Pre-Open Movers 9/3: Medivation (MDVN) Surges On Pfizer Deal; Corning (GLW) Sinks on Warning Sep 3, 2008 09:28AM

StreetInsider.com Pre-Open Movers:

Medivation, Inc.(NASDAQ: MDVN) 30% HIGHER; Entered into an agreement with Pfizer (NYSE: PFE) to develop and commercialize Dimebon, Medivation's investigational drug for treatment of Alzheimer’s disease and Huntington’s disease. Under the terms of the agreement, Medivation will receive an up-front cash payment of $225 million. The company will receive additional money on certain milestones and will receive royalties.

Ambac Financial NYSE: ABK) 14% HIGHER; received regulatory approval from the Commissioner of Insurance of the State of Wisconsin to capitalize and reactivate Connie Lee Insurance Company, its financial guarantee subsidiary. Connie Lee will conduct business under a new name and will focus on the U.S. municipal and global public purpose financing markets.

Neurocrine Biosciences, Inc. (Nasdaq: NBIX) 13% HIGHER; announced positive safety and efficacy results from its third ...