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Medivation Reports Fourth Quarter and Year-End 2008 Financial Results and Provides Corporate Update
Date:3/16/2009

l function at low concentrations of Dimebon across multiple experiments, and Dimebon showed potent mitochondrial responses in both stressed and normal cells.

MDV3100

  • Completed enrollment in our Phase 1-2 dose-escalation trial in patients with castration-resistant prostate cancer (CRPC).
  • Presented data from our Phase 1-2 clinical trial at ASCO's 2009 Genitourinary Cancers Symposium showing that MDV3100 consistently demonstrated encouraging anti-tumor activity across dose levels, endpoints and in both pre- and post-chemotherapy groups in the 114 patients who had thus far been followed for 12 weeks or longer. Safety data demonstrated that doses at 240 mg and below were well tolerated.
  • Remain on track to seek FDA approval to begin a pivotal Phase 3 registration study in castration-resistant prostate cancer patients in 2009.
  • Will present additional data from the ongoing Phase 1-2 study at upcoming medical conferences in 2009.

Fourth Quarter and Year-End 2008 Financial Results

Revenue for the fourth quarter and full year of 2008 was $12.6 million, consisting of partial recognition of the non-refundable up-front payment of $225.0 million received from Pfizer in October 2008. The up-front payment was recorded as deferred revenue upon receipt and is being recognized on a straight-line basis over the estimated performance period of the Company's obligations under its collaboration agreement with Pfizer, which the Company presently expects to complete in the first quarter of 2012.

For the twelve months ended December 31, 2008, total operating expenses were $76.8 million, compared with total operating expenses of $33.8 million for the same period in 2007. These figures include non-cash stock-based compensation expense of $8.5 million in the year ended December 3
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1. Medivation Announces New Positive Efficacy Data From Phase 1-2 Trial of MDV3100 in Castration-Resistant Prostate Cancer Patients
2. Medivation Presents New Data on Dimebons Novel Mechanism of Action
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4. Medivation Reports Third Quarter 2008 Financial Results and Provides Corporate Update
5. Medivation Announces Third Quarter 2008 Teleconference and Webcast on November 10, 2008
6. Medivation Announces Expiration of Hart-Scott-Rodino Waiting Period for Collaboration With Pfizer
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