary. Momenta clearly believed that Teva approval was a distinct possibility by year end (as we now know, this was a common belief amongst both investment banks and hospital buying groups). They decided to raise enough money to feel comfortable for the next couple of years without excessive dilution. It was a prudent, if ugly, move.

That being said, I would like to see either a one-time dividend or a stock buyback as penance for the move if we see two or three more quarters of juicy Lovenox revenue.

[10nisman]

The secondary offering made zero economic sense.

Has anyone posting on this board ever worked in a senior management position (CEO, CFO, COO, etc.), of a publicly traded company in the past 5 years? If so, can you please explain to the population of posters that MNTA's Management team was essentially forced into doing the offering no matter what they believed personally or would have liked to have done.

The job of a CFO is to make sure the business remains a going concern - has the necessary cash flow/liquidity to continue operating and growing the business. Had MNTA not done the offering and tL obtained approval, not only would MNTA have faced a much tougher situation in raising cash via an offering (much worse dilution) but they would have also faced a laundry list of shareholder lawsuits suing MNTA and its executive management team. Something tells me the same people complaining about the offering would have participated in these lawsuits.

So before acting like you know or complaining about the offering or how management has dealt with or will deal with certain situations, realize Rick and Craig cannot always do or say what they believe or want to do. I assure you they didn't want to do the offering and that they've wanted to say many times over how they really feel about tL's chances of approval however they cannot. We can thank the wonderful world of lawyers for that.

I encourage everyone that has bitched and complained about the offer, to either sell your shares or just accept the fact that management's hands were tied and look forward to MNTA's future. In addition, one should also see the positives of the offering. It was small in size, it strengthened the balance sheet, and it also demonstrated potential damages to MNTA from Teva's tL propaganda --- which may have helped in shutting up Teva.

Life is short and it is now time to forget the offering and look forward to the returns of MNTA's printing presses, rock solid financials and very bright future.