Investing

Medivation Jumps on Prostate Cancer Drug Test (MDVN, DNDN, JNJ)

Shares of development-stage drug maker Medivation Inc. have risen sharply today as the company said that its MDV3100 late-stage prostate cancer drug for patients who have failed chemotherapy extends life expectancy by 4.8 months. The drug does not challenge Dendreon Inc.’s (NASDAQ: DNDN) Provenge prostate cancer treatment, which attacks early-stage prostate cancer, but will compete with Johnson & Johnson’s (NYSE: JNJ) Zytiga late-stage drug.

Medivation’s shares are up nearly 24% at $68.59 after posting a new 52-week high of $68.81 earlier. See today’s story on Dendreon and Provenge here.

Find a Qualified Financial Advisor (Sponsor)

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.