Momenta Phama (MNTA) Misses Q3 EPS by 13c

Momenta Phama (NASDAQ: MNTA) reported Q3 EPS of ($0.56), $0.13 worse than the analyst estimate of ($0.43). Revenue for the quarter came in at $9.34 million versus the consensus estimate of $13 million.

At September 30, 2014, the company had cash, cash equivalents, and marketable securities of $176.5 million.

"In the third quarter we continued to make important progress across our complex generics, biosimilars and novel drug programs," said Craig A. Wheeler, President and Chief Executive Officer of Momenta Pharmaceuticals. "We discussed this progress at our R&D day in early October where we announced encouraging top-line results from the Part A phase of our necuparanib trial and unveiled three promising novel autoimmune drug candidates that we expect to reach clinical stage in 2016. We also discussed the progress we made in our biosimilars portfolio and in building on that progress, we are pleased to report that a European clinical trial application has been filed for M923, our biosimilar version of Humira® (adalimumab) in collaboration with Baxter. In addition, we recently achieved an important milestone in the development of our second biosimilar candidate, M834, also in development with Baxter.

"In a short amount of time our innovative technology platform has allowed us to develop a robust portfolio of product candidates that we believe have the potential to create significant value for our shareholders in the coming years and beyond," continued Mr. Wheeler.

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

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