MCU

[Melf Elf]

Friday's wedge breakout puts a target of 2.22 IN PLAY, whcih reinforces the Ascending Triangle target of 2.20, already IN PLAY.  Too bad that this stock isn't more liquid. 

[Melf Elf]

Bought MCU at 1.78.

[Melf Elf]

We got a couple of block trades this morning.  10,000 shares at 1.82, and 10,000 shares at 1.83.  That's sizeable, given how very thinly traded this stock has been lately:

Monday: 57,000 shares traded.
Tuesday: 34,000 shares traded
Wednesday: 87,000 shares traded
Today: 140,000 shares have traded, so far.

MCU currently is BID 1.82...ASK 1.84, up 10.84%.

I'd like to see the gain hold up on some volume today.

[kds99]

Got good news today

Medicure Reports Positive POD 90 Results From The MEND-CABG Study

Medicure Inc. (Toronto:MPH.TO - News)(AMEX:MCU - News), a cardiovascular drug discovery and development company is pleased to report positive post operative day (POD) 90 results with its lead cardioprotective product, MC-1, from the Phase II MEND-CABG study. The MEND-CABG study was a double blind, parallel group, randomized, placebo-controlled study in 902 patients who underwent coronary artery bypass graft (CABG) surgery

The primary endpoint of MEND-CABG was the reduction in the composite of cardiovascular death, non-fatal myocardial infarction (heart attack), and non-fatal stroke up to POD 30. Positive POD 30 results were announced in December 2005. In addition to the POD 30 analysis, the study protocol included following study patients for 90 days post operatively (POD 90) for further safety and efficacy analysis.

The MEND-CABG Study Results:

The MEND-CABG POD 90 results further demonstrated the positive clinical effects of MC-1:

- The clinical results reported at POD 30 with MC-1, as noted below, were maintained throughout the follow up period.

- The safety analysis demonstrated MC-1 was safe and well tolerated. The incidence of adverse events in the study was comparable across both treatment and control groups.

The MEND-CABG POD 30 results released in December 2005 demonstrated the positive clinical effects of MC-1:

- The 250 mg dose of MC-1 had a 37.2% reduction in the composite of cardiovascular death, non-fatal myocardial infarction (peak CK-MB greater than or equal to 100ng/ml), and non-fatal stroke versus placebo (p equals 0.028).

- The reduction in the composite endpoint was driven by a substantial decrease in the incidence of non-fatal myocardial infarction, most notably a 46.9% reduction in non-fatal myocardial infarction (peak CK-MB greater than or equal to 100ng/ml) with the 250 mg of MC-1 versus placebo (p equals 0.008).

- The 250 mg dose of MC-1 had a 14.0% reduction in the primary endpoint composite of cardiovascular death, non-fatal myocardial infarction (peak CK-MB greater than or equal to 50ng/ml), and non-fatal stroke versus placebo (p equals 0.312).

Medicure plans to present the detailed results from MEND-CABG, including the POD 90 analysis, at an upcoming scientific symposium.

"The maintenance of the clinical reductions at POD 90 further supports MC-1's ability to significantly reduce heart attacks in this high risk patient population and clearly warrant advancing MC-1 into pivotal Phase III development," commented Medicure's President and CEO, Albert D. Friesen, PhD. "These results suggest that MC-1 could represent a major therapeutic breakthrough in the treatment of acute ischemia and ischemic reperfusion injury. We will meet with the FDA to discuss these results and develop the Phase III program, which we anticipate commencing in the second half of 2006."

About the MEND-CABG Study

The MEND-CABG trial was designed to evaluate the cardioprotective and neuroprotective effects of MC-1 in high-risk coronary artery disease patients undergoing CABG surgery. The trial enrolled 902 patients at 42 investigational sites throughout Canada and the United States. The study was a double blind, parallel group, randomized, placebo-controlled study in patients who underwent coronary artery bypass graft (CABG) surgery. Study patients received placebo or MC-1 (250 mg or 750 mg) on the day of surgery and for 30 days post operatively (POD 30). The primary endpoint of MEND-CABG was a reduction in the composite of cardiovascular death, non-fatal myocardial infarction (heart attacks), and non-fatal stroke up to POD 30. Study patients were followed for 60 days after treatment (90 days post operatively) for additional safety and efficacy analysis.

About MC-1

MC-1 is a naturally occurring small molecule that reduces the amount of damage to the heart following ischemia and/or ischemic reperfusion injury. Studies with MC-1 suggest that it does this by protecting cardiomyocytes (heart muscle cells). Since cardiomyocytes are essential for normal heart function and do not regenerate themselves following an ischemic event, their preservation is key to minimizing ischemic damage and maintaining proper heart function. MC-1's cardioprotective properties have now been demonstrated in the Phase II MEND-1 study in patients undergoing percutaneous coronary interventions and the Phase II MEND-CABG study in patients undergoing CABG surgery.

About Medicure Inc.

Medicure Inc. is a cardiovascular drug discovery and development Company focused on developing effective therapeutics for unmet needs in the field of cardiovascular medicine, the largest pharmaceutical market sector. The Company's solid position in this field is supported by the following attributes:

- Cardiovascular focused pipeline: a global market of over US $70 billion

- Two drugs - MC-1 & MC-4232 - in late stage clinical development

- Four positive Phase II trials completed

- FDA Fast Track designation for MC-1

- Unique products addressing major, inadequately served markets

- Dual action antithrombotic, MC-45308, with positive preclinical results

Medicure also has a medicinal chemistry based Drug Discovery program focused on discovery and advancement of novel small molecule, anti-ischemics, and antithrombotics towards human clinical studies.

This press release contains forward-looking statements that involve risks, which may cause actual results to differ materially from the statements made, and accordingly may be deemed to be forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are made as of the date hereof, and the Company disclaims any intention and has no obligation or responsibility to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

[calven]

Still like this stock but not sure if buyers are there anymore...   

[Melf Elf]

Got good news today

kds,

Thanks for that news the other day. Applause.  MCU got a pop, but then went down on an analyst downgrade.

More news today: MCU will proceed with Phase III study to gain approval for MC-1 in the reduction of cardiovascular events in patients undergoing heart bypass graft surgery.

MCU is up again (+12.25%) on that news, but volume still is lousy. 

Still like this stock but not sure if buyers are there anymore...

You have to buy some more, Calven.  We need some VOLUME.    

Actually, the low volume here, in what looks to be a Bullish Falling Wedge, is okay.  We need a breakout, though, on volume.

[Melf Elf]

You have to buy some more, Calven.  We need some VOLUME.    

Calven,

Was that you, buying that 19,500 share block at the close, for 1.79?   

The high in MCU yesterday was 1.75 until the last few seconds. It was BID 1.74...ASK 1.75 at the bell, then these trades went off:

19,500 at 1.79 15:59:57
2,300 at 1.79 16;00:00
2,700 at 1.79 16:00:56

I figured that it was all done, then one trade came through: 200 shares at 1.72, and that was the closing price.  Nothing like nicking the poor guy/gal on the 200 shares!

At any rate, those shares traded at 1.79 tagged the top of the Bullish Falling Wedge  (pattern in green) within about one-third of a penny, so this is looking MUCH better than it did at Tuesday's close.

Tuesday's close on the low of the day, at 1.55, had me concerned.  I thought we might be for it, with the analyst in Canada having downgradied it to "reduce," and with the stock acting weak.   

That close was within a half penny of the ascending line of the Ascending Triangle, so MCU had to rally yesterday, or it would violate it.   That third hit (see numbers in purple) at 1.55 makes it an important trendline now, because the market has validated it as support.

MCU has been frustrating since the March 10 breakout above 1.70 - 1.72, but the low volume, boring trading hasn't been without purpose because we've now got another bullish pattern (needs to break out, for confirmation).

Similar to ALGN, I like this chart because it now has three "nested" bullish patterns.  Those can "pack some punch," like NVAX in mid-February, when it came off 4.09 support and finally broke out of those patterns, for a rally of better than 100%, to 8.39 one month later.  Much higher than what the targets indicated.

MCU closed yesterday at 1.72, which was the high of the Ascending Triangle pattern (purple).  If it can break out of this Bullish Falling Wedge, we "should" start heading for those targets over $2.00.

Good luck to those long!

[Melf Elf]

We gapped away at the open from 1.72 (the high of the Ascending Triangle...pattern in purple) to 1.76, and broke out of the Bullish Falling Wedge (pattern in green), so all of our upside targets on the chart are IN PLAY.

The only thing that I didn't like was the same problem that has been dogging us: lack of volume.  A gap up pattern breakout should be done with some conviction.  Otherwise, interest in the stock can wane, and we might end up coming back to fill the 1.72-1.76 gap.

Otherwise, the chart structure (three bullish patterns) looks very good, and the technicals look good.  MACD has bounced higher from just above the zero line, and we got a bounce higher out of synchronicity in the longer-term 89/144RSIs.

[calven]

MCU looking a lot better. I liked how it bounced off 1.55 and shot up - tells me there are buyers underneath! 

[Liquid Stick]

MCU

LS

[Deadb440]

My usual charts for Medicure that I have posted on the Public Charts Forum at StockCharts.com.................  Dead   

[Melf Elf]

Bought MCU at 1.78.

I not only have been bored to death in this trade for the past five weeks, I also feel like I've been dodging bullets on the tests of the up trendline off the January low (we need a face on the toolbar that ducks up and down).

MCU recently has had lows of 1.64 and 1.65.  If it can take out 1.87, it will be the FOURTH bullish pattern breakout (it would be a "W"-Bottom breakout).

Meanwhile, MCU is BID 1.77....ASK 1.78

We also need a face on the toolbar that keeps yawning.