Dendreon Runs to Daylight

David Miller, who runs the Biotech Stock Research newsletter, suggested Friday that the FDA might make Provenge approval contingent on completion of enrollment in the phase III study. (Dendreon said Thursday that about 400 patients out of 500 are already enrolled.)

This is an interesting idea, because it would balance the needs of those who want a guarantee of more clinical data on Provenge with those who want the drug on the market as soon as possible.

Miller, by the way, deserves a hearty congratulations for his longtime bullishness on Dendreon. I've known him for years, and we've often disagreed about biotech stocks, but his research on Dendreon and Provenge has been spot-on. Well done, David.

Of course, Miller won't be happy or totally right about Dendreon until the FDA's approval stamp hits the Provenge application. There is still a bit of time before that takes place, and given the stock's history, the wait could be an interesting ride for investors.