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$11.49 -0.01 (-0.09%)
7/24/2008 10:10 AM

Cardiome Pharma Corp. (USA) (CRME)

CAPS Rating:
**

Life sciences company focused on developing proprietary drugs to treat or prevent cardiovascular diseases. Current efforts are focused on the treatment of atrial arrhythmias and congestive heart failure.

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What the Community Thinks

Total Members

85 Outperforms
19 Underperforms
 

All-Stars

29 Outperforms
10 Underperforms
 

Wall Street

2 Outperforms
0 Underperforms
 

Members bullish on CRME are also bullish on:

Members bearish on CRME are also bearish on:

Ticker Tags

Drug Manufacturers - Other (105), Micro Cap (4824)
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Cardiome Pharma Corp. (USA) At A Glance

Current Price: $11.49
Last Trade Time: 7/24/2008 10:10 AM
Open: $11.57
Previous Close: $11.50
Daily Range: $11.36 - $11.74
52-Week Range: $5.78 - $12.62
Volume: 132,069
Market Cap: $733.24M
P/E Ratio: 0.00
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Stock Trends

CRME VS S&P 500 (SPY)

CRME 12 month chart vs. S&P

News & Discussion Boards

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Top Bull Pitch

Recs

1

Cardiome Pharma Corp. (USA) (CRME)

Avatar dividendsrg8t85 (51.15) Submitted: 1/08/08 3:56 PM

Vernakalant (IV) is almost a lock for FDA approval. It is the first drug of its type to hit the market in eight years.





The death in the study had NOTHING to do with the drug and if people, including analysts, would read the entire report instead of the front page they would...More

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Top Bear Pitch

Recs

1

Cardiome Pharma Corp. (USA) (CRME)

Avatar snark43 (< 20) Submitted: 12/08/07 5:28 AM

A one drug company with a negative FDA panel recomendation = NO approval and a plummeting price
The Phase III had a fatal incident and and was not even conducted with the most at risk (and most probable potential customer). In light of the FDA's recent reticence to approve Anything, this dog is cer...More

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Recs

0

 (CRME)

Avatar Vavoom11 (99.74) Submitted: 7/14/08 11:43 AM : Underperform Start Price: $10.67 CRME Score: -4.63

short the pop!

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Recs

0

 (CRME)

Avatar cashsage (< 20) Submitted: 7/03/08 5:01 PM : Underperform Start Price: $8.65 CRME Score: -32.73

CRME is one of the companies with a too high valuation compared to its sales potential.

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Recs

0

 (CRME)

Avatar JonAtkins57 (24.49) Submitted: 6/30/08 1:50 PM : Underperform Start Price: $8.86 CRME Score: -30.51

Market Cap > 100M and < 1B
Gross Margin % < -10
Net Profit Margin % < -10
EPS < -1

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Recs

0

 (CRME)

Avatar biovestor (37.96) Submitted: 6/30/08 10:26 AM : Outperform Start Price: $8.63 CRME Score: 33.99

Still waiting on FDA ruling for Kynapid, which should be approved plus oral form of the drug with more commercial potential and continued clinical development to move the shares higher.

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Recs

0

 (CRME)

Avatar WhenOppsKnock (< 20) Submitted: 4/16/08 10:22 PM : Outperform Start Price: $7.10 CRME Score: 68.83

The IV version of its anti-fib heart drug, Kynapid (vernakalant hydrochloride), was recommended for approval with a 6-2 vote by an FDA advisory committee in December 2007. No action letter was delivered by the FDA to either Cardiome or its partner, Astellas Pharmaceuticals by the expected action date of January 19, 2008. However the FDA had requested more time to review the NDA. It has been assumed that 60 days (previously announced by the FDA as the new expected delay for the FDA on certain non-critical drugs) would be enough time to determine the approval status of the drug. However, at 60 days, no new news has been announced either by the FDA or by Cardiome or by its partner Astellas.





Earlier in the week, Amgen announced that the FDA was pushing back its review of romiplostim by three months -- from an April 23 PDUFA date to July 23. The FDA has been constantly delaying its review of nearly all drugs in the first quarter, so Amgen had probably already guessed that some sort of announcement like this was coming.





Therefore, assuming a possible 3-month delay by the FDA is to be expected for a drug approval beyond the standard approval timeframe, the time for a decision from the FDA on Kynapid nears. Assuming Kynapid will be reviewed timely by the FDA within a 90-day delay window, that would mean that the company should hear from the FDA by Saturday, April 19, 2008 (90th day), or by Monday, April 21, 2008 (92 days, or exactly 3 months).





Therefore, an announcement is forthcoming either Thurday or Friday this week, or Monday or Tuesday next week. Very good probability of an approval of the $800 million to $1.3 billion per year IV version of the drug. Cardiome holds all rights to produce this drug outside of the US and is partnered with Astellas in the US. The oral version of the drug, is wholly owned by Cardiome within and outside of the US and Canada, and is in late Stage 2b trials. The market for the oral version of the drug is much greater ($1.3 billion - $1.8 billion per year). Recent early results of the Stage 3b drug trials are very positive.





And Canadian approval could come any day now (early May 2008). Lastly, the company says it is up for possibly sale or partnership as it proceeds with late-stage trials of its oral version of the anti-fib heart drug.


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Wall Street

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Pick
Member NameMember RatingStart
Date
CallTime FrameStart
Price
Stock
Gain
S&P
Gain
ScorePitch
TrackWachovia 79.92 03/20/08 Outperform NS $8.10+42.69%-1.62%+44.31
TrackBearStearns 90.95 02/23/07 Outperform NS $11.50+0.50%-12.21%+12.71

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