UPDATE 1-U.S. FDA clears Dendreon's prostate cancer vaccine Thu Apr 29, 2010 1:14pm EDT Stocks Dendreon Corp DNDN.O $45.50 +5.88+14.84% 10:34am CDT * Product is first vaccine to treat cancer * Dendreon shares jump 15 percent before halt (Adds FDA comment, shares halted) WASHINGTON, April 29 (Reuters) - Dendreon Corp (DNDN.O) won U.S. approval on Thursday to sell a vaccine to treat advanced prostate cancer and the company's shares soared 15 percent. The Provenge vaccine is the first vaccine to treat any type of cancer. The U.S. Food and Drug Administration said it cleared Provenge for use in certain men with advanced prostate cancer. "The availability of Provenge provides a new treatment option for men with advanced prostate cancer, who currently have limited effective therapies available," Karen Midthun, acting director of the FDA's Center for Biologics Evaluation and Research, said in a statement. Unlike traditional vaccines that prevent a disease, Provenge treats prostate cancer by stimulating the body's own immune system to attack malignant cells. It is produced by taking cells from a patient's tumor and incorporating them into a vaccine, which is then injected back into the patient. Dendreon shares jumped 14.8 percent to $45.50 on Nasdaq before they were halted for pending news. (Reporting by Lisa Richwine, editing by Maureen Bavdek, Leslie Gevirtz)
How many times did this thing approve and disaproved then goes back to research again? from my memory, this signal medical item is there approved a few years back. lots of R&D spend.
friking crooks. just heard on cnbc. it costs 93000. and only gives 4 extra months of life. it is not a cure.
i still remember the day a year ago when someone fat fingered and i bought shares at 8 dollars 2 seconds before it got halted. and then it went back up to 27 after the close