Topic: How To Invest

Hi Pat, what is your opinion of Cardiome Pharma?

Article Excerpt

Cardiome Pharma, $4.78, symbol COM on Toronto (Shares outstanding: 63.9 million; Market cap: $305.2 million), is a Vancouver-based company that develops cardiovascular (heart) drugs. Cardiome has two late-stage clinical-drug programs. Both focus on atrial fibrillation, an abnormal heart rhythm that lowers the heart’s pumping capacity. Breathlessness and fatigue are immediate symptoms. Over the longer term, patients face a higher risk of both stroke and congestive heart failure. Vernakalant IV is the intravenous form of a drug Cardiome is developing for the treatment of acute atrial fibrillation. Cardiome’s co-development partner, Illinois-based Astellas Pharma, is funding the research and development. Astellas holds the North American license to market Vernakalant IV. Cardiome recently announced that it had signed an agreement with Merck & Co. to develop and commercialize Vernakalant IV. This agreement gives Merck exclusive rights to the drug outside of the U.S., Canada and Mexico. Astellas submitted a new drug application to the U.S. Food and Drug Administration (FDA) for Vernakalant IV in December…