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Dendreon (DNDN -1.6%) slips after Maxim downgraded the shares to Sell today, citing concerns...

Dendreon (DNDN -1.6%) slips after Maxim downgraded the shares to Sell today, citing concerns over Provenge sales. The firm also lowers its price target to $4.00.
Comments (3)
  • Theodore Cohen
    , contributor
    Comments (1898) | Send Message
    There is NO study on the use of Provenge post-chemo. Provenge is approved prechemo. They put together the fact that Xtandi was only approved post-chemo with the data on the one patient who did well with Provenge after Xtandi to come to that conclusion about the combination. This piece by Maxim is flawed in the extreme. It is totally lacking in an understanding of the underlying fundamentals.
    14 Feb 2013, 01:10 PM Reply Like
  • zappel26
    , contributor
    Comments (8) | Send Message
    Ted, thanks again for all the killer articles, comments, and so on. Can't believe how much DNDN's stock price was beaten up this week. Anyway, I share the same feeling on the Maxim downgrade.
    Absolutely love the science behind DNDN. Would think stock price would get it together at some point. Look forward to next week's CHMP date and early indication on EU approval. Finally, earnings call, too.
    Thanks again.
    16 Feb 2013, 12:55 AM Reply Like
  • Theodore Cohen
    , contributor
    Comments (1898) | Send Message


    Last week's action was all about options. The stock price will reflect the value behind the science when quarterly revenue reaches $100 million (cashflow breakeven) and COGS drop to 30-40%. That's what the Street is waiting to see.


    We already know how 4Q12 shaped up revenue-wise, but one never knows what tidbits might be revealed later this month.


    Be well.


    16 Feb 2013, 07:04 AM Reply Like
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