Another Bump Up for Dendreon and PROVENGE (DNDN)
Dendreon Corporation (NASDAQ: DNDN) is surging on news that the Centers for Medicare and Medicaid Services will now cover the infusion costs associated with the administration of PROVENGE. Dendreon noted that this new coverage of PROVENGE is now consistent with all…
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Dendreon Corporation (NASDAQ: DNDN) is surging on news that the Centers for Medicare and Medicaid Services will now cover the infusion costs associated with the administration of PROVENGE. Dendreon noted that this new coverage of PROVENGE is now consistent with all other infused biologics.
The costs associated with administering PROVENGE will now be covered and can be billed separately. More importantly, the CMS decision will retroactively cover claims for costs associated with the administration of PROVENGE effective for dates on or after June 30, 2011. This now takes the average time to pay physicians to 30 days according to the company.
Dendreon shares are up over 8% at $9.03 in pre-market trading with about 55 minutes until the market opens and the 52-week trading range is $6.46 to $43.96.
JON C. OGG
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.