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News Breaks | | | | December 24, 2012 | | 10:12 EDT |  | MDVN | Medivation falls after losing court decision over compound rights
Medivation (MDVN) is retreating after a California Superior Court rejected Medivation's contention that the University of California had violated its agreements with the company by licensing certain compounds to another drug company, Aragon. The court found that the licensing deal struck between Medivation and the University did not prohibit the school from granting rights to Aragon for compounds that were discovered prior to those licensed to Medivation. Aragon is using the compounds to develop a drug which could compete with Medivation's Xtandi, a prostate cancer treatment that has already been approved by the FDA. In a note to investors earlier today, however, research firm Jefferies wrote that Medivation would not be significantly hurt by the decision over the long term. Aragon's drug, ARN-509, isn't significantly different from Medivation's treatment and ARN-509 isn't likely to be approved for more than three years, the firm believes. Moreover, regulators may require Aragon to conduct a trial to determine if ARN-509 is more effective than Medivation's Xtandi, Jefferies wrote. Such a requirement would create another hurdle for Aragon, Jefferies believes. Medivation may appeal the court's decision, the firm added. The firm maintained a $62 price target and Buy rating on Medivation shares. In early trading, Medivation fell $1.46, or 2.81%, to $50.38. | |
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News For MDVN From The Last 14 Days Check below for free stories on MDVN the last two weeks. |
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| May 14, 2013 | | 14:59 EDT |  | MDVN | Medivation has a conference call hosted by JPMorgan
JPMorgan Analysts Meacham and Kasimov host a conference call with CEO David Hung on May 16 at 10 am. | | | May 9, 2013 | | 16:23 EDT |  | MDVN | Medivation sees FY13 operating expenses, net of Astellas payments, $285M-$300M
 Subscribe for More Information | | | 16:23 EDT | | MDVN | Medivation reports Q1 EPS (36c), consensus (41c)
Reports Q1 revenue $46.15M, consensus $38.54M. | | | 15:27 EDT | | MDVN | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include priceline.com (PCLN), consensus $5.27; Public Storage (PSA), consensus $1.62; NVIDIA (NVDA), consensus 10c; CareFusion (CFN), consensus 53c; Assured Guaranty (AGO), consensus 68c; Medivation (MDVN), consensus (41c); Great Plains Energy (GXP), consensus 12c; Salix Pharmaceuticals (SLXP), consensus 68c; Air Lease (AL), consensus 38c; Sotheby's (BID), consensus (12c). | |
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