Medivation (MDVN) Cancer Drug News - Positive

Medivation (MDVN) released phase 3 data on their cancer trial, MDV3100, which was very positive. MDVN stock is higher by 19% to $66.00.
 

Medivation and Astellas Announce Positive Results From the Phase 3 AFFIRM Trial of MDV3100 in Prostate Cancer Patients Who Received Prior Chemotherapy
 

MDV3100 Prolonged Life by 4.8 Months Compared to Placebo and Met All Secondary Endpoints
Medivation to Host Conference Call at 4:30PM Eastern Time on Thursday, February 2.
 

Medivation, Inc. (NASDAQ:MDVN) and Astellas Pharma Inc. (Tokyo: 4503) announced positive results on all efficacy endpoints from the Phase 3 AFFIRM trial of the investigational drug MDV3100 in men with prostate cancer previously treated with chemotherapy. Data will be highlighted in a late-breaking oral presentation at the upcoming 2012 Genitourinary Cancers Symposium in San Francisco, CA on Thursday, February 2.

"MDV3100 outperformed our expectations in the AFFIRM trial by meeting the primary and secondary endpoints with strong statistical significance and demonstrating a favorable safety profile," said Howard I. Scher, M.D., chief, Genitourinary Oncology Service at Memorial-Sloan Kettering Cancer Center, and the co-principal investigator of the AFFIRM study. "These results, together with its convenient once-daily oral dosing regimen, should make MDV3100 a promising option for men with prostate cancer who have received prior hormones and chemotherapy."