real-time news and commentary for investors
Tuesday, Sep 17
Dendreon's Provenge approved in Europe, shares jump
- The European Commission has granted Dendreon (DNDN) marketing authorization for its Provenge treatment for prostate cancer, with the approval also including Norway, Iceland and Liechtenstein.
- It's a rare ray of sunshine for Dendreon, which seems to have few fans on Wall Street these days amid poor sales for Provenge. In June, Wedbush analyst David Nierengarten predicted that even with EU approval, the drug has little chance of success.
- Notwithstanding, shares are +12.1%. (PR)