CAMBRIDGE, Mass., Dec. 22, 2010 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA), a biotechnology company specializing in the characterization and engineering of complex drugs, today announced it has completed the sale of an additional 218,647 shares of its common stock to the underwriters in connection with the previously announced underwritten public offering of 4,000,000 shares of its common stock, offered at a price of $14.35 per share. 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. The underwriters exercised their option to purchase the additional shares of common stock to cover over-allotments. The aggregate net proceeds to Momenta from the initial closing on December 13, 2010 and the over-allotment closing, after deducting customary underwriting discounts and commissions, were approximately $57.2 million.
The shares were sold pursuant to Momenta'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.
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CONTACT: Momenta Pharmaceuticals, Inc. Beverly Holley, Director, Investor Relations 617-395-5189 bholley@momentapharma.com