The MDV3100 results were so positive that the study is being stopped early and men receiving placebo will be offered MDV3100 instead, the companies said.
Medivation shares soared $20.97, or 128%, to $37.50 in Thursday's pre-market trading.
"We are very excited about these results and will work closely with our alliance partners at Medivation to pursue regulatory submissions in the United States, Europe and Japan," said Steven Ryder, president of Astellas Pharma Global Development.
"We are very excited about these results and will work closely with our alliance partners at Medivation to pursue regulatory submissions in the United States, Europe and Japan," said Steven Ryder, president of Astellas Pharma Global Development.
The phase III study enrolled men with advanced prostate cancer previously treated with chemotherapy. In the interim analysis, men treated with MDV3100, a pill, reported a median survival of 18.4 months compared to 13.6 months for men treated with a placebo -- or a 4.8-month survival benefit favoring MDV3100.
Analyzed another way, the risk of a man dying of prostate cancer while being treated with MDV3100 was reduced by 37%. The results from the interim analysis were statistically significant, which is why the study was stopped early
For the latest updates on the stock market, visit,
http://daytradingstock-blog.blogspot.com/
