CAMBRIDGE, Mass., Feb. 21, 2017 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA) today reported its financial results for the fourth quarter and year ended December 31, 2016. For the fourth quarter of 2016, the Company reported total revenues of $34.2 million, including $15.8 million in product revenues from Sandoz’s sales of Glatopa® 20 mg (glatiramer acetate injection), net of a deduction of $3.6 million for reimbursement to Sandoz of the Company’s share of Glatopa-related legal expenses. For the year ended December 31, 2016, the Company reported total revenues of $109.6 million, including $74.6 million in product revenues from Sandoz’s sales of Glatopa 20 mg, net a deduction of $3.6 million for reimbursement to Sandoz of the Company’s share of Glatopa-related legal expenses. Momenta reported net income of $41.5 million, or $0.60 per share for the fourth quarter of 2016, compared to a net loss of $(29.2) million, or $(0.43) per share for the same period in 2015. For the year ended December 31, 2016, the Company reported a net loss of $(21.0) million, or $(0.31) per share compared to a net loss of $(83.3) million, or $(1.32) per share for the same period in 2015. At December 31, 2016, the Company had cash, cash equivalents, and marketable securities of $353.2 million compared to $350.0 million at December 31, 2015.
