Positive Results on MDCO's Cangrelor

The Medicines Company (MDCO - Analyst Report) recently received good news with the company announcing positive results on its phase III candidate, cangrelor. Cangrelor is being developed for the prevention of platelet activation and aggregation that leads to thrombosis in the acute care setting, including in patients undergoing percutaneous coronary intervention (PCI).

As compared to Bristol-Myers Squibb / Sanofi’s (BMY - Analyst Report)/(SNY - Analyst Report) Plavix (clopidogrel), cangrelor showed a statistically significant improvement in the CHAMPION PHOENIX study. Safety results were same as seen in prior trials. Cangrelor is quick in action and instantly reversible and thus it is expected to play an important role in patients undergoing PCI and those who need to discontinue oral P2Y12 inhibitors ahead of surgery. The company intends to submit data from the CHAMPION PHOENIX and BRIDGE studies and seek marketing approval in the US and EU this year.

Our Take

We are encouraged by The Medicines Company’s progress with its pipeline. This is the second positive development on the pipeline front at The Medicines Company. A few weeks back, the company had announced positive results on its phase III antibiotic candidate, oritavancin. Oritavancin was being evaluated in the phase III SOLO-1 study for the treatment of acute bacterial skin and skin structure infections (ABSSSI) caused by susceptible gram-positive bacteria.

With The Medicines Company reporting positive results from the SOLO-1 study, the company is now planning to complete enrolment for the SOLO-2 study in the first half of 2013. Results should be out shortly thereafter. Both studies will be used to support regulatory filings in the US and the EU.

Some stocks in the pharma sector that currently carry a Zacks Rank #1 (Strong Buy) are Agenus Inc. (AGEN - Snapshot Report) and Repligen Corporation (RGEN).