UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 1)*

                          Momenta Pharmaceuticals, Inc.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                    Common Stock, $.0001 Par Value Per Share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    60877T101
                                    ---------
                                 (CUSIP Number)

                                December 31, 2005
                                -----------------
                      (Date of Event which Requires Filing
                               of this Statement)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

                  [ ]      Rule 13d-1(b)
                  [X]      Rule 13d-1(c)
                  [ ]      Rule 13d-1(d)



  *The remainder of this cover page shall be filled out for a reporting person's
  initial filing on this form with respect to the subject class of securities,
  and for any subsequent amendment containing information which would alter the
  disclosures provided in a prior cover page.

  The information required on the remainder of this cover page shall not be
  deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
  Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
  the Act but shall be subject to all other provisions of the Act (however, see
  the Notes).


                                  Page 1 of 10



-----------------------                                   ---------------------
CUSIP No. 60877T101                       13G             Page 2 of 10 Pages
-----------------------                                   ---------------------

--------------------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Advisors, LLC
--------------------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) /_/

                                                                      (b) /x/
--------------------------------------------------------------------------------
        3  SEC USE ONLY

--------------------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------------------------------------------------------------------
      NUMBER OF          5  SOLE VOTING POWER
        SHARES
     BENEFICIALLY           0
        OWNED         ----------------------------------------------------------
          BY             6  SHARED VOTING POWER
         EACH
      REPORTING             12,800 (see Item 4)
        PERSON        ----------------------------------------------------------
         WITH            7  SOLE DISPOSITIVE POWER

                            0
                      ----------------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            12,800 (see Item 4)
--------------------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           12,800 (see Item 4)
--------------------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           / /
--------------------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           Less than 0.1% (see Item 4)
--------------------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
--------------------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 2 of 10



-----------------------                                   ---------------------
CUSIP No. 60877T101                       13G             Page 3 of 10 Pages
-----------------------                                   ---------------------

--------------------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Management, LLC
--------------------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                   (a) /_/

                                                                   (b) /x/
--------------------------------------------------------------------------------
        3  SEC USE ONLY

--------------------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------------------------------------------------------------------
      NUMBER OF          5  SOLE VOTING POWER
       SHARES
    BENEFICIALLY            0
        OWNED        -----------------------------------------------------------
         BY              6  SHARED VOTING POWER
        EACH
      REPORTING             12,800 (see Item 4)
       PERSON        -----------------------------------------------------------
        WITH             7  SOLE DISPOSITIVE POWER

                            0
                     -----------------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            12,800 (see Item 4)
--------------------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           12,800 (see Item 4)
--------------------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           / /
--------------------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           Less than 0.1% (see Item 4)
--------------------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
--------------------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 3 of 10



-----------------------                                   ---------------------
CUSIP No. 60877T101                       13G             Page 4 of 10 Pages
-----------------------                                   ---------------------

--------------------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Sigma Capital Management, LLC
--------------------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                     (a) /_/

                                                                     (b) /x/
--------------------------------------------------------------------------------
        3  SEC USE ONLY

--------------------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------------------------------------------------------------------
      NUMBER OF          5  SOLE VOTING POWER
       SHARES
    BENEFICIALLY            0
        OWNED        -----------------------------------------------------------
         BY              6  SHARED VOTING POWER
        EACH
      REPORTING             60,324 (see Item 4)
       PERSON        -----------------------------------------------------------
        WITH             7  SOLE DISPOSITIVE POWER

                            0
                     -----------------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            60,324 (see Item 4)
--------------------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           60,324 (see Item 4)
--------------------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           / /
--------------------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0.2% (see Item 4)
--------------------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
--------------------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 4 of 10




-----------------------                                   ---------------------
CUSIP No. 60877T101                       13G             Page 5 of 10 Pages
-----------------------                                   ---------------------

--------------------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Steven A. Cohen
--------------------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                       (a) /_/

                                                                       (b) /x/
--------------------------------------------------------------------------------
        3  SEC USE ONLY

--------------------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
--------------------------------------------------------------------------------
      NUMBER OF          5  SOLE VOTING POWER
       SHARES
    BENEFICIALLY            0
        OWNED        -----------------------------------------------------------
         BY              6  SHARED VOTING POWER
        EACH
      REPORTING             73,124 (see Item 4)
       PERSON        -----------------------------------------------------------
        WITH             7  SOLE DISPOSITIVE POWER

                            0
                     -----------------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            73,124 (see Item 4)
--------------------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           73,124 (see Item 4)
--------------------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           / /
--------------------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0.2% (see Item 4)
--------------------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           IN
--------------------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 5 of 10




ITEM 1(a)        NAME OF ISSUER:

                 Momenta Pharmaceuticals, Inc.

ITEM 1(b)        ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

                 675 West Kendall Street
                 Cambridge, MA 02142

ITEMS 2(a)       NAME OF PERSON FILING:

                 This statement is filed by: (i) S.A.C. Capital Advisors, LLC,
                 ("SAC Capital Advisors") with respect to shares of common
                 stock, $0.0001 par value per share ("Shares") of the Issuer
                 beneficially owned by and S.A.C. MultiQuant Fund, LLC ("SAC
                 MultiQuant"); (ii) S.A.C. Capital Management, LLC, ("SAC
                 Capital Management") with respect to Shares beneficially owned
                 by SAC MultiQuant; (iii) Sigma Capital Management, LLC ("Sigma
                 Capital Management") with respect to Shares beneficially owned
                 by Sigma Capital Associates, LLC ("Sigma Capital Associates");
                 and (iv) Steven A. Cohen with respect to Shares beneficially
                 owned by SAC Capital Advisors, SAC Capital Management, SAC
                 MultiQuant, Sigma Capital Management and Sigma Capital
                 Associates.

ITEM 2(b)        ADDRESS OF PRINCIPAL BUSINESS OFFICE:

                 The address of the principal business office of (i) SAC Capital
                 Advisors and Mr. Cohen is 72 Cummings Point Road, Stamford,
                 Connecticut 06902 and (ii) SAC Capital Management and Sigma
                 Capital Management is 540 Madison Avenue, New York, New York
                 10022.

ITEM 2(c)        CITIZENSHIP:

                 SAC Capital Advisors, SAC Capital Management and Sigma Capital
                 Management are Delaware limited liability companies. Mr. Cohen
                 is a United States citizen.

ITEM 2(d)        TITLE OF CLASS OF SECURITIES:

                 Common Stock, par value $.0001 per share


                                  Page 6 of 10



ITEM 2(e)      CUSIP NUMBER:

               60877T101

ITEM 3         Not Applicable

ITEM 4         OWNERSHIP:

               As of the close of business on December 30,
2005:


               1. S.A.C. Capital Advisors, LLC
               (a) Amount beneficially owned: 12,800
               (b) Percent of class: Less than 0.1%
               (c)(i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 12,800
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 12,800

               2. S.A.C. Capital Management, LLC
               (a) Amount beneficially owned: 12,800
               (b) Percent of class: Less than 0.1%
               (c)(i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 12,800
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 12,800

               3. Sigma Capital Management, LLC
               (a) Amount beneficially owned: 60,324
               (b) Percent of class: 0.2%
               (c)(i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 60,324
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 60,324

               4. Steven A. Cohen
               (a) Amount beneficially owned: 73,124
               (b) Percent of class: 0.2%
               (c)(i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 73,124
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 73,124

                                  Page 7 of 10



                 SAC Capital Advisors, SAC Capital Management, Sigma Capital
                 Management, and Mr. Cohen own directly no Shares. Pursuant to
                 investment agreements, each of SAC Capital Advisors and SAC
                 Capital Management share all investment and voting power with
                 respect to the securities held by SAC MultiQuant. Pursuant to
                 an investment management agreement, Sigma Capital Management
                 maintains investment and voting power with respect to the
                 securities held by Sigma Capital Associates. Mr. Cohen controls
                 each of SAC Capital Advisors, SAC Capital Management and Sigma
                 Capital Management. By reason of the provisions of Rule 13d-3
                 of the Securities Exchange Act of 1934, as amended, each of (i)
                 SAC Capital Advisors, SAC Capital Management and Mr. Cohen may
                 be deemed to own beneficially 12,800 Shares (constituting
                 approximately less than 0.1% of the Shares outstanding) and
                 (ii) Sigma Capital Management and Mr. Cohen may be deemed to
                 own beneficially 60,324 Shares (constituting approximately 0.2%
                 of the Shares outstanding). Each of SAC Capital Advisors, SAC
                 Capital Management, Sigma Capital Management and Mr. Cohen
                 disclaim beneficial ownership of any of the securities covered
                 by this statement.

ITEM 5           OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

                 If this statement is being filed to report the fact that as of
                 the date hereof the reporting person has ceased to be the
                 beneficial owner of more than five percent of the class of
                 securities, check the following. /X/

ITEM 6           OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
                 PERSON:

                 Not Applicable

ITEM 7           IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
                 ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
                 HOLDING COMPANY:

                 Not Applicable


                                  Page 8 of 10


ITEM 8           IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

                 Not Applicable

ITEM 9           NOTICE OF DISSOLUTION OF GROUP:

                 Not Applicable

ITEM 10                    CERTIFICATION:

         By signing below the signatory certifies that, to the best of his
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.




                                  Page 9 of 10



                                    SIGNATURE

         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Dated:  February 14, 2006


S.A.C. CAPITAL ADVISORS, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


S.A.C. CAPITAL MANAGEMENT, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


SIGMA CAPITAL MANAGEMENT, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


STEVEN A. COHEN


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


                                  Page 10 of 10