Dendreon (Nasdaq: DNDN) shares fall after 1Q earnings report

Shawshank, VA 5/8/12 (StreetBeat) – Dendreon (Nasdaq: DNDN) tumbled more than 12 percent in premarket trading Tuesday after the drug developer reported a loss and what an analyst described as "modest growth" for the company's only marketed product, the prostate cancer treatment Provenge.

The Seattle company posted a loss of $103.9 million, or 70 cents per share, after the markets closed Monday. That compares with a loss of $112.8 million, or 78 cents per share, in last year's quarter.

Excluding severance expenses, the loss amounted to 59 cents per share. Total revenue, which consisted almost entirely of Provenge sales, jumped to $82 million from $27 million.

Analysts surveyed by FactSet expected, on average, a loss of 67 cents per share on $81.7 million in revenue.

The Food and Drug Administration approved Provenge in April 2010. Dendreon said it increased the use of Provenge in large, community oncology and urology practices in the first quarter, and it added 128 infusion sites. It also said its operating expenses soared 31 percent to $172.6 million, as the cost of product revenueclimbed.

Dendreon had about $559.1 million in cash, cash equivalents and short- and long-term investments at the end of the quarter compared to $617.7 million at the end of last year.

Citi analyst Dr. Yaron Werber said that Provenge sales came in slightly above analyst expectations, but the drug faces competition from new treatments like Zytiga.

"We continue to be concerned with the risk/reward of the stock and believe the only upside comes from potential acquisition," Werber wrote.

Shares of Dendreon Corp. fell $1.43, to $10.26 before the market opened.

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Dendreon (Nasdaq: DNDN) falls on 1Q Provenge forecast

Northern, WI 2/27/12 (StreetBeat) -- Shares of Dendreon Corp. (Nasdaq: DNDN) tumbled Monday after the company forecast disappointing first-quarter sales of its prostate cancer therapy Provenge.

Dendreon reported its fourth-quarter results Monday, saying it earned $38.1 million, or 26 cents per share, in the December quarter. In the fourth quarter of 2010 it lost $91.8 million, or 64 cents per share. Revenue climbed to $202.1 million from $25 million as sales of Provenge totaled $77 million. The company also got $125 million after selling its royalty interest in Merck & Co.'s hepatitis C drug Victrelis to CPP Investment Board, which manages funds for the Canada Pension Plan.

Analysts expected Dendreon to report a loss of 36 cents per share and $76 million in revenue, according to FactSet.

The company reported $64.3 million in Provenge sales during the third quarter. The drug was approved in April 2010, and sales have been growing more slowly than Dendreon and Wall Street initially expected.

Dendreon President and CEO John Johnson said sales in the fourth quarter were better than expected, but he said the strength came from some patients starting treatment in December instead of January, which will hurt the company's first-quarter results.

"As we look at January, given the end of the year holiday office closures, the physicians saw fewer patients," he said during a conference call with analysts and investors. "Based on the schedules thus far, we expect our first quarter will have minor growth in a low single-digits."

Analysts expect Dendreon to report $83.6 million in revenue in the first quarter, which represents growth of around 9 percent from the fourth quarter.

Shares of Dendreon sank $2.85, or 19 percent, to $12.01 in midday trading.

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Dendreon (Nasdaq: DNDN) shares climb after sales info release

Palm Beach, FL 1/6/12 (StreetBeat) -- Shares of Dendreon Corp. (Nasdaq: DNDN) jumped again on Friday, a day after the drug developer said sales of its prostate-cancer therapy Provenge kept growing in the fourth quarter.

THE SPARK: The Seattle company announced Thursday before markets opened that Provenge revenue climbed to $82 million in the quarter, better than the projections of several analysts. That represented a 25 percent increase over sales in the previous quarter and more than triple the drug's total from the fourth quarter of 2010.

The drug's annual revenue total of $228 million fell far below an old forecast for $350 million to $400 million that Dendreon withdrew in August.

THE BIG PICTURE: Provenge is used as a treatment for prostate cancer that has not responded to previous therapies. The drug is designed to train a patient's immune system to fight the cancer. It was approved in April 2010, and it is the company's only marketed product.

A round of treatment with Provenge costs $93,000, and Medicare conducted a long review of the drug before deciding to cover it in June.

THE ANALYSIS: Wedbush analyst David M. Nierengarten said the better-than-expected sales appear to be driven by an unexpectedly large jump in the number of clinics signed up to infuse Provenge. He expects a return to more moderate, quarter-to-quarter growth rates of less than 10 percent in the coming quarters.

"It is likely that the incremental clinics represent the 'waiters' who watched how their peers established reimbursement practices," Nierengarten wrote in a Friday morning research note.

William Blair analyst Y. Katherine Xu said Provenge could face tough competition if other options like Johnson & Johnson's Zytiga receive regulatory approval.

"Despite encouraging growth in the fourth quarter and a potential upswing in early 2012, we continue to be concerned with Provenge's eventual potential and profitability, and believe the surge in the stock today based on the fourth-quarter (announcement) is unjustified," the analyst wrote in a Thursday research note.

SHARE ACTION: The stock jumped about 40 percent Thursday to close at $10.62. Shares then climbed another 7 percent, or 75 cents, to $11.37 Friday morning while broader trading exchanges were down slightly.

Dendreon shares traded above $30 for much of 2011 before they plunged in August after the company withdrew its 2011 revenue forecast, citing reimbursement concerns.

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Dendreon Corp's (Nasdaq: DNDN) Shares Crushed Again

Tallahassee, FL 11/3/11 (StreetBeat) --Dendreon Corp. (Nasdaq: DNDN), maker of the prostate-cancer drug Provenge, plunged in early trading after the company said it expected “modest” fourth-quarter sales of the therapy. Shares fell 26% to $7.68 at 8:49 a.m.

Provenge revenue rose 5.6 percent in October to $26.4 million, from a month earlier, and November’s sales will be “slightly below” than October’s, Mitchell Gold, chief executive officer of the Seattle-based company, said on a conference call yesterday.

“They do have modest growth, but that isn’t sufficient for street expectations,” said David Nierengarten, an analyst with Wedbush Securities Inc. in a telephone interview. “They’re in a race now to try to get profitable. So the more modest the growth gets, the more likely it is they are going to lose that race before they need to go find some new money.”

Provenge was approved in April 2010 as the first therapy in the U.S. that trains the body’s immune system to attack cancer cells as if they were a virus. The treatment, which costs $93,000, was cleared for patients with advanced cases of the disease after the company’s three-year effort to persuade the Food and Drug Administration to back the medicine.

Dendreon initially estimated 2011 sales may reach as high as $400 million. When doctors didn’t prescribe the medicine as quickly as expected, the company withdrew its revenue estimate in August, and in September said it would cut 25 percent of its workforce.

The company’s shares have declined 70 percent this year before today. “I tell everyone in our company we can’t focus on our stock price, we have to focus on the most important element of what we do, which is deliver an important product to patients,” Gold said in an interview. “Commercial companies are certainly under a tremendous amount of scrutiny today.”

Dendreon reported a third-quarter net loss of $147.1 million, or $1 a share, from $79.3 million, or 56 cents, a year earlier. Net revenue more than tripled to $64.3 million and operating expenses increased 64 percent to $143.7 million, the company said in a statement.

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Biotech/Pharma Stocks to Watch; (BPAX, RXII, DNDN, CPRX)

Northern, WI 9/13/2011 (PennyPayDay) – www.InvestorIdeas.com, a global investor research portal for independent investors issues a report for biotech and pharma stocks to watch based on trading and news for 12th September .

U.S. markets ended higher after falling sharply earlier in the trading session boosted by some reports that China could rescue European debt markets. Bitotechnology stocks were among the top per performers with the NASDAQ Biotechnology Index climbing 6.6 or 0.71% to $982.57, near the day’s high of 982.84.

BioSante Pharmaceuticals, Inc. (NASDAQ:BPAX) shares ended higher by 0.73% to $2.77 after hitting a day’s high of $2.90. On Monday, the company announced successful completion of its principal LibiGel (testosterone gel) pharmacokinetic (PK) study. The top-line results indicate that LibiGel increases levels of free testosterone, bioavailable testosterone and total testosterone in the serum of postmenopausal women to within the normal ranges for younger, premenopausal women.

RXi Pharmaceuticals Corporation (NASDAQ:RXII) was one of the top biggest gainers and moved 14 cents or 14% to $1.14, off day’s high of $1.28. The company announced that the FDA has expanded a partial clinical hold on the company’s NeuVax, which had been earlier delaying a late-stage study.

Dendreon Corporation (NASDAQ:DNDN) shares rose 29 cents or 2.54% to $11.69, recovering from day’s low of $10.89. Analyst at Roth Capital has downgraded the stock to Neutral from Buy. Also, an analyst at ThinkEquity reduced its price target on the stock to $21 with a buy rating.

Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) jumped 17 cents or 13.46% to close at day’s high of $1.45. More than 70.5K shares traded hands, compared to its average volume 31.13K shares. The stock moved following an article from Seekingalpha, which listed the stock as a top ceap biotech stocks that could double or triple by next year.

Research more biotech stocks at the Biotech stocks Directory: http://www.investorideas.com/BIS/Stock_List.asp

Showcase Biotech/Pharma stock at Investorideas.com:
BioSante Pharmaceuticals, Inc.
http://www.biosantepharma.com/

Read the August 2011 Fact Sheet in Full
http://www.biosantepharma.com/downloads/BioSante-Fact-Sheet.pdf

BioSante is a specialty pharmaceutical company focused on developing products for female sexual health and oncology. BioSante’s lead products include LibiGel® (transdermal testosterone gel) for the treatment of female sexual dysfunction (FSD) which is in Phase III clinical development under a U.S. Food and Drug Administration (FDA) Special Protocol Assessment (SPA). BioSante’s first FDA-approved product is Elestrin™ (estradiol gel) indicated for the treatment of hot flashes associated with menopause, marketed in the U.S. by Azur Pharma, BioSante’s licensee. BioSante also is developing a portfolio of cancer vaccines, four of which have been granted Orphan Drug designation, and are currently in several Phase II clinical trials. Other BioSante products are Bio-T-Gel™, a testosterone gel for male hypogonadism, for which an NDA is pending, licensed to Teva Pharmaceuticals, and an oral contraceptive in Phase II clinical development using BioSante patented technology.

Forward-Looking Statements
To the extent any statements made in this news release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about BioSante’s plans, objectives, expectations and intentions with respect to future operations and products, the timing of anticipated regulatory submissions and other statements identified by words such as “will,” “continue,” “could,” “believe,” “intends,” “continue,” “expects,” “anticipates,” “estimates,” “may,” other words of similar meaning, derivations of such words or the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause BioSante’s actual results to be materially different than those expressed in or implied by BioSante’s forward-looking statements. For BioSante, particular uncertainties and risks include, among others, the difficulty of developing pharmaceutical products, obtaining regulatory and other approvals and achieving market acceptance; the marketing success of BioSante’s licensees or sublicensees; the success of clinical testing; and BioSante’s need for and ability to obtain additional financing. More detailed information on these and additional factors that could affect BioSante’s actual results are described in BioSante’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent quarterly report on Form 10-Q. All forward-looking statements in this news release speak only as of the date of this news release. BioSante undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For more information, please contact:
For Investors: For Media:
The Trout Group LLC McKinney/Chicago
Tricia Swanson Alan Zachary
(646) 378-2953; tswanson@troutgroup.com 312-506-5220; azachary@mckinneychicago.com

BioSante Pharmaceuticals, Inc: (NASDAQ: BPAX) is a featured showcase biotech/pharma stock on Investorideas.com
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