The Medicines Company (MDCO - Analyst Report) recently presented full results on its phase III candidate, Cangrelor, from the phase III double-blind, CHAMPION PHOENIX study. Cangrelor was compared to oral clopidogrel in patients undergoing percutaneous coronary intervention (PCI) in the study. We note that clopidogrel is marketed by Bristol-Myers Squibb Company / Sanofi (BMY - Analyst Report)/(SNY - Analyst Report) under the brand name Plavix.
Results showed that cangrelor lowered the chances of the occurrence of ischemic events by 22% compared to clopidogrel in 48 hours. The Medicines Company also said that the chances of the occurrence of stent thrombosis, the secondary endpoint, was lowered by 38% in the cangrelor arm.
The findings were consistent across different groups and sub-groups of patients. The safety findings revealed that adverse events in both treatment groups were found to be similar. However, cases of transient dyspnea were more in the cangrelor arm.
The Medicines Company anticipates filing a new drug application (NDA) to the US Food and Drug Administration (FDA) in the second quarter of this year. The Medicines Company also expects to file for EU approval in the second half of 2013.
We remind investors that The Medicines Company is developing cangrelor for the prevention of platelet activation and aggregation that leads to thrombosis in the acute care setting, including patients undergoing PCI.
We are positive on The Medicines Company’s progress with its pipeline. Cangrelor is quick in action and instantly reversible. The candidate is thus expected to play an important role in patients undergoing PCI and those who need to discontinue oral P2Y12 inhibitors ahead of surgery.
The Medicines Company carries a Zacks Rank #3 (Hold). However, other pharma stocks like Avanir Pharmaceuticals, Inc. (AVNR - Analyst Report) carry a Zacks Rank #2 (Buy).