Biopharmaceutical Stock Alert: Medivation, Inc. (NASDAQ: MDVN) Trades up over 100% on News of Positive Results of Phase 3 AFFIRM Trial
Point Roberts, WA - November 3, 2011 - Investorideas.com, an investor research portal specializing in sector research including biotech and pharma stocks, issues a trading alert for Medivation, Inc. (NASDAQ: MDVN) following news of �Positive Survival Data From Interim Analysis of Phase 3 AFFIRM Trial of MDV3100 in Men With Advanced Prostate Cancer.
The stock is trading up at $35.37, up 18.85 (113.97%) 11:09AM EDT.
This morning, Medivation, Inc. (NASDAQ: MDVN) and Astellas Pharma Inc. announced that the Independent Data Monitoring Committee (IDMC) has informed the companies of positive results from a planned interim analysis of the Phase 3 AFFIRM trial of MDV3100 in men with advanced prostate cancer previously treated with chemotherapy. MDV3100, the first androgen receptor signaling inhibitor, successfully met the study's pre-specified interim efficacy stopping criteria, demonstrating a clinically meaningful and statistically significant (p < 0.0001) improvement in overall survival compared to placebo. As a result, the IDMC recommended that AFFIRM be stopped early and men who received placebo be offered MDV3100.
Medivation, Inc. is a biopharmaceutical company focused on the rapid development of novel small molecule drugs to treat serious diseases for which there are limited treatment options. Medivation aims to transform the treatment of these diseases and offer hope to critically ill patients and their caregivers. Together with its corporate partners Astellas and Pfizer, Medivation currently has investigational drugs in Phase 3 development to treat advanced prostate cancer and mild-to-moderate Alzheimer's disease. For more information, please visit us at www.medivation.com.
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