Momenta Faces Biosimilar Setback as Generic Copaxone Timing Remains Uncertain
Momenta's third-quarter results were focused on generic Copaxone competition and the company's disappointing phase 1 study on biosimilar Orencia. While the company slightly lowered its full-year 2017 non-GAAP operating expense guidance range to $200 million-$210 million, just under our forecast of roughly $220 million, we plan to re-examine our forecasts with a possible change to our fair value estimate in light of management's commentary around its biosimilar candidates for generic Humira and O...Momenta Pharmaceuticals is a biotechnology company focused on the discovery and development of biologic therapies for the treatment of rare immune-mediated diseases. The company's programs include: M281, which is a fully-human anti-neonatal Fc receptor (FcRn), aglycosylated immunoglobulin G (IgG1), monoclonal antibody, designed to reduce circulating human immunoglobulin G (IgG) antibodies by completely blocking endogenous IgG recycling via FcRn; M230, which is a recombinant trivalent human IgG1 Fc multimer; and M254, which is a hyper-sialylated immunoglobulin designed as a high potency alternative to IVIg, a therapeutic drug product that contains pooled, IgG antibodies purified from blood plasma.
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