Here’s Why Momenta Pharmaceuticals Dropped 13.5% Today
What happened
Without any meaningful revenue, Momenta Pharmaceuticals’ (NASDAQ:MNTA) second-quarter report was rather uneventful, so it’s a little surprising to see shares down 13.5% today without any significant news.But perhaps the lack of news is what’s making short-term investors head for the exits.
So what
Momenta recorded $6.6 million in product revenue from sales of Novartis’ Glatopa, a generic version of multiple sclerosis treatment Copaxone. That was double the same period a year ago…
