Thursday, March 13, 2008

Dendreon Loss Greater and they Amended Provenge SPA

It seems they lost a little more then Wall Street Expected but beat on the revenue line.
The company reported a fourth-quarter loss of $27 million, or 32 cents a
share, swelled from $21.5 million, or 28 cents a share, in the comparable 2006
period. Quarterly revenue fell to $28,000 from $86,000 a year earlier.
Analysts surveyed by Thomson Financial had predicted a narrower loss of 25
cents a share, with revenue of $12,000.

They also made some changes to the IMPACT study:
Under the new conditions, the interim analysis is still scheduled for
the second half of 2008 but it will require a greater number of events (deaths)
and will have higher statistical powering.

I hate how the FDA terms deaths as "events." Just call them deaths and don't invent a neutral term for them like this. If the FDA appoved Provenge like their advisory committee recommended in March then more people will have had their "events" pushed back for a few months or even years.

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