This Day On The Street
Continue to site
ADVERTISEMENT
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

J&J Prostate Cancer Drug Scores Big Win, Hurts Dendreon, Helps Medivation

Dendreon, in anticipation of potential competition from J&J and/or Medivation, has started clinical trials attempting to show that Provenge can be given in sequence with drugs like Zytiga or MDV3100 to further benefit patients.

Deutsche Bank biotech analyst Robyn Karnauskas was quick to come to Dendreon's defense, calling the Zytiga news "more of a negative headline risk" that shouldn't hurt Provenge sales in the long run.

"As per doctor checks, we believe Provenge and Zytiga will be sequenced and both will be used," said Karnauskas in an email note to clients. She has a buy rating on Dendreon.

Investors Thursday were clearly not as sanguine on Dendreon's future.

On Twitter, widely followed cancer-drug consultant Sally Church (@MaverickNY) tweeted, "the threat from Zytiga and MDV3100 to Provenge was a no brainer -- we've all written about that."

@ahlstrac tweeted, "I could see $DNDN at $5 soon. They will continue to sell Provenge but will they ever be profitable? $500-$700M mkt cap co IMHO."

--Written by Adam Feuerstein in Boston.



>To contact the writer of this article, click here: Adam Feuerstein.

>To follow the writer on Twitter, go to http://twitter.com/adamfeuerstein.

>To submit a news tip, send an email to: tips@thestreet.com.

Follow TheStreet on Twitter and become a fan on Facebook.

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.
2 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
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG
DNDN $0.06 -6.02%
JNJ $102.03 -1.50%
MDVN $130.87 0.45%
AAPL $132.02 1.50%
FB $80.68 0.16%

Markets

DOW 18,282.20 -3.54 -0.02%
S&P 500 2,130.82 +4.97 0.23%
NASDAQ 5,090.7940 +19.0510 0.38%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs