Pfizer has moved closer to closing its $14-billion acquisition of Medivation, a San Francisco-based biopharmaceutical company with the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The closing of the tender offer remains subject to other customary closing conditions, including the tender of a majority of the outstanding shares of Medivation common stock. Pfizer agreed to acquire Medivation in August 2016 for $81.50 a share in cash or approximately $14 billion. Medivation is focused on developing small molecules for oncology. Medivation has a late-stage oncology pipeline, which includes two development-stage oncology assets, talazoparib and pidilizumab. Talazoparib is currently in a Phase III study for breast cancer gene (BRCA)-mutated breast cancer.