Wednesday, February 1, 2012

Medivation stock soars on strength of prostate cancer trial

More-detailed information about a late-stage prostate cancer study pushed Medivation Inc. stock higher Wednesday.
San Francisco-based Medivation (NASDAQ: MDVN) and Astellas Pharma Inc. said men in the Phase III trial who took their drug, called MDV-3100, lived a median of 18.4 months. That compares to 13.6 months for men who were given a placebo.
Medivation stock has skyrocketed 317 percent from Nov. 2, the day before Medivation reported initial results from the study, into mid-afternoon trading Wednesday. It was up $11.77 per share, or 21 percent, to $67.18 on Wednesday alone.

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