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MNTA looks to be setting up. Opened down 6% today on news of a $150M secondary shelf offering. Recovered to finish up for the day on heavy volume. Price doubled in the last two weeks on news U.S. court invalidates patent on Sanofi's Lovenox. MNTA is formulating a generic version. The drug is complex, and MNTA has proprietary technology for duplicating the formula. If successful, they will be the only competition for Sanofi for several years. They plan to submit to FDA for evaluation in August. Technically, MNTA looks to be completing a bull flag. The stock is volatile, since MNTA is a development stage company. Appropriate for risk capital only.
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