Transcript: Mike Huckman/CNBC on Provenge activist ad in Wash Post

Here's the full transcript off the Provenge/activist ad segment during "Closing Bell." And yes, I like typing up transcripts when Mike Huckman talks about Dendreon. He's been the most consistent and balanced member of the media when it comes to Provenge. By far.

Closing Bell, Monday, July 16, 2007

Melissa Francis: Investors in a volatile biotech stock are taking their case to Capitol Hill to reverse a controversial FDA decision and their fortune. Their effort doesn't seem to have made much of a difference in the shares of Dendreon today. Take a look at that. They closed the day unchanged. CNBC's pharmaceuticals reporter Mike Huckman joins us now with the latest episode in this soap opera. Mike?

Mike Huckman: That's right, Melissa, a soap opera it is. In this post-Vioxx era, it has become pretty commonplace over the last few years for consumer advocates to launch campaigns to get drugs taken OFF the market, but this is case where a different category of activists is pushing to get a drug put ON the market. (close-up of ad, "DYSFUNCTION AT THE FDA") A group of about 150 investors, patients and their advocates ponied up 24 grand to buy this no-frills, half-page ad in yesterday's Washington Post. It recaps the results of the clinical trials for Dendreon's controversial prostate cancer drug, Provenge, the favorable FDA advisory committee recommendation and subsequent negative decision by the FDA. And it's urging Congress to demand the agency to reconsider. Dendreon investor Arnie Mass spearheaded the fundraising campaign for the ad because he says, time isn't just money here; it's lives.

Arnie Mass: The mistake by waiting is about 30,000 deaths a year of patients who have prostate cancer. These patients can LIVE. We already have evidence of patients living (clears throat) beyond six years that ordinarily would die in 19 or 20 months, so to wait three years is another 90,000 patients that are gonna die.

Mike Huckman: Mr. Mass is referring to the fact that Dendreon says the FDA wants more data about whether Provenge, indeed, extends patients' lives. Preliminary results won't be available, though, until at the earliest, the middle of next year, and complete results are not expected for another two to three years. A Dendreon spokesperson said the company had nothing to do with this ad and that nobody at the company saw it until it ran in the Washington Post yesterday. Last week, Melissa, Dendreon did disclose that the SEC is now doing an informal inquiry into the Provenge clinical trials. Back to you.

Melissa Francis: Wow, what a story. OK, Mike Huckman, thanks so much.

Disclaimer: Pupule Paul is long DNDN.