Momenta Stock Rises 4% On Corporate Update

Momenta Pharmaceuticals Inc. shares rose 3.6% in pre-market trade Friday after the company provided a corporate update, including a Thursday announcement about a research collaboration with CSL Limited , from which Momenta will receive $50 million. The company's latest update said that its biosimilar for Humira, an anti-inflammatory that is the world's top-selling treatment, could be up for regulatory submission in mid-2017. A 40 mg product for generic multiple sclerosis drug Glatopa, part of a collaboration with Novartis' Sandoz , could be approved and launched by the first quarter of 2017, Momenta said. Momenta shares have risen 36.0% over the last three months, compared with a 5.0% rise in the S&P 500 . Momenta shares were trading at $15.50 as of Thursday's close.