Over the last week investors have been grabbing shares of Dendreon as buzz circulates that the Seattle developer is preparing to reveal pivotal data on its pioneering cancer vaccine at an upcoming conference.
The American Urological Association has set aside time for a potential presentation on Dendreon's late-stage data on April 28, sending the company's shares sky-high late last week. If the data is positive, Dendreon would be prepared to file for an approval, potentially making Provenge the first new therapy designed to trigger an immune response to combat cancer. Provenge is being tested as a therapy for prostate cancer.
There has been intense interest in the late-stage trial of Provenge. So perhaps it should have been no surprise that a move to nail down time for a potential late-breaker session at a prominent conference should trigger a big rise in the developer's share price. But Xconomy's Luke Timmerman has also noted that there has been no shortage of twists and turns in the Provenge saga over the past two years. A positive ending at this stage would be an enormous boon to Dendreon. But if investors are left dissatisfied by the data, the situation will turn ugly fast.
- check out the AP report
- read the analysis from Xconomy