Momenta Phama (MNTA) Misses Q2 EPS by 9c, Revenues Beat

Momenta Phama (NASDAQ: MNTA) reported Q2 EPS of ($0.48), $0.09 worse than the analyst estimate of ($0.39). Revenue for the quarter came in at $6.61 million versus the consensus estimate of $5.56 million.

“Momenta has made meaningful progress advancing our novel drug portfolio for auto- and alloimmune diseases, including a substantial data update from our lead program, nipocalimab,” said Craig A. Wheeler, President and Chief Executive Officer of Momenta Pharmaceuticals. “In particular, we achieved proof of concept for nipocalimab, establishing a linear and highly statistically significant correlation between rapid and durable IgG reduction and efficacy in MG. We are preparing to engage with regulators on the design for a Phase 3 study in MG and look forward to reporting full results from Vivacity-MG in the fourth quarter of 2020, as we advance ongoing studies of nipocalimab in other indications. Additionally, we were very pleased to receive rare pediatric disease designation for nipocalimab in hemolytic disease of the fetus and newborn (HDFN), which emphasizes the need for non-invasive, safe and effective treatment options for pregnant women with alloimmune diseases. Importantly, our data and FDA’s action supports nipocalimab as a best-in-class investigational FcRn-inhibitor for dosing precision and flexibility and its utility across IgG-mediated diseases.

Lastly, with M254, we recently completed enrollment in Part B of our multi-part Phase 1/2 clinical trial in idiopathic thrombocytopenic purpura (ITP) and look forward to sharing the study results later this quarter."

For earnings history and earnings-related data on Momenta Phama (MNTA) click here.

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