Momenta Reports Expected Results While Awaiting Clarity on Pfizer Facility Issues
Momenta's first-quarter results largely fell in line with our expectations. The company reiterated its non-GAAP operating expense guidance of approximately $200 million-$240 million for the full year, and as a result we are leaving our fair value estimate and moat rating unchanged. Momenta's in-line results remain overshadowed by the delayed approval timeline for its generic version of Copaxone 40 mg due to regulatory issues at a contract manufacturing facility owned by Pfizer. While Momenta has...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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