Medivation +8.2% AH as prostate cancer drug impresses in pre-chemo study

|By:, SA News Editor

Medivation (MDVN) +8.2% AH after its Xtandi drug for advanced prostate cancer was found to significantly delay progression of the disease and extend survival in a large, late stage study of patients who had not yet received chemotherapy.

Xtandi (enzalutamide) already is approved to treat patients whose prostate cancer has spread and who had previously been treated with chemotherapy; approval for use prior to chemo could greatly expand the available patient population, significantly boost sales, and enable the drug to compete with Johnson & Johnson's (JNJ) Zytiga.

Sanford Bernstein says annual Xtandi sales eventually could exceed $3B with a pre-chemo approval.