$10M milestone payment from Sandoz earned for the second anniversary of Glatopa® 20 mg as the sole FDA-approved generic on the market for patients with relapsing forms of multiple sclerosis
Ended second quarter with a strong cash position of $457M
CAMBRIDGE, Mass., Aug. 02, 2017 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA) today reported its financial results for the second quarter ended June 30, 2017 and provided a corporate update.
“In the second quarter Glatopa 20 mg continued to provide us with steady funding and recently earned us a $10 million milestone payment from Sandoz for its continued success as the sole FDA-approved generic version of COPAXONE® on the market. We remain optimistic that we could see a potential Glatopa 40 mg approval and launch into the marketplace in the 2017 timeframe,” said Craig A. Wheeler, President and Chief Executive Officer of Momenta Pharmaceuticals. “Our biosimilar programs also continue to advance with several anticipated events later this year including a potential submission for marketing approval of our biosimilar HUMIRA® candidate, and with our collaboration partner Mylan, top-line data from our biosimilar ORENCIA® candidate and progressing M710 toward a clinical trial. For our novel drugs, we look forward to working with CSL to advance M230 into the clinic and reporting data for our wholly-owned asset M281.”
To read full press release, please click here.
Ended second quarter with a strong cash position of $457M
CAMBRIDGE, Mass., Aug. 02, 2017 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA) today reported its financial results for the second quarter ended June 30, 2017 and provided a corporate update.
“In the second quarter Glatopa 20 mg continued to provide us with steady funding and recently earned us a $10 million milestone payment from Sandoz for its continued success as the sole FDA-approved generic version of COPAXONE® on the market. We remain optimistic that we could see a potential Glatopa 40 mg approval and launch into the marketplace in the 2017 timeframe,” said Craig A. Wheeler, President and Chief Executive Officer of Momenta Pharmaceuticals. “Our biosimilar programs also continue to advance with several anticipated events later this year including a potential submission for marketing approval of our biosimilar HUMIRA® candidate, and with our collaboration partner Mylan, top-line data from our biosimilar ORENCIA® candidate and progressing M710 toward a clinical trial. For our novel drugs, we look forward to working with CSL to advance M230 into the clinic and reporting data for our wholly-owned asset M281.”
To read full press release, please click here.
