Top-rated biotech Medivation (MDVN) reported another round of successful trial results for its prostate-cancer drug Xtandi Thursday, giving the stock a brief bump in early trading. Medivation and its partner Astellas said that a midstage trial comparing Xtandi head-to-head with bicalutamide, better known as AstraZeneca’s (AZN) Casodex, showed a considerable survival benefit for the former in castration-resistant prostate cancer. The median
Big pharma Bristol-Myers Squibb (BMY) reported a quarter of shrinking sales and earnings that still beat analysts’ expectations, sending shares up 2% in early afternoon trading in the stock market today. Bristol-Myers’ Q3 earnings slipped 2% from the year-earlier quarter to 45 cents a share, beating estimates by 3 cents. Sales dropped 4% to $3.9 billion, though Bristol noted that excluding the diabetes business it sold off to AstraZeneca (AZN)
Newly public biotech Ardelyx (ARDX) reported positive midstage trial data for its bowel-disease drug Wednesday, sending Ardelyx stock up 30.9% to 18.60 in early afternoon trading trading on the stock market today. It made its IPO in June at 14. Ardelyx said that tenapanor, which it’s developing in partnership with AstraZeneca (AZN), met its primary endpoint in a study of 371 sufferers from irritable bowel syndrome with constipation (IBS-C). After