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Medivation Reports Third Quarter 2008 Financial Results and Provides Corporate Update
Date:11/10/2008

- Conference Call Today at 4:30 p.m. Eastern Time -

SAN FRANCISCO, Nov. 10 /PRNewswire-FirstCall/ -- Medivation, Inc. (Nasdaq: MDVN) today reported on its corporate progress and financial results for the quarter ended September 30, 2008.

"The third quarter represented another quarter of significant achievement and progress and was capped with the signing of our partnering agreement with Pfizer for Dimebon. This collaboration not only gives us access to a world-class partner capable of maximizing global commercialization, but also provides significant funding allowing us to invest in all of our clinical programs and actively pursue other drug candidates," said David Hung, M.D., president and chief executive officer of Medivation. "We are working with Pfizer on an extensive program to support a broad label for Dimebon in Alzheimer's disease beyond our original plan to pursue the treatment of mild-to-moderate Alzheimer's, and to achieve comprehensive and expeditious regulatory submissions and market acceptance. Accordingly, together we intend to expand development of Dimebon to include new Phase 3 trials in addition to the CONNECTION study. We expect to begin the new trials in 2009 and to file a New Drug Application (NDA) for a broader Alzheimer's disease label in 2011."

Corporate Update

Dimebon: Drug candidate to treat Alzheimer's and Huntington's diseases

-- Entered into an agreement with Pfizer Inc. to jointly develop and

commercialize Dimebon for the treatment of Alzheimer's and Huntington's

diseases. Under the terms of the agreement, Medivation has received an

up-front cash payment of $225 million and is eligible to receive

payments of up to $500 mill
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SOURCE Medivation, Inc.
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