Momenta Pharmaceuticals’ 4th-quarter loss narrows on boost in revenue from partnerships

Momenta’s 4Q loss narrows on higher revenue

CAMBRIDGE, Mass. — Momenta Pharmaceuticals Inc. said Thursday its fourth-quarter loss narrowed on a boost in revenue from drug development partnerships.

The biotechnology company lost $14.7 million, or 34 cents per share, compared with a loss of $18.4 million, or 50 cents per share, in the year-ago period. Revenue rose to $5.6 million from $2.9 million.

The results beat expectations of analysts polled by Thomson Reuters, who expected a loss of 36 cents per share on revenue of $4.2 million.

The company has collaborations with Sandoz AG and Sandoz Inc. and potential products include a generic version of Teva Pharmaceutical’s multiple sclerosis drug Copaxone.

For the full year, the company lost $64 million, or $1.60 per share, compared with a loss of $62.6 million, or $1.74 per share, in 2008. Revenue rose to $20.2 million from $14.6 million.

Shares of Momenta Pharmaceuticals fell 39 cents to $14.29 in morning trading.