The first major hurdle was accomplished, and DNDN should be heading to (at the very least) fair value of 10 or even 20. While Adam Feuerstein painted at least a $27 price tag, there is still some albeit a little, uncertainty around approval for the only fact that a 3rd party has to approve it. And DNDN can not control that 3rd party.
As I have stated before, the FDA has realized it needed to change the way it views such first in class treatments, and I believe their attitude today demonstrates this even more.
Today's vote may also open up ROW (rest of world) partnership talk, which could give even more upside to the stock. In my opinion, the cloud of negativity around Provenge prevented such a partnership. But now there is no such cloud.
Congrats to the PC patients, Dendreon!
Disclosure: Author is long DNDN