Medivation (MDVN) Cancer Drug Shows Promise
Shares of Medivation Inc. (MDVN) closed up +8.51 or +11.23 percent on Wednesday to $84.29 per share, after news that the companyâ s prostate cancer therapy had positive results in a Phase III PREVAIL study of men that had not yet begun chemotherapy treatment. The company is currently in collaboration with Japanese pharmaceutical company Astellas Pharma Inc. in the development of enzalutamide for the treatment of multiple stages of prostate and breast cancer.
San Francisco, California based Medivation was founded in 2004 from the acquisition of Medivation Neurology Inc. The biopharmaceutical company specializes in developing new therapies to treat serious illnesses which have limited treatment options. Last August, the Medivation and Astellas drug XTANDI (enzalutamide) was approved for the treatment of metastatic castration resistant prostate cancer in patients that previously were being treated with docetaxel. Enzalutamide is an androgen receptor inhibitor, which has been shown to inhibit androgen binding to androgen receptors and interaction with DNA. On Tuesday, the company said that Men treated with XTANDI had larger declines in their PSA levels, PSA is a protein produced by the prostate increasing the chances of prostate cancer. Close to 4 out of 5 patients in the enzalutamide group experienced a decline of 50 percent or more in PSA, compared to less than four percent in the placebo group. Also, deterioration from the cancer was extended to 11.3 months for patients treated with enzalutamide, versus 5.6 months for placebo patients. According to statements made by Medivation, patients that progressed on androgen deprivation therapy taking XTANDI lived longer than the patients in the placebo group with the risk of death reduced by 29 percent. The risk of the diseaseâ s radiographic progression or death was reduced by 81 percent compared to the placebo patients. Also, men taking the treatment experienced a delay of 17 months in the time to initiate chemotherapy, compared to men taking the placebo, 28 months versus 10 months. These benefits were observed across most patient sub-groups. 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 said that, â
Published on Jan 30, 2014
By Jay Hawk