Dendreon Provenge Results

Well my last post discussed Dendreon and it's potential with Prostate treatment Provenge so I thought I'd provide an update. When I posted last the stock had risen from under $3 at the beginning of March to close Friday April 17th @$17.99 in anticipation of it's long awaited phase three clinical results on April 28th. The stock plummeted in the last 3 minutes of trading before the results were released for no reason other than market manipulation that is being investigated still. For those who didn't have a stop limit order in place (thankfully I didn't) the results were good and when trading resumed the next day, the stock was back in the $20's. It shows how volatile and manipulated the market can be and it's definitely not for the weak of heart. The manipulation had nothing to do with the science or company but short selling traders and market manipulators that were able to take advantage of the frenzied trading on the day of the results. There is a possibility that the sudden manipulation will be uncovered and those who performed illegal transactions will be prosecuted. One can only hope.

In any event, the scientific results of the clinical study were positive and met the criteria set forth in the study. Basically, those on Provenge had a 4.1 month increase in the survivability than those on the placebo. In comparison this was about a month longer than those who receive the currently used chemotherapy treatment. In addition, Provenge has none of the horrific side effects normally associated with chemotherapy so it adds the benefit of quality of life. This could potentially be the start of real vaccine treatment for cancer. It is not a cure for cancer but definitely a step in the right direction in my opinion. The humanitarian benefit far exceeds any monetary one.

For disclosure... I previously stated that I sold enough of the shares I had in the company (average price per share for my investment was under $5) in the high teens so that the rest was basically free money. I am maintaining my long position on this stock and will let it ride (at least until the new Camaro's are rolled out:-). I believe that the FDA will approve the treatment sometime in 2010 and the company is well positioned and a possible target for a buy out by a large pharmaceutical company. As of this posting, stock is trading around $21 per share. As with any post, this is all based on my personal opinion and my approach to the stock market. Everyone should perform their own research and proceed as their own personal needs determine.

Best of luck to all