New Cancer Vaccine the Next Dendreon?
BOSTON ( TheStreet) -- Think all cancer vaccines are, or will be, successful? Think again.
Before there was Dendreon (DNDN) and its just-approved prostate cancer vaccine Provenge, there was Cell Genesys and Favrille, CancerVax and Genitope (GTOP.PK). All tried to develop cancer vaccines, all failed.
Dendreon's stock price is surging; those other four cancer vaccine companies -- not so much. Favrille and CancerVax are no longer with us. Genitope exists in pink sheet purgatory. Only Cell Genesys managed to survive, sort of, by selling itself to BioSante Pharmaceuticals (BPAX), a small drug company better known for trying to develop a female Viagra.
Dendreon is a great success story and proves that patience and perseverance can pay off in the fledgling field of cancer immunotherapy. But let's not also forget that Dendreon is a lonely winner surrounded by a crowd of cancer vaccine losers.In the next weeks and months, investors are going to be enticed by drug companies crawling out of the woodwork with claims that they're working on the next Provenge. That's an easy thing to say, much tougher to actually accomplish.
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