What led Dendreon, the company that pioneered a drug many considered the next big thing in cancer research, to file for bankruptcy?» Read More
Stocks closed mixed as the Dow Jones Industrials had their worst quarterly performance in almost two years. "What you've seen this quarter is a lot of negative shocks to the system in the market, yet the markets really don't want to go down," said Erik Ristuben of Russell Investment Group.
Shares of Dendreon shot up after a panel of FDA advisers voted Provenge is both safe and effective in treating advanced prostate cancer.
Shares of Dendreon are up about 250% in pre-market trading after a panel of FDA advisers voted Provenge is both safe and effective in treating advanced prostate cancer.
An FDA Advisory Committee voted 17-0 saying Dendreon's Provenge for prostate cancer is "reasonably safe". And it voted 13-4 saying there's "substantial evidence" that it's efficacious. At first the efficacy question was phrased by the FDA like this: "Does the submitted data establish the efficacy of (Provenge) in the intended population?" Call it semantics, but as they started going around the room it sounded like it might go down with that language.
Only Altria and Dendreon made the cut for today's Sudden Death.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Embargo-gate at the ACC Scientific journals and medical groups employ media embargoes on studies that are to be published or presented. The common practice gives reporters like me a chance to read and digest the information in advance, interview researchers and experts, maybe talk to patients so that when the embargo lifts full and accurate stories will air, run in the papers or cross the wires. It also gives the journals and medical groups a way to manage the news cycle and get more media bang for their publication or conference. Such was supposed to be the case at this week's American College of Cardiology conference in New Orleans.
Shares of pharmaceutical firm Dendreon leaped on Wednesday following a CNBC report about a planned Thursday Food and Drug Administration hearing that could determine the fate of a prostate cancer drug from the company.
A biotech story that I've been following since I started on this beat around four or five years ago is about to go through what's referred to in the biotech world as a major "binary event". In other words, if things go well, the stock could skyrocket. If things go badly, then the stock could tank.
Shares of Telik are plunging today, after its leading cancer drug failed late stage trials. CNBC'S Pharmaceuticals Reporter, Mike Huckman had more on the hazards of investing in biotech on "Power Lunch." Huckman says that in biotech it can be boom or bust if you're going to invest in the volatile sector and that there should be an assumed risk of caveat emptor--buyer beware.