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Biotech / Medical : CVTX - CV Therapeutics, Inc.
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To: mopgcw who wrote (125)12/8/2003 12:14:48 PM
From: tom pope  Read Replies (2) of 411
 
A little bit dated:

10:53 ET CV Therapeutics cut to Neutral at First Albany (CVTX) 13.05 -3.71: -- Update -- First Albany downgrades to Neutral from Buy and cuts their target to $13 from $43 following the FDA briefing documents that implied that it is unlikely that Ranexa can be approved without a substantial new clinical trial. In the documents, the FDA appears to view Ranexa as modestly effective, but notes significant safety risks that are not offset by the product's demonstrated benefits. Firm believes that the stock could trade as low as the $10-$13 level, but not to the $5.81 net cash value since the drug has been deemed "approvable".
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