Momenta Pharmaceuticals Eyes 1-Yr High Pre-Bell

Momenta Pharmaceuticals shares were higher 4% in recent pre-market trade after the company reiterated its guidance for Q4 of 2016 and announced a license deal late Thursday.

MNTA was at $16.05 recently, the highest since late 2015 if it holds into regular trading. The current 52-week range is between $7.86 and $15.90.

The firm expects non-GAAP operating expenses of approximately $40 million to $45 million and to report $350 million cash, cash equivalents and marketable securities at end December.

This does not include the expected one-time payment of $51.2 million from Shire for the early termination of a collaboration agreement announced earlier this week, nor the expected $50.0 million upfront payment from CSL Limited announced Thursday. Under the CSL deal, Momenta will receive the upfront license fee and is eligible for up to $550 million in contingent clinical, regulatory and commercialization milestone payments.

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