Medivation Inc MDVN
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/28/2013

Operator: Good day, everyone and welcome to Medivation's Scheduled Conference Call. This call is being recorded. At the end of the Company's prepared remarks, we will open the call for questions and will provide specific instructions at that point.

I'd now like to turn the call over to Anne Bowdidge, Senior Director of Investor Relations. Please go ahead.

Anne Bowdidge - Senior Director, Investor Relation: Thank you for joining us. With me today is Patrick Machado, Chief Business and Financial Officer; Cheryl Cohen, Chief Commercial Officer. Also on the call from Medivation participating remotely are David Hung, President and CEO; and Dr. Lynn Seely, Chief Medical Officer. We issued a press release earlier today that you can find on our website at

Before we begin, I'd like to remind you that various remarks that we make on this call contain forward-looking statements that are made under the Safe Harbor provisions of the Securities laws, including statements regarding expanded commercialization, the potential XTANDI regulatory approvals in other markets and for other indications and the timing thereof.

The continued clinical development and regulatory approval of enzalutamide and the timing thereof, potential future clinical trial events or results, the therapeutic potential and safety profiles of our product candidates, our collaboration, our future opportunities and milestones, financial guidance for 2013 and operating expenses and capital expenditures.

In addition to our prepared remarks, we may make forward-looking statements in response to questions, including, for example, statements regarding our current and potential future collaborations, and our future financial position and results.

Any statements made in this call that are not statements of historical facts may be deemed to be forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause Medivation's actual results to differ significantly from those projected.

All forward-looking statements made during this call are based on information available to us as of today, and we assume no obligation to update these statements as a result of future events or otherwise.

With that, I'll turn the call over to Dr. David Hung, President and CEO of Medication. David?

David Hung, M.D. - President, CEO and Director: Thanks, Ann. Thank you all for joining us today. Let me start by saying that I am pleased with the strong initial uptake of our first product XTANDI reporting $57.4 million in sales in the first fourth quarter (towards) launch. XTANDI has quickly emerged as an important new option for the treatment of patients with metastatic castration-resistant prostate cancer who have previously received docetaxel.

It is exciting to listen to the enthusiasm that is building around XTANDI and see data presentation that fully support our belief that enzalutamide will play an important role in the current and future treatment of this disease. I am proud of the progress we have made given that just six months ago on August 31, 2012 the U.S. FDA approved XTANDI three months prior to our PDUFA date for the treatment of patients with metastatic castration-resistant prostate cancer who have received docetaxel.

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