Bear Stearns upgrades CV Therapeutics (CVTX) to peer perform.
Analyst Akhtar Samad says CV Therapeutics said Phase III ERICA study of Ranexa met its primary endpoint of statistically significant reduction in angina frequency in patients taking maximally prescribed dose of amlodipine.
He notes patients entering ERICA trial had aproximately 5.5 angina events per week, with placebo arm demonstrating 3.2 events per week. He says patients administered 1000 mg Ranexa BID exhibited a 0.4 angina event per week reduction from placebo, or an about 12% to 13% benefit.
Management notes improvement correlated to aproximately 30% to 33% improvement in quality of life measure.