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Medivation Common Stock Approved for Listing on the American Stock Exchange

Posted on: Wednesday, 8 March 2006, 06:00 CST

Medivation, Inc. (OTCBB: MDVN) today announced that its common stock has been approved for listing on the American Stock Exchange ("Amex"). Medivation's common stock is expected to commence trading on the Amex under the symbol "MDV" at market open on Wednesday, March 15, 2006.

David Hung, MD, President and Chief Executive Officer of Medivation, stated: "The approval of our shares for listing on the Amex is an important milestone in the growth of our company. Based on recent discussions with investors, we believe that an exchange listing may provide Medivation a number of benefits, including increased visibility in the financial community, greater liquidity for our stock and a larger potential investor base that includes those who cannot invest in unlisted securities. These potential benefits are important as we continue to advance our development programs in Alzheimer's disease, Huntington's disease and hormone-refractory prostate cancer, and search for promising new technologies to bring into our portfolio."

The listing approval is contingent upon Medivation being in compliance with all applicable listing standards on the date it begins trading on the Amex, and may be rescinded if Medivation is not in compliance with such standards.

About Medivation

Medivation, Inc. acquires promising pharmaceutical and medical device technologies in the late preclinical development phase, develops those technologies quickly and cost-effectively through human first proof-of-efficacy studies (generally the end of Phase 2 clinical trials), and seeks to sell or partner successful programs with larger pharmaceutical, biotechnology and medical device companies for late-stage clinical studies and commercialization. The Company intends to build and maintain a portfolio of 4 to 6 development programs at all times, targeting technologies with the potential to generate returns on investment of at least 6 fold within 3 years.

Medivation's current portfolio consists of small molecule drugs in development to treat 3 large, unmet medical needs - Alzheimer's disease, Huntington's disease and hormone-refractory prostate cancer, the last two of which are likely Orphan Drug indications. Dimebon(TM), with a 20-year record of human use and demonstrated efficacy in animal studies of both Alzheimer's disease (AD) and Huntington's disease (HD) and in a pilot clinical study of AD, is in a randomized, double-blind, placebo-controlled Phase 2 study in AD patients in Russia, the results of which are expected to be available in Q3 2006. Medivation also expects to initiate a U.S. Phase 1-2 study of Dimebon in HD patients in 2006. The MDVN 300 series compounds are in development for the treatment of hormone-refractory prostate cancer. Further information about Medivation can be found on its website (www.medivation.com).

Safe Harbor Statement

This press release contains forward-looking statements, including statements regarding the anticipated timing of regulatory and clinical milestones on the Company's Dimebon Alzheimer's disease and Huntington's disease programs, and the Company's MDVN300 family of small molecules for the treatment of hormone-refractory prostate cancer, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. Our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-KSB for the year ended December 31, 2004 and our Quarterly Reports on Form 10-QSB for the quarters ended March 31, 2005, June 30, 2005, and September 30, 2005 include more information about factors that could affect our financial and operating results.

Source: Business Wire

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