Dendreon (NASDAQ: DNDN ) appears to be pulling out all the stops in an effort
to restore at least some of the luster to its prostate cancer treatment
Provenge. Once viewed as a potential blockbuster, Provenge sales may now top out
at $500 million, Collins Stewart analyst Salveen Richter wrote to investors
after meeting with management, according to an article in Medical Marketing &
Media. And even that figure might be out of reach if Dendreon's aggressive
direct-to-consumer advertising campaign falls short. The Seattle-based
company's need for something to ignite sales of Provenge became even clearer
when Dendreon reported third-quarter results Tuesday. Sales were up 5.6% in
October to $26.4 million from $25 million in September, but the company added
that November sales will fall short of October's. Even though Dendreon's
revenue tripled from the same period a year earlier, it lost $147.1 million, or
$1 per share, in the third quarter almost twice the decline for the same period
in 2010. By midday Thursday, investors had taken Dendreon to the whipping post,
driving its shares down about 36%. For Dendreon, it was a case of déj
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