MRK - The Medicines Company Surges on Positive Drug Trial Results
The Medicines Company (NASDAQ: MDCO) announced last week that recent trial data showed positive results for its flagship cholesterol drug, inclisiran. Shares of the company, which has a $3.82 billion market cap, shot up 9.3% in response to the news, and although the stock has given back most of those gains since then, it's still a very encouraging piece of news for the biotech company.
Since the company sold its infectious disease assets back in 2017, The Medicines Company has placed essentially all of its eggs in one basket. This seems to have been a good move, as the drug candidate seems to have an increasingly optimistic pathway to eventual approval by the FDA.
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