Dendreon Shares Still Rising (DNDN)
Shares of Dendreon Corp. (NASDAQ: DNDN) rose nearly 50% yesterday following an announcement that sales of the company’s prostate cancer drug, Provenge, were rising. The pricey drug, which costs $93,000 for a month-long course of treatment, contributed about $82 million…
Shares of Dendreon Corp. (NASDAQ: DNDN) rose nearly 50% yesterday following an announcement that sales of the company’s prostate cancer drug, Provenge, were rising. The pricey drug, which costs $93,000 for a month-long course of treatment, contributed about $82 million to Dendreon’s revenues in the fourth-quarter.
Dendreon shares are up another 6% this morning, at $11.27 in a 52-week range of $6.46-$43.96. Most of the drop from the 52-week high was based on worries about the high cost of Provenge.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.