Medivation Inc. (MDVN)

[johnsyn]

Xtandi Off to a Fast Start (MDVN) - Leerink Swann

7:23 AM 11/12/2012 - StreetInsider

Leerink Swann reiterated their Outperform rating on Medivation (NASDAQ: MDVN), saying Xtandi appears to be off to a fast start.

The firm comments, "As previously reported by Astellas and in an 8-K by MDVN, US Xtandi sales were $14.1M for the 12 shipping days in the 3Q12. We believe this represents a good start of the commercial launch, though a substantial portion was likely related to stocking and patients rolling over from the EAP. MDVN announced that Phase III clinical trials for Xtandi are being planned, although the indications are in discussion with partner Astellas and will be publicly announced at a later date."

Shares of Medivation closed at $45.70 yesterday, with a 52 week range of $38.82-$113.00. (NOTE- high was from pre-split)