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News Breaks
June 1, 2014
17:03 EDTALPMY, MDVNNew England Journal of Medicine publishes results from Phase 3 PREVAIL trial
Astellas Pharma US , a U.S. subsidiary of Tokyo-based Astellas Pharma (ALPMY) and Medivation (MDVN) announced the online publication in the New England Journal of Medicine of the results from the Phase 3 PREVAIL trial, an international, randomized, double-blind, placebo-controlled clinical study of enzalutamide. The study evaluated the benefit and safety of enzalutamide in men with metastatic prostate cancer, who had few or no symptoms, that had progressed on luteinizing hormone-releasing hormone, LHRH, therapy or after bilateral orchiectomy. The paper, "Enzalutamide in Men with Metastatic Prostate Cancer Before Chemotherapy," appears in the June 1 online issue and the companies anticipate publication in a future print issue of the Journal. "The PREVAIL study results demonstrate that treatment with enzalutamide in men with metastatic castration resistant prostate cancer can decrease the risk of death, delay the growth or spread of metastatic prostate cancer, and delay the time to initiation of chemotherapy," said Tomasz M. Beer, M.D., F.A.C.P., professor of medicine and deputy director of the Knight Cancer Institute at Oregon Health & Science University, and co-principal investigator of the PREVAIL study. "We are delighted that the New England Journal of Medicine has chosen to publish these important results." A supplemental New Drug Application, sNDA, based on the PREVAIL results received a priority review designation from the U.S. Food and Drug Administration. The Prescription Drug User Fee Act, PDUFA, goal date is September 18. A variation application to amend the European Marketing Authorization Application based on the results of PREVAIL was validated for review by the European Medicines Agency on April 24.
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September 24, 2014
09:59 EDTMDVNOn The Fly: Analyst Downgrade Summary
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05:31 EDTMDVNMedivation downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded Medivation to Neutral saying current share levels fairly value Xtandi's opportunities in prostate and breast cancer. Goldman raised its price target for shares to $110 from $90 and believes Medivation's fundamentals remain strong.
September 18, 2014
10:00 EDTMDVNOn The Fly: Analyst Upgrade Summary
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07:47 EDTMDVNMedivation upgraded to Buy at Canaccord
As reported previously, Canaccord upgraded Medivation to Buy from Hold citing the pre-chemotherapy opportunity and meaningful incremental share gains of its Xtandi drug. Canaccord raised its price target on Medivation to $132 from $60.
06:13 EDTMDVNMedivation upgraded to Buy from Hold at Canaccord
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