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Closing MNTA (Momenta) outperform

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February 28, 2008 – Comments (0) | RELATED TICKERS: MNTA

Hopefully I haven't ended this outperform too soon. I still think Momenta is undervalued and the FDA immunogenicity concern is ridiculous. However, I'm not real happy with the pace of the company's response and from their recent conference call it seems like they haven't made any progress towards clarity with the FDA. I was hoping this was a concern that could be cleared up quickly, but the company has yet to establish if further clinical trials will be required. Furthermore, the share price seems to have plateaued after the initial recovery from the oversell. I'll be back if the share price drifts downward again in the absence of positive catalysts.

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