Medicines Co. (MDCO): A High Bar Could Lead to Ph3 Trials Despite Ending Early - Jefferies
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Jefferies analyst, Biren Amin, reiterated his Buy rating on shares of The Medicines Company (NASDAQ: MDCO) after reviewing the first 40 pts of the MILANO-PILOT investigating the MDCO-216 which showed that the pre-defined, upper stat boundary for efficacy was not met, and the summary data at this time were “inconclusive.” MDCO had not disclosed the bar for stopping the trial early, but the analyst suspects that it was a high bar.
He is awaiting the final analysis at AHA in Nov, and if it can show a >1% decrease in % atheroma volume at wk 5, it could support moving forward to PIII trials. There is no change to the price target of $43.
Shares of The Medicines Company closed at $40.14 yesterday.
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