Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) insider has recently participated in insider trading activity. President, WHEELER CRAIG A sold 1,688 shares for $11.30 via one transaction Feb 17. Another notable insider trading was done by President, Biosimilars Busines on Dec 11, who is the President, Biosimilars Busines. The insider acquired 520 shares at an average price of $15.84. Moreover, an insider selling of 80 shares was carried out by Bishop John E, Senior VP, Pharmaceutical Scie, on Nov 23. Following the transaction, the insider now owns 93,520 shares in total. SVP & General Counsel Leicher Bruce sold 328 shares for $17.75 through one transaction Nov 20. Following this sale, this insider’s stake in the company comprises 116,082 shares, priced at $1151533.44 as of Thursday.
The stock has experienced a total of 8 insider trades in the past three months. These trades include 4 sell activities and 4 buy trades. Furthermore, over the past 12 months, the stock was traded 129 times by insiders. In 125 of these trades, the insider was a seller while an employee of the company was the buyer in just 4 instances.
On February 18, 2016 Momenta Pharmaceuticals, Inc. (MNTA) reported its financial results for the fourth quarter and year ended December 31, 2015.
For the fourth quarter of 2015, the Company reported total revenues of $22.4 million, including $15.6 million in product revenues from Sandoz’s sale of Glatopa® (glatiramer acetate injection). For the year ended December 31, 2015, the Company reported total revenues of $89.7 million, including $43.4 million in product revenues from Sandoz’s sales of Glatopa and $20.0 million in milestone payments earned upon sole FDA approval and launch of Glatopa. Momenta reported a net loss of $(29.2) million, or $(0.43) per share for the fourth quarter compared to a net loss of $(16.0) million, or $(0.31) per share for the same period in 2014. For the year ended December 31, 2015, the Company reported a net loss of $(83.3) million, or $(1.32) per share compared to a net loss of $(98.6) million, or $(1.91) per share for the same period in 2014. At December 31, 2015, the Company had cash, cash equivalents, and marketable securities of $350.0 million compared to $191.5 million at December 31, 2014.
“The year 2015 proved to be pivotal in our company’s growth and development. Glatopa, our second complex generic to receive FDA marketing approval, is the first and only substitutable generic product for multiple sclerosis on the market today. Glatopa’s approval provided further validation of the strength of our proprietary analytic platform and physicochemical and biologic characterization capabilities, and has set the stage for our biosimilar and novel drug programs,” said Craig A. Wheeler, President and Chief Executive Officer of Momenta Pharmaceuticals. “In addition, Glatopa’s approval allowed us to complete a successful financing that significantly strengthened our balance sheet and helped us secure a strong biosimilars collaboration partner in Mylan. We believe we are now well-positioned to execute on our biosimilar and novel drug programs in 2016 and to continue to build our business for long-term growth and sustainability.”
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