Do More With Reuters
Partner Services

UPDATE 1-Dendreon shares tumble ahead of key prostate data

Tue Apr 28, 2009 11:21pm IST
 
Email | Print | | Single Page
[-] Text [+]

* Data on prostate cancer vaccine due on Tuesday

* Shares tank 45 pct after rising as much as 14.4 percent

NEW YORK, April 28 (Reuters) - Trading in shares of biotechnology company Dendreon Corp (DNDN.O: Quote, Profile, Research) were halted on Tuesday after falling 45 percent ahead of major data scheduled to be released later in the day on its experimental prostate cancer vaccine.

Shares fell $9.74 to $11.81 in early afternoon trading on the Nasdaq before the exchange halted trading. Earlier in the day, the shares rose as high as $24.67 in heavy dealings.

The company was not available to comment.

Full results of a late-stage clinical trial involving the company's Provenge vaccine were being released Tuesday at the American Urological Association annual meeting in Chicago.

It has been a volatile few weeks in Dendreon shares, to say the least. The stock, which traded at a low of $2.55 in March, soared earlier this month when the company said the trial, known as IMPACT, had reached the main study goal. The data bolstered chances that Provenge would become the first approved therapeutic vaccine for any type of cancer.

Unlike traditional vaccines that prevent disease, Provenge treats it by stimulating the body's own immune system. (Reporting by Lewis Krauskopf; Editing by Derek Caney and Gerald E. McCormick)

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

GLOBAL RECOVERY

A labourer works on a flyover bridge at a construction site in New Delhi October 14, 2009. REUTERS/Parth Sanyal/Files
Global economy in holding pattern - IMF

The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months.  Full Article 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

showcase

U.S. Recession
U.S. Recession

A trip through the epicenters of the American recession.  Full Coverage 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
T P Raman
Column - RBI leads the world

Reserve Bank of India's approach ring-fenced the banking system.   Full Article 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Not Enough Jobs
Not Enough Jobs

Venture capital creates jobs, but not enough.  Full Article 

 
Column - A Sweet Dream
Column - A Sweet Dream

There are good reasons for Ferrero to consider a combination with Cadbury.  Full Article