Yesterday, drugmaker Momenta Pharmaceuticals (NASDAQ:MNTA) released its first-quarter financial results. This release comes as Momenta awaits an FDA decision on whether to approve its generic version of the $3 billion-a-year anticoagulant Lovenox, marketed by Sanofi-Aventis (NYSE:SNY).

Waiting for a yet-to-be-determined date for a FDA regulatory decision can maddening, but Momenta and partner Sandoz, a subsidiary of Novartis (NYSE:NVS), are still expecting a decision on its generic Lovenox compound by the end of September. With a cash burn rate of $15 million this quarter, expectations for the full-year burn rate to be $50 million to $60 million, and cash and investments on the balance sheet of nearly $180 million, Momenta has plenty of resources to wait until the decision without the need for any dilutive financings.

Momenta isn't the only drugmaker expecting approval of its generic enoxaparin product. Competitor Watson Pharmaceuticals (NYSE:WPI) has been guiding investors to expect approval of its product sometime this year as well. Having to share generic Lovenox sales with other competitors like Watson or Teva (NASDAQ:TEVA) would obviously not be a desirable outcome for Momenta, and would call into doubt the superiority of its drug characterization technology and its competitive advantage.

Either way, besides advancing the rest of its pipeline forward, including promising second-generation anticoagulant product M118, there's nothing that Momenta can do right now but wait for the FDA decision.

Momenta is a Rule Breakers selection.

Fool contributor Brian Lawler does not own shares of any company mentioned in this article. The Fool has a disclosure policy.