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Dendreon Corp. (DNDN) is scheduled to report its Q2 2012 results on July 30, 2012, after the bell. The street expects EPS and revenue of ($0.59) loss and $85.78M, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from DNDN and the news from its closest competitors.

Dendreon Corp. Revenue and Net Income History

Recent EPS Actuals vs. Estimates

In the last quarter it reported ($0.7) loss per share, failing to meet analyst estimates of ($0.63) loss.

Dendreon Corp. EPS Historical Results vs Estimates

The consensus EPS estimate is ($0.59) loss based on 22 analysts' estimates, up from ($0.79) loss a year ago. Revenue estimates are $85.78M, up from $49.56M a year ago. The median target price by analysts for the stock is $10.79.

Average recommendation: Hold

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On June 12, 2012, Summer Street Research initiated Buy rating for the company.
  • On May 17, 2012, Maxim Group initiated Sell rating for the company.
  • On March 25, 2012, Canaccord Genuity initiated Hold rating for the company.

Latest News

  • On July 3, 2012, Dendreon Corporation announced that John H. Johnson, president and chief executive officer, has assumed the additional title of Chairman of the Board, as of July 1, 2012. Mr. Johnson succeeds Dr. Mitchell H. Gold as Chairman. Dr. Gold will continue to serve as a director. These changes are part of a succession plan previously announced on February 1, 2012.
  • On February 1, 2012, Dendreon Corp announced that its Board of Directors has elected John H. Johnson to the position of President and Chief Executive Officer (CEO), to succeed Mitchell H. Gold, MD, who has served as President and CEO for nearly a decade.

Competitors

Ariad Pharmaceuticals (ARIA), Exelixis (EXEL), Immunogen (IMGN), Progenics Pharmaceuticals (PGNX), and Spectrum Pharmaceuticals (SPPI) are considered competitors for Dendreon and the chart below compares the stock price changes as a percentage for the selected companies for the last one year period.

DNDN Chart
(Click to enlarge)

DNDN data by YCharts

Competitors' Latest Development

  • On July 12, 2012, ImmunoGen, Inc. announced that it has priced an underwritten public offering of 6.25 million shares of its common stock at a price to the public of $16 per share.
  • On July 11, 2012, ImmunoGen Inc announced that it intends to offer for sale its common stock in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
  • On July 11, 2012, ImmunoGen Inc announced the start of clinical testing with its IMGN853 product candidate. The Phase I trial initiated evaluates the safety, tolerability, pharmacokinetics, pharmacodynamics and anticancer activity of this TAP compound in patients with ovarian cancer or other solid tumors that over-express FOLR1 (also known as folate receptor alpha), including non-small cell lung cancer (NSCLC).
  • On July 3, 2012, Spectrum Pharmaceuticals Inc announced the initiation of an international, randomized, placebo-controlled Phase II study evaluating lucanthone in primary therapy for Glioblastoma Multiforme (GBM).
  • On June 18, 2012, Ariad Pharmaceuticals Inc announced updated clinical data from the pivotal PACE trial of investigational pan-BCR-ABL inhibitor, ponatinib, in patients with chronic myeloid leukaemia (CML) or Philadelphia-positive acute lymphoblastic leukaemia (Ph+ ALL), who are resistant or intolerant to dasatinib or nilotinib or who have the T315I mutation.
  • On June 8, 2012, Spectrum Pharmaceuticals Inc and Allos Therapeutics, Inc. announced that Spectrum has provided an additional extension of the offer period in connection with its tender offer to purchase all of the outstanding shares of common stock of Allos for $1.82 per share in cash, without interest and less any applicable withholding taxes, plus one Contingent Value Right, which entitles Allos stockholders to an additional payment of $0.11 per share in cash if certain European regulatory approval and commercialization milestones for FOLOTYN are achieved.
  • On June 6, 2012, Reuters reported that U.S. drugs regulators rejected an experimental sarcoma medicine from Merck and Ariad Pharmaceuticals Inc, asking for more clinical trials, Merck said.
  • On June 4, 2012, ImmunoGen, Inc. announced the presentation of new clinical data for the investigational compound, SAR3419, at the American Society of Clinical Oncology (OTC:ASCO) annual meeting taking place in Chicago, IL. SAR3419 uses ImmunoGen's Targeted Antibody Payload (TAP) technology and is a potential treatment for CD19+ non-Hodgkin's lymphoma (NHL) and other B-cell malignancies.
  • On June 3, 2012, ImmunoGen, Inc. announced results from the trastuzumab emtansine Phase III EMILIA trial conducted by Roche. Trastuzumab emtansine comprises ImmunoGen's DM1 cancer cell-killing agent linked to the trastuzumab antibody developed by Genentech, a member of the Roche Group, using ImmunoGen's method of attachment.
  • On May 25, 2012, Spectrum Pharmaceuticals Inc and Allos Therapeutics, Inc. announced that Spectrum has provided an additional extension of the offer period in connection with its tender offer to purchase all of the outstanding shares of common stock of Allos for $1.82 per share in cash, without interest and less any applicable withholding taxes, plus one Contingent Value Right, which entitles Allos stockholders to an additional payment of $0.11 per share in cash if certain European regulatory approval and commercialization milestones for FOLOTYN are achieved.
  • On May 17, 2012, Spectrum Pharmaceuticals Inc announced the initiation of a Phase II study evaluating ZEVALIN (ibritumomab tiuxetan) Injection for intravenous use + rituximab in combination with motexafin gadolinium (MGd) in patients with rituximab-refractory low-grade or follicular B-cell non-Hodgkin's lymphoma (NHL).
  • On May 10, 2012, Spectrum Pharmaceuticals Inc and Allos Therapeutics, Inc. announced that on May 9, 2012, each had received from the Federal Trade Commission (FTC) a Request for Additional Information and Documentary Material (Second Request) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the acquisition of Allos by Spectrum.
  • On April 5, 2012, Spectrum Pharmaceuticals Inc announced that the two double blind, randomized, placebo controlled, Phase three clinical trials for apaziquone did not meet their primary endpoint of a statistically significant difference in the rate of tumor recurrence at two years between the two arms.
  • On April 5, 2012, Spectrum Pharmaceuticals Inc and Allos Therapeutics, Inc. announced that they have signed a definitive agreement under which Spectrum will acquire all of outstanding shares of Allos for $1.82 per share in cash plus one Contingent Value Right (CVR).
  • On March 21, 2012, Merck & Co Inc and ARIAD Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration's (FDA) Oncologic Drugs Advisory Committee (ODAC) voted 13 to 1 against the use of the investigational agent ridaforolimus as maintenance therapy for patients with metastatic soft-tissue sarcoma or bone sarcoma whose disease has not progressed after at least four cycles of chemotherapy.
  • On February 15, 2012, ARIAD Pharmaceuticals, Inc. announced that the United States Patent and Trademark Office has granted U.S. Patent No. 8,114,874 entitled, Substituted Acetylenic Imidazo[1,2-B] Pyridazine Compounds as Kinase Inhibitors, which provides composition-of-matter patent protection through at least December 22, 2026 for ARIAD's investigational pan-BCR-ABL inhibitor, ponatinib.
  • On January 27, 2012, ImmunoGen, Inc. announced that for fiscal 2012, it expects its guidance to remain unchanged and net loss to be between $78-$82 million.

Technical Overview


The stock has a market capitalization of $1.00B and is currently trading at $6.51 with a 52 week range of $5.69 - $38.31. The stock's year-to-date performance has been -14.28%. It is currently trading below 20, 50 and 200 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Dendreon Reports Q2 Earnings On July 30