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Stock Market & Financial Investment News

News Breaks
November 9, 2012
16:13 EDTMDVNMedivation sees FY12 OpEx $205M-$215M
Medivation currently expects total operating expenses for 2012, net of cost-sharing payments from Astellas, to be between $205M-$215M, approximately $25M of which consists of non-cash stock-based compensation expense. This increase from prior guidance of between $183M-$198M is due primarily to increased compensation and royalty expense in 2012 resulting from XTANDI's approval in the U.S. approximately one quarter earlier than expected. Medivation continues to expect to incur approximately $15M in capital expenditures in 2012, primarily related to leasehold improvements at its new corporate and commercial headquarters facilities.
News For MDVN From The Last 14 Days
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August 28, 2015
07:12 EDTMDVNWilliam Blair names 21 stocks best positioned for volatile markets
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August 27, 2015
08:35 EDTMDVNMedivation price target raised to $166 at William Blair after talazoparib deal
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August 24, 2015
07:02 EDTMDVNMedivation to acquire worldwide rights to Talazoparib from BioMarin
Medivation (MDVN) and BioMarin Pharmaceutical (BMRN) have entered into an asset purchase agreement under which Medivation will acquire all worldwide rights to talazoparib, a highly-potent, orally-available poly ADP ribose polymerase inhibitor currently in a Phase 3 study for the treatment of patients with deleterious germline BRCA 1 or BRCA 2 mutations and locally advanced and/or metastatic breast cancer. Under the agreement, Medivation will be responsible for all research, development, regulatory and commercialization activities for all indications on a global basis. Under the terms of the agreement, Medivation will pay BioMarin $410 million upfront, up to an additional $160 million upon the achievement of regulatory and sales-based milestones and mid-single digit royalties for talazoparib. At the closing of the transaction, Medivation will assume all financial obligations associated with the development and commercialization of talazoparib. The closing of the transaction is conditioned on the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is anticipated to close in 2015.

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