Here is a summary of the hard data on Provenge Phase 3 trial.
At the week zero dose of PROVENGE, the expression of CD54 on APCs was upregulated 5.8 fold. At the week two dose, it was 10.1 fold, significantly increased from week 0 (p <>
It seems to have convinced Joel Sendek at Lazard who is now upping Dendreon to Buy from a Hold. He thinks that the company could log $2 billion in sales of PROVENGE. Not bad considering that they booked only $111K in sales in 2008.
Lazard Capital Markets analyst Joel Sendek upgraded shares to "Buy" from "Hold" and boosted earnings estimates for the company because of Provenge, its lead candidate. He also set a $25 price target on the stock, which implies upside of 39 percent over its closing price Friday of $17.99.
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