Benzinga | Aug 10, 2020 07:28AM EDT

Recap: Momenta Pharmaceuticals Q2 Earnings

Shares of Momenta Pharmaceuticals (NASDAQ:MNTA) rose 1% after the company reported Q2 results.

Quarterly Results

Earnings per share increased 58.62% year over year to ($0.48), which missed the estimate of ($0.39).

Revenue of $6,610,000 higher by 27.56% year over year, which beat the estimate of $5,560,000.

Outlook

Momenta Pharmaceuticals hasn't issued any earnings guidance for the time being.

Momenta Pharmaceuticals hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Aug 10, 2020

Time: 08:30 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fwww.momentapharma.com%2Finvestors-and-news%2Fevents-and-presentations%2Fdefault.aspx&eventid=2396360&sessionid=1&key=83A6C844A8151699DD285F9EAEEE17C8&regTag=&sourcepage=register

Price Action

Company's 52-week high was at $39.88

52-week low: $11.29

Price action over last quarter: Up 0.70%

Company Profile

Momenta is a biotechnology company focused on the characterization and development of innovative drugs in autoimmune diseases. Its legacy business includes complex generic versions of MS drug Copaxone and anticoagulant Lovenox, and it receives royalties for these products through a partnership with Novartis. While a biosimilar version of Eylea is in the pipeline, Momenta terminated future development in generics/biosimilars in 2018. Several innovative drugs, including nipocalimab, M254, and M230, are in development to treat rare autoimmune diseases.