Replies to post #3791 on Momenta Pharmaceuticals, Inc. (MNTA)

[jbog]

Palo Alto Investors. I am familiar with Palo Alto. They have been a shareholder for 5 years, and have not made much money over that time.

Well, the nerve of them. They must be on the sauce this morning. I hope you told them they could just sell their shares and move on, or better yet they can move to China!!!

They should be glad that the price of Momenta is within pennies of the price 5 years ago when Wheeler showed up.

[go seek]

Thanks for the report Rocky!

I see PALO ALTO INVESTORS has 3,502,002 shares or 6.89%

[Bio_pete]

Thanks for update.

I don't understand Palo Alto's position in regards to the share count. Are they unhappy with MNTA raising cash in the secondary, # of options granted to management & employees, or do they just want MNTA to buy back shares in order to increase the share price?

Whats your feeling about a partnership? Did they mention the MRK deal?

Anything new concerning talks with TEVA subsequent to Citizens petition?

[DewDiligence]

My opinion of Palo Alto Investor just went down. Thanks for your report.

[joethdo]

Thanks for that color. I'm guessing that since they felt compelled to state their case at the meeting that management has resisted their ideas.

In this case, I agree with management. They have executed and it is not their fault that the market is seriously undervaluing the company.

[MadCityCyclone]

That is interesting. Accumulating an ever larger hoard of cash, in and of itself, isn't typically the best way to maximize shareholder returns. Smart people like Palo Alto Investors understand this.

Of course, management interests and shareholder interests aren't always aligned.

Queue rant by the bad humor man in 3, 2, 1...

Most interesting was a presentation from a major shareholder - Palo Alto Investors. I am familiar with Palo Alto. They have been a shareholder for 5 years, and have not made much money over that time. Their big thing is share count - dilution by another name. Proposed buying back stock. Had 4-5 boards with graphs and "fiduiary duty" definition. Clear that they had been talking to management and board of directors on topic for months.

[ghmm]

I too appreciate your notes and look forward to you posting more.

I imagine management was polite but can't see how they even would give it the slightest of consideration. I don't recall any relatively early stage bio's buying back stock much less one that would raise money in the low teens only to buy back in the high teens a few months later.