Dendreon Shares Losing House Committee Hope (DNDN)

CNBC’s Mike Huckman just announced what is going to be a disappointment for Dendreon (NASDAQ: DNDN) holders, and that may be an understatement.  The House Committee will not be forcing any action or pressing the FDA over Dendreon’s PROVENGE until FDA makes a final decision, and that could be one to three years away.  There had been hopes that the committee would uncover conflicts of interest that have been alleged by many hopeful patients and investors alike.  That doesn’t look to be in the realm of possibilities now.

As a reminder, there is still hope that the EU might actually save it when the FDA wouldn’t.

Dendreon shares are now down over 7% to $5.37, and its 52-week trading range is $3.57 to $25.25.

Jon C. Ogg
February 13, 2008