SNY - Should You Buy MyoKardia Stock After This Week's 96% Gain?
MyoKardia (NASDAQ: MYOK) soared 96% this week after reporting its investigational heart drug met primary and all secondary endpoints in a phase 3 clinical trial. The clinical stage biotech company will submit mavacamten for the treatment of obstructive hypertrophic cardiomyopathy (HCM) to the U.S. Food and Drug Administration (FDA) for review early next year.
After such gains, the question is whether the stock can move higher -- now or in the future. MyoKardia has four other treatments for serious cardiovascular diseases in the pipeline, but mavacamten, as its most advanced candidate, likely will be the main catalyst for share movement for a while to come. Let's take a closer look at the drug's potential.
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