My old stock-I-love-to-hate, DNDN, spiked up 8.6% to 6.17 yesterday on news about ... well, color it however you like. If you believe in Provenge, Dendreon's prostate cancer treatment, it's all good. But if you think the news is overdone, you probably agree with Forbes' Ruthie Ackerman
Canaccord Adams analyst Joseph Pantginis said Thursday’s data supports the approach the biotechs’ have been taking in the immunotherapy space, but isn’t necessarily specific to Dendreon.
Pantginis believes the competition from the GVAX prostrate cancer vaccine developed by Cell Genesys (nasdaq: CEGE - news - people ) will not allow Dendreon to get a sizable market share. If both drugs get approved, Pantginis says that GVAX will win out because of logistics, cost and efficacy.
I'm not running, walking or jumping into this inferno. As much as I wanted (and still want) to see Provenge give victims a chance to live longer, to have more hope, the manipulation of the stock was a hard lesson to learn about the whims of the FDA and the street. DNDN may run big on the news, or sink on the pale comparison to GVAX. Either way, there are a lot better stocks — more stable, more growth with less drama — and I'm going to be there rather than in Dendreon.
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