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Biotech / Medical : CVTX - CV Therapeutics, Inc.
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From: mopgcw1/30/2006 12:00:49 PM
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m-star: CV Therapeutics CVTX announced Friday that the Food and Drug Administration has approved its angina drug Ranexa, and we will increase our fair value estimate as a result. We had adjusted our previous expectations to take into consideration the probability of approval, and we are now fully assuming the product will be marketed in the United States by the end of the first quarter. The FDA approved Ranexa for patients who cannot control their angina with current treatments, a population of more than 1 million people in the United States. While this represents a significant opportunity for CV, the company continues to work toward gaining approval for a wider population. However, we are skeptical that Ranexa will be approved for all angina patients anytime soon, given the severity of the side effects the drug exhibited in clinical trials.
Heather Brilliant
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