This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Dendreon Shares Soar on Provenge Data

Dendreon's (DNDN) prostate cancer vaccine Provenge appears to cut the risk of death compared with a placebo, but the interim results were not robust enough to stop the ongoing clinical trial early.

Investors focused on the promising Provenge survival data Monday morning and looked past the disappointment that Dendreon would be unable to seek early approval for the experimental cancer vaccine.

Shares of Dendreon were up 65% to $8.58 in recent trading.

Monday's results came from an interim analysis of a phase III study of Provenge in patients with advanced prostate cancer. An independent data monitoring committee informed Dendreon that the study should continue to a final analysis planned for the middle of 2009.

At the same time, however, the data crunchers reported that prostate cancer patients treated with Provenge had a 20% reduction in the risk of death compared with patients treated with a placebo.

If Provenge can reduce the risk of death by 22% compared with placebo at the final analysis, the study will be successful, Dendreon said Monday.

In previous studies, Provenge has been shown to have a delayed positive impact on survival. And so far, patients in the ongoing Provenge study, dubbed IMPACT, are acting very much like patients in the old Provenge studies. These two factors prompted Dendreon CEO Mitch Gold to call today's results "encouraging."

"We're looking forward to seeing the final results next year," he said.

Provenge's ability to reduce the risk of death by 20% looks impressive at the interim analysis, but the result was neither statistically significant nor strong enough to stop the study early. Achieving a 22% reduction in the risk for death at the final analysis -- and making that result statistically significant -- could still be a struggle for Dendreon.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DNDN $0.06 -6.02%
AAPL $124.43 -1.54%
FB $82.22 -1.18%
GOOG $548.00 -0.73%
TSLA $188.77 -0.94%


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs