CORR und CVTX - (k)ein Vergleich - 500 Beiträge pro Seite

[IWA Japan]

CVTX war hier schon häufiger Gegenstand von Diskussionen.
Ein anderes Unternehmen, dass sich genauso wie CVTX im Bereich der Herzerkrankungen engangiert ist CORR - Cor Therapeutics.

Im Gegensatz zu CVTX hat CORR bereits ein Produkt zur Marktreife gebracht - INTEGRILIN:
Das Präparat, welches am 18.5.98 die Zulassung seitens der FDA erhielt, wird weltweit zusammen mit Schering-Plough vertrieben.
Angewendet wird Integrilin als sog. Hemmstoff der Thrombozyten-Aggregation bei der Behandlung von drohendem Herzinfarkt.
In den USA fallen jährlich 1 Mio Menschen unter diesen Anwendungsbereich.

Hier die weitere Produktpipeline:
http://www.corr.com/pipeline/content.htm
Interessant ist hier zum einen die Phase II-Studie für ein weiteres Anwendungsgebiet des Präparats Integrilin, nämlich Acute Myocardial Infarction ("AMI“), Wer kann dies bitte mal auf Deutsch sagen?

Des einzig wirklich andere Präparat außer Integrilin heißt Cromafiban. Diese ist in Phase II der klinischen Testphase und wird bei der Behandlung von Menschen verwendet, die einen Herz- oder Schlaganfall erlitten haben.

Analysten bewerten CORR durchweg positiv, z.B. bei Yahoo! Finance 1x strong buy und 6x buy.
Auch wenn ihr mal die News dort von CORR anschaut, lassen sich einige Analysten und Fondmanager finden, die CORR empfehlen.

Dennoch sollte hier mal der Vergleich zu CVTX gezogen werden.

Hier schon wieder deren Produktpipeline:


CVTX hat 3 völlig verschiedene Präparate, davon 1 im fortgeschrittenem Phase II-Stadium (CVT-124) und 2 Phase III- Präparate ( für CVT-510 wurde ja jüngst die Phase III angekündigt).

Die Marktkapitalisierung von CVTX beträgt aktuell 574 Mio $.


CORR hingegen nur 2 Produkte:
Integrilin zugelassen und in Phase II für ein weiteres Anwendungsgebiet, was unter Strich „2 Präparate“ ergibt, ansonsten noch ein Phase II Medikament.

Die Marktkapitalisierung von CORR beträgt aktuell 1990 Mio $.

CORR hat die höhere Abhängigkeit von einem Produkt zu CVTX, aber unter Strich „rund“ dieselbe Pipeline, wenn man von der bereits erfolgten Marktzulassung bei CORR mal absieht.


Für die Bewertungsrelation zwischen beiden Untermehmen muss man mit dem Umsatzpotential der zugelassenen bzw. in der Entwicklung sich befindeten Medikamente rechnen:

Hier mal Planzahlen für Integrilin in Mio $(sind aus dem Aktionär vom August ´99)
1999 68
2000 180
2001 340

Um den Vergleich abschließen zu können, bräuchte man mal Schätzungen für das Marktpotenzial aller genannten Medikamente. Kann diese jemand liefern?

Grundsätzlich erscheint es aber so:
Schaut man sich die Produkte und die Produktpipeline beider Unternemhen mal an, erscheint es mir etwas unverständlich, warum CORR vom MArkt 3,5 mal so hoch bewertet wird wie CVTX!

Ich habe mal den Satz geäußert, CORR steht jetzt dort, wo CVTX hin geht.
Dass dieser Satz zutrifft, ist jedenfalls für mich gut vorstellbar.

Meinungen?

[IWA Japan]

Führt euch obiges mal vor Augen und ihr werdet feststellen , dass CVTX deutlich unterbewertet ist imVgl. zu CORR!

[IWA Japan]

@alle
Wollte hier eingetlich mal eine Diskussion über CORR in Gang bringen, besonders im Vergleich zu CVTX, da
1.hier sowohl einige CVTX als auch CORR-Freunde vrsammelt zu sein scheinen
2. es noch keine richtigen Infos zu CORR hier auf dem Board gab
3. ich selbst schon an beiden Companies interssiert war!

[IWA Japan]

Nach dem hier´s mal wieder keinen interssiert, hier ein paar Impressionen zu CORR von

Solomon Smith Barney Upgrades Corr today
--SUMMARY:--Cor Therapeutics--Biotechnology *We are upgrading CORR from V2 to V1. Yesterday, the stock was under pressure afteran analyst from another firm said that the 30-day data from the ESPRIT trial of Integrilin was quietly released at a low-profile meeting (Society of Cardiac Angiography and Intervention) and that it did not compare favorably with Reopro in the EPISTENT trial. *However, the 30-day data was announced a while ago - see our CORR note of 4/19/2000, which contains the data. *Secondly, in the absence of a head to head study, a comparison of Integrilin and Reopro is not valid - pt characteristics were different and the standard of care has improved since EPISTENT. *We believe that Integrilin will continue to capture market share based on comparable efficacy and significantly lower cost. *Our U.S. Integrilin sales ests are $155M, $250M and $350M in 2000-2002.



Great news - here`s one hospital`s experience with increased usage of Integrelin. The major teaching hospital that I work for located in PA has recently started the shift from ReoPro to Integrelin. We do a little more than 2000 angioplasties annually, about 40% of which use a 2b3a inhibitor based on my hospital`s experience. Just my opinion, but i think the following experince supports the increased integrelin sales and is the primary, simple reason for CORR`s recent run up.

Starting a few weeks ago, after the ESPRIT study was released and after our pharmacists and cardiologists completed their research, we`ve shifted from nearly 100% ReoPro to 80% Reopro and 20% Integrelin. That % split is for the time being. It is expected that the shift to integrelin will accelerate as experience builds and further demonstrates it`s effectiveness. Our medical staff is generally considered to be conservative so this change in my mind is a big thing.

All hospitals are under severe cost pressures and I would speculate that other hospitals, under even greater pressure than the hospital I work for, will be changing to Integrelin at an even faster rate. For contect and balance, I will point out that the cardiologists are mixed on integrelin. The division chief and chairman of medicine believe there`s little/no difference between Reopro and Integrelin, but other staff cardiologists aren`t fully convinced and seem to prefer Reopro. For now both drugs will be available for use. Aggrastat is on the radar screen but for now seems to be a distant 3rd. One last note, it was mentioned that there could be an expansion of the total usage of 2b3a inhibitors with the introduction of Integrelin in angioplasty.


zu CVTX von

In certain circumstances, it becomes apparent that certain patients are showing marked improvement. Also, after the trial is over for the patients, some choose to stay on in an open label study, where all patients get the drug. Not sure how PIII is being conducted for Ranolazine but would not be surprised if this is the case. Also, Ranolazine is big, but I think the market is becoming aware that CVT-510 has the potential to be big in a large market.

--------------------------------------------------------------------------------

I suppose completion in 1st Quarter 2001 is probably most likely. I don`t think it will be delayed like it was with the first Phase 3 trial.

With the first Phase 3 trial, they ran behind schedule partly because I think it took awhile to get enough patients to participate. However, in that case, patients had to be removed from ALL current therapies before they could be placed on various dosages of ranolazine / placebo.

In this new trial, it will be tested against other treatments such as CCB`s and BB`s I believe. Therefore, they probably will be able to get more patients to participate (more so if the patients have heard about the results of the first Phase 3 trial...dag nab it! Sign me up! haha)

[IWA Japan]

zu CVTX: In May 1999, CVT signed an agreement with Innovex to commercialize ranolazine in the US.
zu diesem Deal
CV Therapeutics and Innovex Commercialization Agreement for Ranolazine Selected as Breakthrough Alliance of 1999

PALO ALTO, Calif. and RESEARCH TRIANGLE PARK, N.C., May 8 /PRNewswire/ --
CV Therapeutics, Inc. (Nasdaq: CVTX) and Innovex, a business unit of Quintiles Transnational Corp. (Nasdaq: QTRN), were honored with the Breakthrough Alliance Award of 1999 for their commercialization agreement to market ranolazine, CVT`s lead product candidate. The award, sponsored by Recombinant Capital and International Biomedicine Partners and voted on by pharmaceutical and biotechnology executives, was presented at the Allicense 2000 conference, in Basel, Switzerland.

[IWA Japan]

Hat wirklich keiner Informationen über eventuelle UMsatzerwartungen der anderen Medikamente?
Mehr also oben konnte ich auch nicht finden

[IWA Japan]

[puhvogel]

acute myocardial.infarction=akuter Herzinfarkt
Bei Ranzoline habe ich was von einem Marktpotential von 500 Mio $ gelesen.
Kam mir selber etwas wenig vor, aber ich hab mich da noch nicht eingearbeitet.
Ich kann mir selber in den A.... treten, weil im September(?) habe ich die Meldung nur sehr flüchtig gelesen und die wahre Bedeutung nicht erkannt.
Der Puhvogel

[puhvogel]

Bevor ich korrigiert werde: 8-)
Ich meine natürlich Ranozaline

[IWA Japan]

biofuture, I agree that CORR has an
by: equitytime 7/18/00 9:02 am
Msg: 3044 of 3045
excellent pipeline and that it MAY have very good long term prospects. Trouble is a lot of that is speculation. Granted, it has a great drug on the market now; and that cardio drugs exist in a very large market, that doesn`t mean that CORR is going to capture all of it. We all know that the pharmaceutical market is highly competitive. And just because there are a lot of biotechs with high valuations NOW doesn`t mean that they will have high valuations a year or so (or even a few months) from now. This is why I took some profits. I just don`t think CORR is going to double in value in the near term, and I`m concerned that the stock is going to correct. I think that I can earn more money elsewhere, and will be able to buy this stock back at the present price or lower sometime in the future.

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[IWA Japan]

[IWA Japan]

Marktwert in Mrd $

CORR 2,625
CVTX 1,463

[IWA Japan]

!

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[IWA Japan]

also COOR glänt nicht gerade mit überagenden News, ganz im Gegensatz zu CVTX:

CV Therapeutics and Fujisawa Healthcare Announce Collaboration on CVT-3146 For Cardiac Imaging
CVT Partners With Market Leader in Pharmacologic Cardiac Imaging
PALO ALTO, Calif. and DEERFIELD, Ill., July 11 /PRNewswire/ -- CV Therapeutics, Inc. (Nasdaq: CVTX - news) and Fujisawa Healthcare, Inc. (FHI) announced today a collaboration to develop and market second generation pharmacologic cardiac stress agents. Under this agreement FHI receives exclusive North American rights to CVT-3146, a short acting selective A2A adenosine receptor agonist, and a backup compound. CVT and FHI will collaborate on the development of CVT-3146. Leveraging the strengths of both organizations, CVT will be responsible for managing the CVT-3146 clinical development program. FHI will be responsible for selling and marketing CVT-3146 in North America. In the U.S. FHI currently markets Adenoscan® (adenosine), the market leading pharmacologic cardiac stress-imaging agent.

CVT will receive $10.0 million from FHI, which consists of a cash payment, the prepayment of a development milestone, and the purchase of CVT common stock at a premium. CVT may receive up to an additional $24.0 million in cash based upon development and regulatory milestones. FHI will reimburse CVT for 75% of the development costs, and if approved by the FDA, CVT will receive a royalty based on product sales of CVT-3146 and may receive a royalty on other products.

``We are pleased to collaborate with the market leader in cardiac perfusion imaging,`` said Louis G. Lange, M.D., Ph.D., Chairman and Chief Executive Officer of CV Therapeutics. ``The structure of this collaboration reflects our leadership in adenosine technology and cardiovascular drug discovery. In addition, this collaboration will allow us to focus our financial resources on our two late stage clinical programs: ranolazine and CVT-510.``

``Our partnership with CV Therapeutics and the development of CVT-3146 represents Fujisawa`s continued commitment to the cardiovascular therapeutic area,`` said Noboru Maeda, Chairman and Chief Executive Officer at Fujisawa Healthcare, Inc. ``CVT-3146 allows us to expand our current portfolio of cardiovascular products available to clinicians.``

About cardiac perfusion imaging studies

Cardiac perfusion imaging studies are used for the detection and characterization of coronary artery disease by identifying areas of insufficient blood flow in the heart. During these tests, blood flow is measured when the patient`s heart is at rest and when it is working. Relatively low blood flow when the heart is working is indicative of which areas of the heart may be diseased.

To stimulate the work of the heart sufficiently to perform the test many patients exercise on a treadmill. However, more than a third of the patients who take the test are unable to exercise adequately because of medical conditions such as peripheral vascular disease and arthritis. For these patients, a pharmacologic agent that temporarily increases the coronary blood flow is required to simulate the heart at work. In 1997, approximately 5.2 million cardiac perfusion imaging studies were performed in the US, of which 1.8 million were conducted using a pharmacologic agent.

Stimulation of the A2A adenosine receptor in the heart induces vasodilation and thus increases coronary blood flow. In animal studies, CVT-3146 has been shown to increase coronary blood flow without adversely affecting peripheral blood pressure.

Statements in this press release concerning the development and potential application of CVT-3146 and other compounds are forward-looking statements that involve risks and uncertainties, including, but not limited to, uncertainties related to CVT`s early stage of development and clinical trials. Actual results could differ materially. Factors that could cause or contribute to such differences are more fully discussed in CVT`s Annual Report on Form 10-K for the year ended December 31, 1999.

CV Therapeutics, Inc., headquartered in Palo Alto, CA, is a biopharmaceutical company focused on applying molecular cardiology to the discovery, development and commercialization of novel, small molecule drugs for the treatment of cardiovascular diseases. CVT is currently conducting clinical trials for two of its products. Ranolazine, the first in a new class of compounds known as partial fatty acid oxidation (pFOX) inhibitors for the potential treatment of angina, is in Phase III clinical trials. CVT-510, an A1 adenosine receptor agonist, for the potential treatment of atrial arrhythmias, is in Phase II clinical trials. For more information, please visit CV Therapeutics` web site at www.cvt.com.

Fujisawa Healthcare, Inc., headquartered in Deerfield, IL, develops, manufactures, and markets proprietary pharmaceutical products in the United States and abroad. Fujisawa Healthcare, Inc. is a subsidiary of Fujisawa Pharmaceutical Co., Ltd., based in Osaka, Japan. Fujisawa Pharmaceutical Co., Ltd., founded in 1894, is a leading pharmaceutical manufacturer and has international operations in North America, Europe, and Asia. Additional information on Fujisawa Healthcare, Inc. and its products can be found on the Company`s web site at www.fujisawa.com.

SOURCE: CV Therapeutics, Inc.

[IWA Japan]

noch zur Erinerung:

CV Therapeutics Selects CVT-3146 as Next Clinical Candidate
PALO ALTO, Calif., April 26 /PRNewswire/ -- CV Therapeutics, Inc. (Nasdaq: CVTX - news) announced today the selection of CVT-3146, a short acting selective A2A adenosine receptor agonist, as its next clinical candidate. CVT-3146 is being developed for the potential use as an adjunctive pharmacologic agent in cardiac perfusion imaging studies. In 1997, approximately 5.2 million cardiac perfusion imaging studies were performed in the U.S., of which 1.8 million were conducted using a pharmacologic agent.

[IWA Japan]

Our U.S. Integrilin sales ests are $155M, $250M and $350M in 2000-2002.

von Raging Bull zu CVTX

There are approximately 7.2 million stable angina patients in the US alone. At the 2000 annual meeting CVTX management stated they hoped to achieve a 5% market penetration (360,000 patients). They further indicated they would price the drug between $1 and $5 (probably $2) per day and lastly they were planning for 50% of revenues to drop to the bottom line. These numbers appear reasonable and achievable; revenues should be approximately $262 million. If you extend these numbers further it would appear that $130 million will drop to the bottom line. Allowing for a 25% share to Innovex, profit would be $97 million. Dividing by the number of current shares outstanding (they have mucho cash so future dilution should be minimal)18.25 million shares you will derive earnings per share of roughly $5.31. Since CVTX will be starting an earning growth ramp-up of significance a PE of 30 would be reasonable. This produces a price of $160 per share. This price should be reached within the next 18 to 24 months (3x current price). These assumptions are based upon: 1) the drug works, 2) the approximate numbers are achieved,and 3) assigns no value to their other products including CV510 for atrail arrhythmias which entered Ph III trails recently and does itself address large market in excess of 1 million patients in the US alone.

I hope this helps in your quest for knowledge about CVTX; their products, markets, and potential.

Good luck with your investments!




Randolazine wird die Phase III studien wohl bald abschließen, allerdings vergehen zur Marktzulassung noch 6 Monate und 6 weitere zur Markteinführung.

[IWA Japan]

in 2 JAhren macht CORR mnit INtegrilin 350 Mio $ Umsatz in den USA


CVTX macht konservativ geschätzt mit Randolazine in den USA 260 Mio$ Umsatz, was aber noch nicht im Jahre 2002 erreicht wird In Folge der erst 2001 erfolgten MArkteinführung.

zum Vergleich. Integrilin wurde 1998 zugelassen und erreicht 350 Mio $ erst 4 (!) Jahre später.

Ich meine, den zeitlichen Faktor muss man hierbei deutlich berücksichtigen.
Schaut nur mal im Krebsbereich, wie gut IDPH läuft, die auch 1998 ihr erstes Präparat zugelassen bekamen und wie schlecht sich IMCL schlägt, weil hier noch keine Marktzulassungen vorliegen!

Auch unter der charttechnischen Situation, dass CORR gerade seinen Ausbruch über das ATH konsolidiert, wäre es zur Zeit fast angebrachter, CORR zu kaufen anstatt CVTX, da schon aufgrund des zeitlichen Faktors ein Aufschlag von 1,8 gerechtfertigt erscheint.

Auf der anderen Seite allerdings hat CVTX natürlich die besser strukturierte Pipeline mit mittlerweile 4 verschiedenen Präparaten und CORR eben nur 2 verschiedene.

Wiederum auf der anderen Seite hat aber nach heutigen Schätzungen Integrilin mehr Umsatzpotential als Randolazine, wenn man nur die USA betrachtet.

Wie man sieht, halten sich wohl Vor und Nachteile etwas diue WAAGE.
DEnnoch würde ich allein schon wegen des zeitlichen Faktors momentan wohl eher CORR bevorzugen.

Wer hat eine andre Meinung?

[gholzbauer]

In diesem Zusammenhang sollte man auch einen Blick auf Actelion werfen, schweizer Gesellschaft, WKN 936 767, siehe Der Aktionär 26/2000 vom 21. Juni, bei Kurs 571 SFR Marktkap. von 2,7 Mrd. SFR.
Entwickelt Bosentan und Tezosentan gegen akute bzw. chronische Herzschwäche (Herzinsuffizienz), beide in Phase III, Markteinführung Ende 2001 geplant, angeblich gute Verträglichkeit (welche Gesellschaft behauptet das nicht von ihren eigenen Medikamenten?), "Auf Grund des uns vorliegenden Zahlenmaterials prognostizieren wir für Bosentan und Tezosentan ein Umsatzpotenzial von mindestens einer Milliarde Franken", so Der Aktionär. Gemeint ist wohl für beide zusammen. Zusammenarbeit mit Genentech bei den beiden Produkten, bei anderen mit Johnson und Johnson, wieviel Actelion vom Umsatz erhält, wird nicht erwähnt, geschätzte Ergebnisse pro Aktie 2000: -5 SFR, 2001: "rasante Ergebniszuwächse", 2002: 6 SFR.

[IWA Japan]

keine Herzfans hier?

auch keine Lemminge von Förtsch?

[bandolin]

Hi IWA japan,

bin zum Teil schon seit 250E investiert. Leider gibt es hier seit Monaten kaum Resonanz für diese Aktie. Leider bin ich kein Mediziner, aus einem der Threads hier hab ich mir mal die Wirkungsweise der Medikamente besorgt.
Die Aktie läuft in schöner Regelmäßigkeit nach oben mit kurzen konsolidierungsphasen.
Heute stieg die Aktie in Franken auf bis zu 715.
Alle deutschen Broker zogen allerdings einen 10%-Anstieg nicht mal in der Taxe nach. Das Handelsvolumen ist meist ganz gering.
Sollte der auffallend hohe Kursanstieg auf neue Informationen über die Medikamente beruhen? Einen derartigen Anstieg mit Schlusskurs auf hohem Niveau gabs vorher nicht.

MFG
bandolin

[fuffi]

ich werde beide werte kaufen zu gleichen teilen und den wettlauf beobachten - daß ist sicherlich die beste, interessanteste und auch sicherste lösung.

[IWA Japan]

COR Therapeutics (Nasdaq: CORR - news)
2001 EPS: $0.83 from $0.57
Buy
Michael King, Jr., Biopharmaceuticals
"COR Therapeutics yesterday announced an exceptional second fiscal
quarter, led by robust sales of its lead product, Integrilin," said King.
"Strength was seen across the board; Integrilin is now the leading drug in
the platelet blocker market. We are increasing our fiscal year Integrilin
sales projection to $176 million from $162 million. In our view, COR
remains one of our top picks in the large cap therapeutics sector of the
biotech space and we believe the stock will continue to be driven by
strong sequential sales of Integrilin."

[IWA Japan]

Company Press Release
SOURCE: CV Therapeutics, Inc.
CV Therapeutics Amends Stockholder Rights Plan
PALO ALTO, Calif., July 21 /PRNewswire/ -- CV Therapeutics, Inc. (Nasdaq: CVTX - news) announced that its Board of Directors had approved amendments to its previously-approved Stockholder Rights Plan. The amendments approved by the Board included lowering the trigger percentage from a 20 percent ownership interest to a 15 percent ownership interest.

The Rights Plan, as amended, is designed to enable all CVT stockholders to realize the full value of their investment and to provide for fair and equal treatment for all stockholders in the event that an unsolicited attempt is made to acquire CVT. The Rights Plan, as amended, is intended as a means to guard against abusive takeover tactics and is not in response to any particular proposal.

The rights were distributable to CVT stockholders in February 1999 as a non-taxable dividend and expire in ten years from February 23, 1999, the Record Date. The rights are exercisable only if a person or group acquires 15 percent or more of CVT Common Stock or announces a tender offer of CVT`s Common Stock. If a person acquires 15 percent or more of CVT`s Common Stock, all rightsholders except the potential buyer are entitled to acquire CVT Common Stock at a discount. The effect is to discourage acquisitions of more than 15 percent of CVT`s Common Stock without negotiations with the CVT Board of Directors.

The rights trade with CVT`s Common Stock, unless and until they are separated upon the occurrence of certain future events. The rights distribution was not taxable to the stockholders, and the amendment of the Stockholder Rights Plan is similarly not taxable to the stockholders. CVT`s Board of Directors may terminate the Rights Plan, as amended, at any time or redeem the rights prior to the time a person acquires more than 15 percent of CVT Common Stock.

In addition to historical information, this press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to uncertainties related to the Company`s early stage of development. These factors are more fully discussed in the Company`s Annual Report on Form 10-K for the year ended December 31, 1999.

CV Therapeutics, Inc., headquartered in Palo Alto, CA, is a biopharmaceutical company focused on the application of molecular cardiology to the discovery, development and commercialization of novel, small molecule drugs for the treatment of cardiovascular diseases. CVT is currently conducting clinical trials for two of its products. Ranolazine, the first in a new class of compounds known as partial fatty acid oxidation (pFOX) inhibitors for the potential treatment of angina, is in Phase III clinical trials. CVT-510, an A1 adenosine receptor agonist, for the potential treatment of atrial arrhythmias, is in Phase II clinical trials. For more information, please visit CV Therapeutics` web site at www.cvt.com.

SOURCE: CV Therapeutics, Inc.

[IWA Japan]

SOURCE: CV Therapeutics, Inc.
CV Therapeutics Reports 2000 Second Quarter Financial Results
PALO ALTO, Calif., July 21 /PRNewswire/ -- CV Therapeutics, Inc. (Nasdaq: CVTX - news) announced today the results of operations for the second quarter ended June 30, 2000.

The Company reported a net loss of $7,383,000, or $0.40 per share, for the second quarter ended June 30, 2000, compared with a net loss of $5,365,000, or $0.45 per share, for the same quarter in 1999. For the six-month period ended June 30, 2000, the Company reported a net loss of $14,466,000, or $0.79 per share, compared with a net loss of $10,418,000, or $0.90 per share, for the same period in 1999. Total operating expenses in the second quarter of 2000 increased to approximately $10,931,000 from $5,650,000 in the second quarter of 1999. Total operating expenses in the six-month period ended June 30, 2000 increased to approximately $19,157,000 from $11,033,000 in the same period in 1999. The increases for both periods in 2000 compared to 1999 were primarily due to research and development expenses associated with the Company`s ranolazine and CVT-510 clinical programs.

At June 30, 2000, the Company had cash, cash equivalents and marketable securities of approximately $269,614,000, compared to approximately $91,257,000 at December 31, 1999. The increase was the result of the Company`s convertible notes offering completed in March 2000 that raised gross proceeds of $196,250,000.

``We continue to create value for our shareholders such as our recently announced collaboration with Fujisawa Healthcare,`` said Louis G. Lange, M.D., Ph.D., Chairman and CEO of CV Therapeutics. ``Our sound cash balance will assist us in moving ranolazine and CVT-510 through the clinic and towards commercialization.``

Statements in this press release concerning the development and potential therapeutic application of our drug candidates are forward-looking statements that involve risks and uncertainties, including, but not limited to, uncertainties related to CVT`s early stage of development and clinical trials. Actual results could differ materially. Factors that could cause or contribute to such differences are more fully discussed in CVT`s Annual Report on Form 10-K for the year ended December 31, 1999.

CV Therapeutics, Inc., headquartered in Palo Alto, CA, is a biopharmaceutical company focused on the application of molecular cardiology to the discovery, development and commercialization of novel, small molecule drugs for the treatment of cardiovascular diseases. CVT is currently conducting clinical trials for two of its products. Ranolazine, the first in a new class of compounds known as partial fatty acid oxidation (pFOX) inhibitors for the potential treatment of angina, is in Phase III clinical trials. CVT-510, an A1 adenosine receptor agonist, for the potential treatment of atrial arrhythmias, is in Phase II clinical trials. For more information, please visit CV Therapeutics` web site at www.cvt.com.


CV THERAPEUTICS, INC.
Summary Financial Information

Consolidated Statements of Operations
(In thousands, except per share amounts)
(unaudited)

Three Months Ended Six Months Ended
June 30, June 30,
1999 2000 1999 2000
Revenues:
Collaborative research $-- $2,000 $-- $2,000
Operating expenses:
Research and development 4,477 9,346 8,676 16,040
General and administrative 1,173 1,585 2,357 3,117
Total operating expenses 5,650 10,931 11,033 19,157

Loss from operations (5,650) (8,931) (11,033) (17,157)
Interest income 523 4,265 1,098 6,314
Interest and other expense (238) (2,717) (483) (3,623)

Net loss $(5,365) $(7,383) $(10,418) $(14,466)

Basic and diluted net
loss per share $(0.45) $(0.40) $(0.90) $(0.79)

Shares used in computing
basic and diluted net
loss per share 11,907 18,379 11,569 18,313

Condensed Consolidated Balance Sheets
(In thousands)

December 31, June 30,
1999 2000
(A) (unaudited)
Assets
Cash, cash equivalents and marketable
securities $91,257 $269,614
Other current assets 2,447 3,062
Total current assets 93,704 272,676
Property and equipment, net 2,676 2,637
Other assets 527 6,914
Total Assets $96,907 $282,227

Liabilities and Stockholders` Equity
Current liabilities $5,666 $10,370
Convertible subordinated notes -- 196,250
Other long-term obligations 9,094 6,283
Stockholders` equity 82,147 69,324
Total Liabilities and Stockholders` Equity $96,907 $282,227

(A) Derived from the audited financial statements included in the
Company`s Annual Report on Form 10-K for 1999

SOURCE: CV Therapeutics, Inc.


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