Enter multiple symbols separated by commas

Dendreon Shares Take Off Ahead of FDA Panel Meeting

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.

Dendreon seeks a positive recommendation for FDA approval of what would be the first-ever therapeutic cancer vaccine, reported CNBC pharmaceuticals reporter Mike Huckman. The drug, Provenge, has failed to meet some testing endpoints but also shows signs of conferring survival benefits.

The FDA usually follows the recommendations of panels such as the one meeting tomorrow -- but not all the time, Huckman said.

Dendreon shares , which are heavily shorted and have traded in a narrow range for the last 52 weeks, leaped after the CNBC report.

Prostate cancer is the second-most common cancer among U.S. men, killing about 30,000 annually.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.