I have finally gotten around to writing about some of the annual reports I have sifted through in the past month. The first one I am writing about today is Dendreon, one of my Top Ten Stocks for 2009.
Dendreon had a nice 2007 as far as its pipeline was concerned. The company submitted Provenge to the FDA office of Cellular, Tissue and Gene Therapies Advisory Committee. That committee passed Provenge with a 17-0 annonymous vote and deemed Provenge "Reasonably safe". In March of 2007 Dendreon submitted Neuvenge, a drug that will be used in relations to breast cancer, into Phase I trials. This drug Neuvenge could also later be used for ovarion, colon, and bladder cancers based on its formation.
The company has CEA in preclinical trials. This targets lung cancer, colon cancer, and breast cancer. CA9, another preclinical drug, is aimed at a protein found in 75% of cervical cancer, and 95% of renal cancers.
TRP, an iron channel that regulates flow of iron in cells could be made into a pill by the company, and is likely to be sent as an IND in 2009.
The first phase III trial of Provenge demonstrated median survival benefit with Provenge of four and a half months and an amazing 41% reduction in death. In the same study it was found that 34% of patients were alive 36 months after the trial, compared with 11% of the placebo control groupl.
The lead doctor of the Impact study of Provenge has 21 years of practice and is a Harvard Professor of Medicine.
The company Dendreon has no revenue and as stated by the Risk Factors in the Annual Report, it is highly dependent on the FDA approval of Provenge.
The stock traded as high as $25.25 in 2007 and can now be bought for a fifth of that price per share. The company is now reporting that April will be the key month to watch for a report on Provenge.
I recommed the stock as a Speculative buy. I do not own shares of the company at the time of this writing but will be looking at adding some under the $5 range from now until March.
Provenge will pass trials, it will save lives. The company will have an amazing drug and will get bought out.