Dendreon gains on CNBC tout
Shares of Dendreon Corporation (Nasdaq: DNDN) are climbing in pre-market trading after analysts on CNBC's Fast Money show recommended the biotech company’s stock late Thursday.
Analysts on the show said the small cap is expected to disclose preliminary data on prostate cancer drug Provenge mid-year. One analyst speculated that if the data show Provenge prolongs the lives of patients, it could receive approval from the U.S. Food and Drug Administration. Another analyst said an approval would be huge and that the stock could return to the $20 level if that occurs.
Shares of Dendreon (DNDN) gained $0.38, or 6.14%, to $6.57 ahead of the opening. Shares of Dendreon have been trading in the range of $3.57 to $25.25 for the past 52 weeks.
