Cardiome shares sag after Merck delays PhIII study

Investors in Canada's Cardiome Pharma (CRME) are more than a little disappointed to hear that the company's Big Pharma partner Merck isn't going to keep to its late-stage development schedule for the oral formulation of vernakalant, an experimental drug for irregular heartbeat. Once slated for a summer start date, the Phase III study is now up in the air, with no firm countdown in place. The news took some of the wind out of Cardiome's sails, along with a chunk of its stock price,...