Michael Shulman submits: I clearly ruffled some feathers with my write-up of Dendreon (DNDN), mostly those of Dendreon bulls, many of them traders who know little if anything about the company. They accused me of everything from being a moron to a child molester because I said an approval for Provenge was not a slam dunk. So let me make myself very clear.
By Brian L. Wilson:One of the most surprising turnaround stocks in the biotech sector this year is Dendreon (DNDN), which has moved up over 20% since the start of the year and seems to actually be gaining some bullish traction. Today, we will be taking a look at Dendreon to gauge its new valuation in light of the most recent developments and upcoming catalysts for the stock.
By William Meyers: Back on April 29, 2010, Dendreon (DNDN) announced that Provenge had been approved by the FDA. That day Dendreon opened at $40.09 and closed at $54.58. On March 6, 2009, it had opened at $2.77 per share. Friday DNDN closed at $4.45. Was FDA approval really that meaningless?
By Brian L. Wilson:It's been a rocky road, to say the least, for Dendreon Corporation (NASDAQ: DNDN) and its investors.DNDN stock has been one of the most disappointing investments of the past few years, with 56% in losses within the last 12 months and roughly 80-90% in losses for investors who bought after the approval of Provenge - the company's flagship product.
Michael Shulman submits: Dendreon (DNDN) investors – and traders long the stock – got what they wanted yesterday with the FDA approval of their treatment for advanced metastatic prostate cancer, Provenge.
Dendreon Corporation (DNDN) filed for Chapter 11 bankruptcy protection early morning Monday on the failure of its only drug Provenge, leading the company to restructure soon-to-be-due $620 million convertible debt.
The company’s stock lost over 80% during trading Monday and another 16.5% yesterday on the news.
In its reorganization plan, the company will either sell itself off or emerge as a standalone company with stocks being issued to creditors.
By Theodore Cohen:Georgia Health Sciences University (GHSU), in collaboration with Dendreon Corporation (DNDN), recently initiated a new Phase 2 study under the direction of Principal Investigator Samir N. Khleif, MD, employing Dendreon's Provenge and two drugs shown to shrink tumors.