Momenta Pharmaceuticals Inc.

12/06/2018 | Press release | Distributed by Public on 12/06/2018 21:03

UPDATE: Momenta Pharmaceuticals Announces Pricing of Public Offering of Common Stock

CAMBRIDGE, Mass., Dec. 06, 2018 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA), a biotechnology company with a validated scientific platform focused on discovering and developing novel therapeutics to treat rare, immune-mediated diseases, today announced the pricing of its underwritten public offering of 17,391,305 shares of its common stock at the public offering price of $11.50 per share for total aggregate gross proceeds to Momenta of approximately $200 million. Momenta has granted the underwriter an option to purchase up to an additional 2,608,695 shares of its common stock, exercisable for 30 days.

Goldman Sachs & Co. LLC is acting as sole book-running manager for the offering.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 that was initially filed with the U.S. Securities and Exchange Commission (SEC) on February 29, 2016. A preliminary prospectus supplement describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. A final prospectus supplement will be filed with the SEC and will form a part of the effective registration statement. Copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained, when available, by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone at (866) 471-2526 or e-mail at [email protected].

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of shares of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Momenta

Momenta is a biotechnology company with a validated innovative scientific platform focused on discovering and developing novel therapeutics to treat rare, immune-mediated diseases. Momenta's lead product candidate, M281, is a potentially best-in-class anti-FcRn antibody; M254, is a hyper-sialylated human immunoglobulin (hsIgG) designed as a high potency alternative to intravenous immunoglobulin (IVIg); and M230 (CSL730), is a potential first-in-class novel recombinant Fc multimer being developed in collaboration with CSL. Momenta also has a focused pipeline of two biosimilar candidates: M923, Momenta's wholly-owned proposed biosimilar to HUMIRA®, and M710, a proposed biosimilar to EYLEA® being developed in collaboration with Mylan. Momenta's two FDA-approved complex generic products, enoxaparin sodium injection and Glatopa® (glatiramer acetate injection), are marketed by its collaboration partner, Sandoz.

Momenta's logo, trademarks, and service marks are the property of Momenta Pharmaceuticals, Inc. All other trade names, trademarks, or service marks are property of their respective owners.

Forward Looking Statements

Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the underwritten public offering, the intention to file a final prospectus supplement and market potential and product revenues of the Company's product candidates. Forward-looking statements may be identified by words and phrases such as 'advance,' 'anticipate,' 'being developed,' 'believe,' 'continue,' 'expect,' 'guidance,' 'look forward to,' 'may,' 'plan,' 'possible,' 'potential,' 'progress,' 'propose,' 'remains,' 'target,' 'will,' 'working toward' and other similar words or expressions, or the negative of these words or similar words or expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, including those referred to under the section 'Risk Factors' in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, filed with the Securities and Exchange Commission, as well as other documents that may be filed by the Company from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. The Company is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Momenta Pharmaceuticals, Inc.