Brean Capital Weighs In On Medivation Following Update On TERRAIN Study
TipRanks | Mar 26, 2015 09:42AM ET
Medivation Inc (NASDAQ:MDVN) is best known for developing therapies to treat serious diseases. Earlier in 2014 the biopharmaceutical company received FDA approval to expand the use of Xtandi, a prescription medicine used to treat men with prostate cancer.
At the European Association of Urology Congress on March 24th, Medivation and Partner Astellas Pharmaceueticals announced new data from its Phase 2 TERRAIN study, which evaluated Xtandi (enzalutamide) in comparison to Casodex (bicalutamide), a direct competitor of the treatment in metastatic prostate cancer. The company also announced final OS data from its Phase 3 PREVAIL trial in chemo-naïve mCRPC.
The TERRAIN study revealed that overall Prostate-specific antigen (PSA) progression was 13.6 months longer in patients being treated with Xtandi compared to 5.8 months for patients treated with Casodex. Patients being treated with Xtandi also showed a 50% PSA reduction over the course of 13 weeks, vesus only a 21% reduction in patients being treated with Casodex in the same time-frame.
The PREVAIL trial treated male patients with chemotherapy-naive metastatic prostate cancer whose disease progressed despite having androgen deprivation therapy. After being treated with Xtandi, statistics showed the survival rate of these patients were overall beneficial.
Bertrand Tombal, M.D., Ph.D., chairman, stated, “This study demonstrates that starting patients on enzalutamide at the point when their castration-resistant prostate cancer becomes metastatic has the potential to prolong survival… The overall survival analysis from the PREVAIL trial confirms significant overall survival benefit despite many patients receiving subsequent treatments.”
On March 25th, Brean Capital analyst TipRanks is Strong Buy.
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