Coverage Initiated: February 2001

Dendreon (DNDN) is a pharmaceutical company engaged in the development of active immunotherapies for the treatment of cancer. Their lead product, Provenge, was appproved May 29, 2010 with first sale targeted for the week of May 3, 2010. Complete 2011 and 2012 sales projections are part of our industry-best coverage on this company.

The company's active immunotherapy platform takes a patient's immune cells, trains them outside the body to recognize a standardized immunological cancer cell target, and then reinfuses these trained cells into the patient. Side effects from the company's treatment platform are minimal, as is the duration of treatment.

Dendreon has been a staple of our coverage universe from the very beginning. We first met with Dendreon management in 2000. No other research team has such an extended history of coverage on this company, and no research team has published more research on Dendreon.

Provenge is an active immunotherapy for the treatment of metastatic prostate cancer that has stopped responding to hormone therapy. The drug should reach blockbuster status (greater than $1B in sales) in the US market. Provenge demonstrated a clear survival benefit in two prior pivotal trials and a survival benefit in a third clinical trial once factors biasing the trial in favor of the control arm are statistically corrected.

Neuvenge is the company's second active immunotherapy, currently at the Phase II stage of clinical development. It targets HER2-neu on cancer cells. This drug can target bladder, ovarian, prostate, and breast cancers expressing the HER2-neu tumor marker.

Our coverage of Dendreon includes Provenge sales projections and analysis of the company's unique manufacturing and distribution process.

A complete listing of our research on Dendreon is available by clicking here.