Seeking Alpha

Saul Kerpelman's  Instablog

Saul Kerpelman
Send Message
I am an attorney in Baltimore, Md., representing children with lead poisoning. I have been investing in biotech for over a decade. I have an A.B. from Vassar College '76, Phi Beta Kappa; J.D. from Duke Law School '79; M.S. from Johns Hopkins University '08.
  • Dendreon Is Not In Trouble! 10 comments
    Aug 10, 2010 12:24 PM | about stocks: DNDN
    Just a short note to counter the shameful "article" by Brian Orelli over on Motley Fool yesterday evening, with what one can only characterize as the intentionally misleading headline of "Dendreon's in Trouble".

    Unfortunately unlike this blog on Seeking Alpha, such dreck on Motley Fool routinely makes it onto the wires and also onto the Yahoo headlines for the subject stock--and so can have an effect on the share price and on market sentiment about a company. It's sad but true that a scary headline like that can trigger some to sell first and ask for actual facts later.  It's probably not a coincidence that Dendreon shares are trading down as I write this.  I have to admit that even I, who totally stay on top of developments at Dendreon because I am invested in the company, hurriedly clicked on the headline in Yahoo to see what, if anything new, was up.

    Anyway, the truth is that Dendreon is not in any kind of trouble and that those who read Orelli's post past the irresponsible headline would have found out that he was writing about the old news (August 3) that the FDA had sent Dendreon a warning letter that it didn't like some of the material in a promotional brochure about Provenge that sales reps were leaving with doctors--such horrible stuff as not including the confidence interval in the p value of the survival advantage Provenge demonstrated in its pivotal study.  

    All Pharma companies get such letters for approved treatments and the cure is to pull the offending material and replace it with material that pleases the anal nit pickers at the FDA.  Normal sales force nuisance stuff.

    The incident does, however, shine a light on another phenomenon--websites gratuitously or even maliciously including references to hot stocks like Dendreon just to get hits.  In this brave new internet world in which any schmoe can become a "journalist" just by widely publishing on the internet, there is a very real danger of harm being done by un-policed posters who have no familiarity with journalistic ethics or responsibilities and will publish whatever they need to publish to get eyes on their stuff.

    Com'n Motley Fool!  Allowing that headline when you know it will panic some and mislead?  And knowing it's wrong?

    Shameful. 

    Disclosure: Long Dendreon
    Themes: Biotech Stocks: DNDN
Back To Saul Kerpelman's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (11)
Track new comments
  • gloriason
    , contributor
    Comments (39) | Send Message
     
    Well Saul you took the words right out of my mouth. When I read the Motley Fool article, I immediately had the same reaction as you - why did Motley Fool allow the misleading headline on their website? Only one reason, increased hits on their site. Is there no such thing as INTEGRITY? Thanks again for getting the real facts out for Dendreon.
    10 Aug 2010, 12:36 PM Reply Like
  • nunbid
    , contributor
    Comments (79) | Send Message
     
    Questions I have about that typical TMFFluff:

     

    1) Did Orelli or his "editor" pick out that headline?

     

    2) Orelli's reasonably fair and tame compared to most TMFClickWhore's. He's got a PhD (UofChi) with published papers from his time in school at UofChi listing him as involved in Radiation oncology. What does he do now in San Diego? Work for a DNDN competitor? Work in the field that Provenge is threatening? Completely wasting his education by working full-time as a TMF "Ask a Question in a Headline or Exaggerate for Clicks" novice? He says he hold no shares but as we all know now on DNDN there's more subtle ways to have a conflict of interest

     

    3) Is he the Wikipedia editor who identifies himself as a radiation oncologist who recently took out all positivie information and inserted only Longo's edited negative snippets into the "Provenge" article on wikipedia?
    10 Aug 2010, 12:42 PM Reply Like
  • hemomiracle
    , contributor
    Comment (1) | Send Message
     
    How can a company with months worth of backlogged orders and limited production facilities be "in trouble" if they have to edit some of their promotional material? The answer is, they can't! Incompetence or dishonesty? You make the call.
    10 Aug 2010, 01:09 PM Reply Like
  • grrr
    , contributor
    Comments (13) | Send Message
     
    Thanks Saul.

     

    Motley Fool is for fools.
    10 Aug 2010, 01:31 PM Reply Like
  • robtcheng
    , contributor
    Comments (4) | Send Message
     
    Information on Motley Fool has no value. I know that for many years. Saul, thanks for putting them in the right place.
    10 Aug 2010, 01:47 PM Reply Like
  • Prufrock
    , contributor
    Comments (5) | Send Message
     
    I was a TMF member for several years until I ran into smear pieces on stocks that I happened to follow. Because I followed the stocks and was knowledgable about them I fully realized that the articles were hit pieces where TMF was shilling for opponents of the stocks in question. At first it made me mad, and I wrote counter essays debunking the junk. That was a waste of time because the powers to be at TMF, the Gardner bros. could care less about ethics. They have nothing but contempt for the facts. They would sell their souls for a penny. They never for one minute stopped to factcheck anything they publish. The hit piece on Dendreon was probably paid for by some hedge fund trying to profit from a sell off of DNDN stock. It's sickening how many of these consciousless clowns are out there, and how they profit from their lies. Thanks for getting the truth out there!

     

    JMOS

     

    Prufrock
    10 Aug 2010, 01:51 PM Reply Like
  • windowlite
    , contributor
    Comments (4) | Send Message
     
    Saul ...

     

    Thank you for explaining the FACTS about what's going on with the latest 'minor' and 'common' FDA request, and also - for being so bold as to place light on the source of the latest misleading information! Obviously Brian has an agenda for wanting to throw as much negativity into 'one' headline, as he can!

     

    The fact is - as you made clear in your article ... that MOST Pharmas with new products - at one point, will get a hand slap by the FDA, about what they say about their latest product... According to someone who has worked in many different Pharmas - The same thing happened in ALL of them!! It's 'common place'!

     

    For these so-called reporters, bloggers, etc.. to keep harping on something that "anyone" in the Industry "KNOWs" is as little as a "yawn" - just further exposes theses types of articles as having been written by people who are either captured - or have their own agenda.

     

    There's a law about yelling Fire in a crowded theater .. There should be one about doing basically the 'same' thing to a Stock by lying or twisting the facts !!
    10 Aug 2010, 02:27 PM Reply Like
  • opa11111
    , contributor
    Comments (7) | Send Message
     
    Thanks for the clarification, as far as I can tell he was factual but not complete. Its only the headline is what you're upset about.
    10 Aug 2010, 08:50 PM Reply Like
  • spek
    , contributor
    Comments (17) | Send Message
     
    Shorts gotta eat too, Saul. I'm LONG DNDN and have been for many years. I no longer click these "articles" because most are crap.

     

    Stop feeding the beast, stop clicking anything to do with the fool or any other crap source on the internets :)
    11 Aug 2010, 01:21 PM Reply Like
  • KitCat26
    , contributor
    Comments (2) | Send Message
     
    The Fool is seeking hits - just like everyone else publishing on the Internet
    11 Aug 2010, 08:37 PM Reply Like
Full index of posts »
Latest Followers

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.