Medivation Inc.’s late-stage prostate cancer drug showed in a study that it could help the sickest patients live a median 4.8 months longer, the company said Thursday.
The announcement, coming 1-1/2 years after its high-profile Alzheimer’s disease drug Dimebon flopped in a Phase III trial, sent shares of the San Francisco-based drug developer (NASDAQ: MDVN) sharply higher in pre-market trading Thursday. The stock, which closed Wednesday at $16.53, climbed 121 percent to $36.60.
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