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Medivation Reports Third Quarter 2010 Financial Results and Provides Corporate Update
Date:11/5/2010

motherapy.
  • On track to initiate two new MDV3100 trials in earlier-stage prostate cancer this year: a Phase 2 head-to-head trial comparing MDV3100 with bicalutamide; and a Phase 2 trial in hormone-naive patients.
  • The Proceedings of the National Academy of Sciences (PNAS) published a paper showing the preclinical efficacy of MDV3100 against splice variants, which are mutated forms of the androgen receptor that may be associated with the development of prostate cancer resistance to hormone therapy.

  • Dimebon (latrepirdine)

  • On track to report top-line data from HORIZON in the first half of 2011.  This six-month, randomized, double-blind, placebo-controlled Phase 3 trial is evaluating dimebon's potential benefits on cognition and global function in patients with Huntington disease.

  • Continued to enroll patients in CONCERT and expect to complete patient accrual on November 30, 2010.  This 12-month randomized, double-blind, placebo-controlled Phase 3 clinical trial in patients with mild-to-moderate Alzheimer's disease is evaluating the potential efficacy of dimebon when added to ongoing treatment with donepezil.

  • Corporate

  • Were awarded a $733,000 research and development grant under the Internal Revenue Service's Therapeutic Discovery Project Credit Program.

  • Third Quarter 2010 Financial ResultsRevenue for the third quarter of 2010 was $14.4 million, consisting of partial recognition of the non-refundable up-front payments to date from the Company's corporate partners Pfizer and Astellas.  These payments were recorded as deferred revenue upon receipt and are being recognized as revenue on a straight-line basis over the estimated performance period of the Company's obligations under the applicable collaboration agreement.

    Total operating expenses for the third quarter of 2010 were $21.1 million, compared with $27.6 million for the same
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    SOURCE Medivation, Inc.
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    1. Medivation Announces Third Quarter 2010 Financial Results Teleconference and Webcast on November 5, 2010
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    3. Medivation Announces Organizational Changes to Support Anticipated Growth and Future Commercialization
    4. Medivation Reports Third Quarter 2009 Financial Results and Provides Corporate Update
    5. Astellas and Medivation Enter Into Worldwide Agreement to Co-Develop and Co-Commercialize MDV3100 for the Treatment of Prostate Cancer
    6. Medivation Announces Initiation of Phase 3 Clinical Trial of MDV3100 in Advanced Prostate Cancer
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