i wonder what will happen to DNDN?.. my friends buy the call to late that DNDN then flushing down to the drain again...pity them....
Approval Letter $9 (50%) Approved $27 (50%) If its a plain approval letter the invest bank s will buy at $7. If the approval letter takes into account of current trial results the MM is willing to buy around $11. The's why DNDN bounced from $11, Take an average you got $9
FDA decides BY May 15. Now the question remains, will they make their statement after hours or during market hours. Nobody likes to have to gamble at holding long overnight for a 50% price increase or decrease.
That isn't really a logical statement. If they decide during the day, they halt the stock. If they decide after close, the stock is effectively halted. So whether you have to wait overnite for a decision shouldn't enter into the equation.
Dendreon Short Sellers Bet Drug Won't Win Approval (Update3) By Luke Timmerman April 27 (Bloomberg) -- Dendreon Corp. shares are being sold short at a record pace as some investors bet the company's experimental prostate cancer drug will fail to win approval from U.S. regulators. About 44 percent of Dendreon shares as of mid-April were sold short, according to Nasdaq Stock Market data compiled by Bloomberg. The sellers are speculating the stock will fall, after tripling since March 29 when advisers to the U.S. Food and Drug Administration recommended approval of the medicine. The drug, called Provenge, is the first of a new class designed to trigger the body's immune system to attack tumors. While Provenge prolonged lives of patients with advanced prostate cancer in one study presented to the panel, the drug didn't meet the trial's primary goal of slowing the spread of the disease. ``Some people are assuming the FDA won't listen to the panel'' because of the discrepancy in the study findings, said David Miller, president of Biotech Stock Research, an independent equity research firm in Seattle. The short-selling is up 28 percent from mid-March and double the amount in January. It's the second-biggest increase on the Nasdaq this month, after ON Semiconductor Corp., a maker of computer chips in Phoenix. Short-sellers try to profit by borrowing stock, selling it, buying back cheaper shares later and pocketing the difference. Shares of Seattle-based Dendreon fell 30 cents, or 1.9 percent, to $15.15 at 4 p.m. New York time in Nasdaq Stock Market composite trading. The shares have almost quadrupled since Jan. 1, the best performance in the Nasdaq Biotechnology Index. Dendreon says it expects to hear May 15 whether Provenge will be released for use in the U.S. The company didn't respond to requests for comment on short-selling of the stock. Advisory Panel The FDA, while usually following the advice of advisory panels of scientists and doctors, isn't required by law to do so. Short sellers say the FDA may counter the advisers' ruling and hold off approving Provenge until results come in from another company-sponsored study. Dendreon has said that trial, measuring survival of 500 men with advanced prostate cancer, could take until 2010 to produce results. ``The short data says to me that people do not believe the panel's decision will be mirrored by the FDA,'' said Jonathan Aschoff, an analyst with Brean Murray Carret & Co. in New York, in a telephone interview. He has rated Dendreon shares ``sell'' since November 2004 and doesn't own any. The stock's price surge reflects the lack of good treatments for advanced forms of the cancer, which is often lethal once it spreads beyond the prostate. The disease kills 27,000 men in the U.S. a year. Doctors say they often try treating terminal patients with Taxotere, a drug from Paris-based Sanofi-Aventis SA. That medicine has side effects and limited usefulness. $1 Billion in Sales Provenge will be Dendreon's first product and may generate $1 billion a year in sales if approved by the FDA. http://www.bloomberg.com/apps/news?pid=2...
And listen to what this Soccer Dad says about his results with the drug: http://www.ktbs.com/ktbs_livevideo_popup.cfm?news_id=1376 So the million (or billion) dollar question is.....approval or not ?