Dendreon Shares Still Rising (DNDN)

Shares of Dendreon Corp. (NASDAQ: DNDN) rose nearly 50% yesterday following an announcement that sales of the company’s prostate cancer drug, Provenge, were rising. The pricey drug, which costs $93,000 for a month-long course of treatment, contributed about $82 million to Dendreon’s revenues in the fourth-quarter.

Dendreon shares are up another 6% this morning, at $11.27 in a 52-week range of $6.46-$43.96. Most of the drop from the 52-week high was based on worries about the high cost of Provenge.