Medivation (MDVN): talazoparib May Lead to One More Round of Takeout Bids - Leerink

Leerink Partners analyst, Geoffrey Porges, attended a Medivation sponsored Investor Conference Call with Dr. David Hung, MDVN President & CEO, about talazoparib, MDVN’s PARP inhibitor in development for the treatment of multiple solid tumors. Following recent positive data from TSRO’s phase III niraparib PARP inhibitor, which provided significant validation for the “PARP” drug class, there has been heightened and renewed interest in MDVN’s pipeline of talazoparib opportunities. The call highlighted talazoparib’s “best-in-class” pre-clinical profile based on its overall potency and distinctive PARP-trapping abilities, as well as its suitability to be used in combination with single-stranded DNA-damaging chemotherapy and radiotherapy treatments and even with Medivation’s existing product Xtandi. MDVN sees an addressable market opportunity of over $30bn in the US and Europe for talazoparib, though approvals aren’t anticipated until 2018-2023.

The analyst believes management is hoping that this incremental data may spur one more round of increases in takeout bids.

Market Perform Medivation (NASDAQ: MDVN) price target of $64.00

For an analyst ratings summary and ratings history on Medivation click here. For more ratings news on Medivation click here.

Shares of Medivation closed at $62.33 yesterday.

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