Angiotech’s Partner Shows Positive Stent Data (ANPI)
Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) has announced this morning that its corporate partner, Cook Medical, has reported positive interim results from the registry arm of its clinical study in measuring the effectiveness of its Zilver PTX drug-eluting peripheral stent in treating peripheral arterial disease (PAD).
Interim data was compiled at six and 12 months using 435 patients and 200 patients, respectively. The corresponding EFS rates were 94% and 84%, and freedom from TLR was 96 percent and 88%.
Angiotech is a company that has not been in the brightest spot of late. As the company makes polymers for stents (and other uses), the 2007 issues surrounding the safety and efficacy of stents had a severe negative impact on the company.
Even after a 6% rise this morning to $2.74, the stock is still down almost two-thirds from its 52-week highs of $7.90. In late 2004 this stock traded well over $20.00.
Jon C. Ogg
June 11, 2008