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A biotechnology company focused on the discovery, development and commercialization of novel therapeutics that harness the immune system to fight cancer.
Wow. I haven't followed Dendreon closely since I predicted incorrectly that their repeat phase III trial of Provenge would fail. I maintained some skepticism about the commercial potential of Provenge, but after CMS decided to reimburse it I was ready to throw in the towel. Now management suddenly announces that sales are much lower than expected and has yanked future guidance. Let the lawsuits begin.I think the stock is oversold in the short-term and likely would have rebounded if the indexes hadn't shed 4% today. The company still has more than 700M in the bank and 50M in sales is not exactly garbage. Again, I've lost familiarity with this company but I think they have a good chance at recovery when some optimism returns to the market. CAPSv only play, for sure.
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