CVTX CV Therapeutics (MM)

CV Therapeutics (Nasdaq: CVTX) Rated HOLD by Independent Researcher White Mountain Capital NANUET, N.Y., Oct. 29 /PRNewswire/ -- White Mountain Capital, a provider of independent research on select biotechnology companies, today initiated coverage on CV Therapeutics with a HOLD rating. "CV Therapeutics has a solid late-stage clinical pipeline, and an experienced, creative management team," said Oren Levy, Ph.D., M.D., Director of Biotechnology Research for White Mountain Capital. "However, the FDA's pending decision on the ranolazine application is the major arbiter of the company's near-term success and this issue is simply too close to call." According to Levy, ranolazine (trade name "Ranexa"), CV Therapeutics' lead clinical candidate for the treatment of angina, has had a tumultuous history since the drug was submitted for review in December of 2002. An advisory committee meeting, initially scheduled for this September, was unexpectedly cancelled. Furthermore, there have been some concerns related to QTc prolongation, a potentially serious side effect that has led to usage restrictions or outright rejection of several otherwise promising therapies. "While Ranexa has established efficacy, these QTc concerns may lead to a recommendation for periodic EKG monitoring or even a limitation to patients inadequately controlled by first line agents. Though we believe that ranolazine will ultimately gain approval, outright rejection is possible and would be devastating to the company," he said. For a copy of the report, call toll-free 866-833-5300 during market hours. For more White Mountain Capital research titles, visit http://www.whitemountaincapital.com/. About White Mountain Capital White Mountain Capital is a full-service broker-dealer in New York. Through its Biotechnology Research Department, the firm issues independent research on select biotech companies. The department's director, Oren Levy, M.D., Ph.D., is completing his residency at Cornell Medical Center, after earning his Ph.D. in neuroscience from Emory University, where he earned numerous scholarships and research awards. Dr. Levy employs a proprietary research methodology whereby ratings are based strongly on the viability and medical necessity of companies' pipeline projects. CRD #104123. DATASOURCE: White Mountain Capital CONTACT: Renee Luchkiw of White Mountain Capital, +1-845-623-5959, Web site: http://www.whitemountaincapital.com/

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