Cardiome -- CRME Message Board

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Biotech / Medical : Cardiome -- CRME

CRME 2.330

-2.1%

May 16 5:00 PM EST

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From: Ian@SI	11/12/2007 2:22:50 PM
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globe and mail commenting on Canaccord Adams speculation... ++++++++++++++ Hoping for a blockbuster Leonard Zehr Look for takeover speculation in Cardiome Pharma to heat up soon, with mid-stage clinical trial results in the current quarter for its heart drug Vernakalant and potential U.S. Food and Drug Administration approval in January for an IV hospital version of the drug. Reviewing data from transactions over the past two years, Canaccord Adams suggested a take-out range for Cardiome between $26 and $31 a share is possible. The stock closed at $11.36 Friday on the Toronto Stock Exchange. Analyst Karl Keegan wrote that Vernakalant makes Cardiome an "exciting stock, irrespective of M&A speculation." Astellas Pharma owns the U.S. rights for the IV version of the drug, while Cardiome owns the rights in the rest of the world. The pill version, long touted as a potential blockbuster money maker, has not been partnered. Mr. Keegan said that the "only way for a partner to gain control of oral Vernakalant would be to purchase Cardiome outright." © 2007 The Globe and Mail

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