updated 12/13/2010 11:46:16 AM ET 2010-12-13T16:46:16

CAMBRIDGE, Mass., Dec. 13, 2010 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA), a biotechnology company specializing in the characterization and engineering of complex drugs, today announced that it has completed the previously announced underwritten public offering of 4,000,000 shares of its common stock, offered at a price of $14.35 per share. The net proceeds to Momenta from the sale of shares in this offering, after deducting customary underwriting discounts and commissions, were approximately $54.2 million.

UBS Investment Bank was the sole book-running manager for the offering. Cowen and Company and Canaccord Genuity acted as co-managers for the offering. Momenta has granted the underwriter a 30-day option to purchase up to an additional 600,000 shares of common stock to cover overallotments, if any. 

The shares were sold pursuant to the Company's existing shelf registration statement, base prospectus, and prospectus supplement as filed with the Securities and Exchange Commission. Copies of the base prospectus and the related prospectus supplement are available from UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, or by calling 888-827-7275. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Momenta Pharmaceuticals, Inc., nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 

About Momenta

Momenta Pharmaceuticals is a biotechnology company specializing in the detailed structural analysis of complex mixture drugs. Momenta is applying its technology to the development of generic versions of complex drug products, as well as to the discovery and development of novel drugs. Momenta was founded in 2001 based on technology initially developed at Massachusetts Institute of Technology and is headquartered in Cambridge, MA.

To receive additional information about Momenta, please visit the website at www.momentapharma.com , which does not form a part of this press release.  

Our logo, trademarks, and service marks are the property of Momenta Pharmaceuticals, Inc. All other trade names, trademarks, or service marks are property of their respective owners.

CONTACT:  Momenta Pharmaceuticals, Inc.
          Beverly Holley, Director, Investor Relations
          617-395-5189
          bholley@momentapharma.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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