Medicines Co. (MDCO) Recovers; Evercore ISI's Raffat Says Data 'Looks Very Consistent and Durable'
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Medicines Co. (NASDAQ: MDCO) has recovered sharply off intra-day lows as Ph 2 PCSk9 data presented at AHA. Shares are currently down 2.8% after trading down 8% earlier.
Evercore ISI's Umer Raffat said the data "looks very consistent and durable through day 180 (pts getting single injection had -43% LDL reduction at day 180)."
He notes he is getting several questions on 1 death in the 500 mg arm. He said it was a patient with extensive CAD history and multiple CV events in the past (note that exclusion criteria only selected out pts with MACE event within last 6 months). Also, 1 case of ALT>3ULN occurred in a patient escalating dose of statin.
Raffat notes the The discussant, Dr. Nordestgaard's review of data was very positive on the Ph 2 trial. "I would like to congratulate the investigators on this very very positive trial," Nordestgaard said.
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