Drugmaker Medivation posts loss as expenses jump

(Reuters) – Drugmaker Medivation Inc returned to recording a quarterly loss after a rare first-quarter profit as expenses rose, sending its shares down 3 percent after market. April-June net loss narrowed to $5.5 million, or 15 cents per share, from $9.5 million, or 27 cents per share, a year earlier. Revenue, which Medivation generates mostly through collaborations with Astellas Pharma Inc, more than doubled to $42.9 million, boosted by $35.6 million of deferred revenue from ending a drug development deal with Pfizer Inc. …