momenta pharmaceuticals inc (MNTA) Key Developments
Momenta Pharmaceuticals Inc. Adopts Third Amended and Restated By-Laws
Dec 15 14
On December 10, 2014, the Board adopted the Third Amended and Restated By-laws of Momenta Pharmaceuticals Inc. The By-laws became effective immediately upon adoption by the Board, and include the following amendment. A new Article VI (Article VI) has been added to the By-laws to provide that, unless the Company consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (the Court of Chancery) (or, if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware or other state courts of the State of Delaware) will be the sole and exclusive forum for the following actions: (i) any derivative action or proceeding brought on behalf of the Company; (ii) any action asserting a claim for breach of a fiduciary duty owed by, or other wrongdoing by, any director, officer or other employee or agent of the Company to the Company or the Company's stockholders, creditors or other constituents; (iii) any action arising pursuant to any provision of the Delaware General Corporation Law or the Company's certificate of incorporation or by-laws; (iv) any action to interpret, apply, enforce or determine the validity of the Company's certificate of incorporation or by-laws; and (v) any action asserting a claim against the Company governed by the internal affairs doctrine. Pursuant to Article VI, to the fullest extent permitted by applicable law, any person or entity purchasing or otherwise acquiring any interest in shares of capital stock of the Company shall be deemed to have notice of and consented to the provisions of Article VI. Article VI further provides that, if any provision or provisions of Article VI are held to be invalid, illegal or unenforceable as applied to any person or entity or circumstance, then, to the fullest extent permitted by law, the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of Article VI will not be affected.
Peter Barton Hutt to Retire from Momenta Pharmaceuticals Inc.'s Board of Directors, Effective December 31, 2014
Dec 15 14
Peter Barton Hutt notified Momenta Pharmaceuticals Inc. that he will retire from the company's Board of Directors, effective December 31, 2014. Mr. Hutt has served as a director since June 2001 and currently serves as member of the Nominating and Corporate Governance Committee. Mr. Hutt's retirement was not the result of any disagreement with the company on any matter relating to the company's operations, policies or practices.
Momenta Pharmaceuticals Inc. Presents at Stifel Healthcare Conference 2014, Nov-19-2014 08:35 AM
Nov 6 14
Momenta Pharmaceuticals Inc. Presents at Stifel Healthcare Conference 2014, Nov-19-2014 08:35 AM. Venue: The Palace Hotel, 455 Madison Ave, New York, NY 10022, United States. Speakers: Richard P. Shea, Chief Financial Officer, Principal Accounting Officer, Senior Vice President and Treasurer.
Momenta Pharmaceuticals Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Second Half of 2014
Nov 5 14
Momenta Pharmaceuticals Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company has posted total collaboration revenue was $9,336,000 against $10,751,000 a year ago. Operating loss was $29,275,000 against $25,661,000 a year ago. Net loss was $29,101,000 or $0.56 basic and diluted per share against $25,382,000 or $0.50 basic and diluted per share a year ago.
For the nine months, the company has posted total collaboration revenue was $31,071,000 against $22,716,000 a year ago. Operating loss was $83,257,000 against $79,257,000 a year ago. Net loss was $82,619,000 or $1.61 basic and diluted per share against $78,347,000 or $1.54 basic and diluted per share a year ago.
The company confirmed its financial guidance for the second half of 2014: the company previously projected that total 2014 operating expenses, excluding stock-based compensation and net of collaborative revenues, would be $28 to $30 million per quarter and, in the first three quarters of 2014, the average amount per quarter was $30 million.
For the fourth quarter of 2014, the company projects total operating expenses, excluding stock-based compensation and net of collaborative revenues, to be $30 to $32 million. The company previously projected that its net cash usage in 2014, excluding revenue from the potential launch of M356 and milestones earned from the Baxter biosimilars collaboration, would average approximately $26 million per quarter.
Momenta Pharmaceuticals Inc. Presents at Goldman Sachs Group 2014 US Emerging / SMID Cap Growth Conference, Nov-20-2014 08:10 AM
Nov 1 14
Momenta Pharmaceuticals Inc. Presents at Goldman Sachs Group 2014 US Emerging / SMID Cap Growth Conference, Nov-20-2014 08:10 AM. Venue: New York Marriott Marquis, New York, New York, United States. Speakers: Richard P. Shea, Chief Financial Officer, Principal Accounting Officer, Senior Vice President and Treasurer.