DNDN: Dendreon Corp (DNDN)

Dendreon (DNDN) Late in March, its shares tripled after an FDA committee declared that Provenge, Dendreon's drug for prostate cancer, should be approved quickly because there was substantial evidence that it is safe and effective,but a final decision on May 15th by the FDA overruled the staff's recommendation,and shares plummeted. This month several members of Congress questioned the FDA's review of Dendreon Corp.'s (DNDN) prostate cancer treatment Provenge saying that two panel advisors had financial ties to Dendreon rivals. An investigation into the panel's rejection Provenge was requested sending shares of the biotechnology firm soaring. I believe the speculation on the stock will send the stock into the double digits fast. After the U.S. Food and Drug Administration rejected the company's main product,Provenge. Dendreon was facing years of work to get the prostate cancer treatment to the market,but with an investigation years could potentionaly become months.Provenge is revolutionary drug because it aims to teach the body's own immune system to attack tumor cells.The FDA issued an approvable letter, saying that Provenge could be approved in the future if Dendreon passes more hurdles.The hurdle looks like the two panel FDA advisors. The original claim by the FDA to turn down the drug was because they wanted more data from clinical trials,and also wanted more information about how Provenge is manufactured.In late March a panel of FDA advisers voted 13-4 that there was substantial evidence that it was effective, potentially paving the way to approval,because the FDA usually follows the advice of such panels. In summary play the speculation on DNDN.Remember for there to be an public investigation,there was a private investigation into why the drug was turned down.