"Shea sounded like a guy who was beaten down"
The email from another retail shareholder in yahoo probably was the reason. The ANONYMITY of the shareholder is preserved based on request. These guys think that they can enrich themselves while this particular long term Shareholder has taken hefty losses. Zero Accountability???
I asked this shareholder to tone down in future communications but continue to raise questions on how they are running this company and how they are maximizing shareholder value.
BEGIN QUOTE
Hello,
I am a disgruntled shareholder with massive losses in Momenta. I would like to get some answers to the following questions:
1. What is MNTA going to do to make the share holders happy? Granting thousands of options / shares to yourselves doesn't help the share holders. You can bet that Palo Alto Investors are not happy right now.
2. Will there be a buyback at these levels? You have almost 400 million dollars in the bank earning nothing. Right now the company is valued for about $200 million if you take out the cash. Some shorts would argue even that is overvalued considering that you might lose the Copaxone lawsuit and that the FDA may not grant you approval and Teva and others might get Lovenox generic approval. How would you go about unlocking value?
3. Is the company going to make a statement about the Amphastar approval? The longer you stay silent the more the stock tanks. You guys should know better and shouldn't have to be told this. Were you caught by surprise? Can you file a lawsuit preventing launch since you hold the process patents?
4. Why hasn't there been any progress on the FOB front? Is it hubris that lead you to believe that you have the bargaining power? Instead of making deals from a position of strength, you now have to do it from a position of weakness.
5. Are you going to try and sell the company? I was a staunch believer that Momenta could survive on its own. I believe that no longer. Management has shown no urgency in moving things forward at all and seemed to be just regurgitating the same nonsense for over a year. If there is a buyout proposal for anything over $20, it would get my YES vote.
6. Are you now ready for class action lawsuits? You guys opened yourself up for that by doing nothing in the last year. Maybe you have been doing something, but it doesn't help if you guys don't communicate that. Maybe you need a new PR department along with some fresh ideas in management. I hate lawyers and these kinds of lawsuits. But it is inevitable, don't you think?
7. I hope you will address some of these issues in today's conference instead of repeating the same nonsense from previous conferences.
Thanks
Shareholder
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