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Health and Healthcare

Dendreon Controversy Continues (DNDN)

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By Douglas A. McIntyre Updated Published
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Dendreon Corporation (NASDAQ: DNDN) was halted today at 13:27:02 ahead of the data embargo due at 2:00 PM EST.  The data for its key Phase III IMPACT study for PROVENGE as a last line of defense in advanced prostate cancer patients is out.  The company said that the median survival rate was extended by 4.1 months to 25.8 months, and the drug increased the 3-year survival rates by 38% compared to the placebo.  The company also reported that there was a 22.5% reduction in the risk of death (31.7% versus 23.0%), which is above that 22% hurdle that the company has said would be required for an FDA approval.  It also exhibited a favorable safety profile and represents the first active cellular immunotherapy for cancer to prolong survival by using the bodies own immune system against cancer.

Full study results are here, and the conference call will take place at 5:30 PM EST (4:30 PM Central Time).  After the pre-halt trading saw a rapid 45% drop and without knowing if NASDAQ is honoring trades around the halt time, there is a high chance that this stock’s volatility is going to be present for some time.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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