Hapoalim Reiterates Hold On Medivation (MDVN)

Hapoalim Securities is reiterating its Hold rating on Medivation MDVN. In a note to clients, Hapoalim writes, "Medivation announced that in the Phase 3 HORIZON Huntington's disease trial, Dimebon failed to achieve statistical significance for either of the co-primary endpoints. Medivation and Pfizer will discontinue development of Dimebon in Huntington disease, but the ongoing Phase 3 CONCERT trial in patients with mild-to-moderate Alzheimer's disease will continue. We were already assigning no value to the Dimebon program and we reiterate our HOLD rating for Medivation." Shares of MDVN is down 8 cents in early Monday trading to $20.03.