Coverage Initiated: January 2011

Medivation (MDVN) is a pharmaceutical company developing drugs for prostate cancer and central nervous system diseases like Huntington's Disease and Alzheimer's Disease.

MDV3100 (enzalutamide) is an androgen-receptor antagonist designed to treat prostate cancer. Currently in separate Phase III trials in men who have failed chemotherapy and in men who have just failed hormone therapy, MDV3100 is an excellent candidate to be moved into earlier-stage disease.

Results from the first Phase III trial, AFFIRM in patients failing docetaxel chemotherapy, were (as we predicted) stellar. The drug should be approved by the FDA in late 2012 or early 2013 for the post-chemo population. A second Phase III trial in the pre-chemo population (PREVAIL) is still enrolling its 1,700 patients.

MDV-3100 will otensibly compete with Johnson & Johnson's (JNJ, not covered) Zytiga, but MDV-3100 is the far superior drug so the competition will not be a barrier for Medivation. MDV-3100 has more sales potential than Dendreon's (DNDN) Provenge, and can be used in combination with Provenge (unlike Zytiga). Development of MDV-3100 is 12-18 months behind Zytiga.

Medivation also developed Dimebon for Huntington's Disease and Alzheimer's Disease. After failing pivotal trials, development has been discontinued..

Our coverage of Medivation includes detailed analyses of the ongoing pivotal trials as well as how MDV3100 will fit into an increasingly crowded prostate cancer field.

A complete listing of our research on Medivation is available by clicking here.