SAN FRANCISCO, Sept. 25 /PRNewswire-FirstCall/ -- Medivation, Inc. (Nasdaq: MDVN) today announced that it has been selected to be one of the inaugural companies in the new NASDAQ(R) NeuroInsights(R) Neurotech Index. The Index launched today and is calculated on a price return basis (Nasdaq: NERV) and a total return basis (Nasdaq: NRVX.)
"Medivation's selection as one of the top 32 companies in the neurotechnology industry is testament to our commitment to and significant clinical progress with the development of Dimebon(TM), our investigational drug for the treatment of Alzheimer's and Huntington's diseases," said David Hung, M.D., president and chief executive officer of Medivation. "The new Neurotech Index will serve to highlight the significant companies that are changing the medical landscape for neurological diseases and conditions. We expect Medivation's inclusion in this Index to generate greater visibility for our stock."
The NASDAQ NeuroInsights Neurotech Index is the first index designed to track the performance of leading neurotechnology companies that are listed and actively traded on one of the three major U.S. stock exchanges. It includes companies engaged in researching, developing, manufacturing and marketing pharmaceuticals, biologics, medical devices and diagnostics for the brain and nervous system. In addition to meeting minimum market criteria, the 32 companies included in the index must be identified by NeuroInsights as significantly involved in the neurotechnology industry, which includes treatments and diagnostics for disorders such as Alzheimer's, addiction, anxiety, depression, epilepsy, multiple sclerosis, obesity, pain, Parkinson's, schizophrenia, sensory disorders, sleep disorders, stroke and traumatic brain injury.
Medivation, Inc. is a biopharmaceutical company that acquires promising technologies in the late preclinical development phase and develops them quickly and cost-effectively. Medivation's current portfolio consists of small molecule drugs in clinical development to treat three large, unmet medical needs -- Alzheimer's disease, Huntington's disease and hormone- refractory prostate cancer. The Company intends to build and maintain a portfolio of four to six development programs at all times. For more information, please go to http://www.medivation.com.
NeuroInsights is the world's leading neurotechnology research and advisory firm. As the neurotechnology market authority, NeuroInsights helps investors, industry and society understand and profit from the rapid growth in drugs, devices and diagnostics for the brain and nervous system. NeuroInsights provides market reports, investment information, industry events and strategic advisory services to venture funds, startups, corporations, governments and financial institutions. For more information, visit http://www.neuroinsights.com.
NASDAQ is the largest U.S. equities exchange. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks as well as a leading liquidity pool for trading NYSE-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.
This press release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. You are also cautioned that none of the Company's product candidates has been approved for sale, that significant additional animal and human testing is required in order to seek marketing approval for any of its product candidates, and that Medivation cannot assure you that marketing approval can be obtained for any of its product candidates. Medivation's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-KSB for the year ended December 31, 2006, include more information about factors that could affect the Company's financial and operating results.
|SOURCE Medivation, Inc.|
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