Expert Financial Analysis and Reporting

Northwest Biotherapeutics’ (NWBO) DCVax-L and ImmunoCellular Therapeutics’ ICT-107 are dendritic cell cancer vaccines that are in phase II trials for the treatment of glioblastoma multiforme, the most malignant form of brain cancer. Their dendritic cell technology is the same as that used by Dendreon’s Provenge. Importantly, NWBO and IMUC both have much more efficient manufacturing […]

When I was in high school I played the trombone in the marching band. I could never stay in step, but my mother always encouraged me when she said that everyone was out of step except me. I feel the same way now as I am positive on the outlook for Dendreon (DNDN) at a […]

Key Points Dendreon has made a sweeping change in management by bringing in John Johnson, who was serving as a board member, to be the new President, CEO and Chairman-elect of the Board of Directors. He immediately replaces Mitchell Gold as CEO and Richard Brewer has stepped down as Chairman of the Board. Mr. Gold […]

Key Points Dendreon has made a sweeping change in management by bringing in John Johnson, who was serving as a board member, to be the new President, CEO and Chairman-elect of the Board of Directors. He immediately replaces Mitchell Gold as CEO and Richard Brewer has stepped down as Chairman of the Board. Mr. Gold […]

Conclusions I think that most physicians and investors were aware that the analysis of Dendreon’s (DNDN) Provenge in the Phase III IMPACT Trials understated its effect on survival because of the use of frozen Provenge (Frovenge) in the control group. In a new scientific paper, the authors concluded that after adjusting for this factor, the median […]

Investment Conclusion Both Zytiga and Provenge have had very successful launches in the US. Fears that Zytiga would negatively impact sales of Provenge are not borne out by the quarterly sales trends reported so far for the products. Provenge in 4Q, 2011 reported an upside sales surprise at the same time that Zytiga reported very […]

Introduction Over the last few months, I have been speaking to physicians and researchers who are using and studying Provenge. Based on my research, I am recommending purchase of Dendreon. This note summarizes the opinions of the diverse group of people that I listened to and interviewed. I have grouped their comments into four categories: […]

Key Investment Issues Investment sentiment on Dendreon has deteriorated so much that investors seem to be only focusing on what has gone wrong and what can go wrong. I think that this pervasive state of gloominess is causing people to ignore some encouraging signs. Reimbursement has become predictable for physicians and most are receiving payment […]

Introduction Over the last few months, I have been speaking to physicians and researchers who are using and studying Provenge. Based on my research, I am recommending purchase of Dendreon. This note summarizes the opinions of the diverse group of people that I listened to and interviewed. I have grouped their comments into four categories: […]

Investment Opinion In the aftermath of the 70% meltdown in the price of Dendreon stock caused by sharp lowering in expected sales of Provenge in 2011, investors are struggling to balance the positives and negatives of the investment case. I believe that the essential starting point for arriving at a new investment thesis is to […]