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Oct.27

1:37 PM ET

Monday, 27 Oct 2008

Dendreon's "Short" Shrift

Posted By:Mike Huckman

Topics:Stock Market | Medicine | Pharmaceuticals

Sectors:Health Care Equipment and Services | Health Care | Pharmaceuticals

Companies:Dendreon Corp | Amgen Inc

The recent announcement by Dendreon [DNDN Loading... () ]that its clinical trial for the prostate cancer Provenge will continue to the end, but that it shows what some see as a promising trend, may have scared a few folks.

According to the latest short interest table in this week's "Barron's", there's been a rather significant drop in the investors who think the shares will fall.

Before the latest study data came out there were nearly 32,000,000 DNDN shares held short. As of October 15th, there were just over 25,000,000 being shorted.

Nonetheless, DNDN still ranks 33rd among Nasdaq-listed companies with the largest short interest. Amgen[DNDN Loading... () ] is one just one spot ahead. With the roughly six-and-a-half million share difference Dendreon also had one of the biggest changes to its short positions during that same time period. And it has now fallen off the list of top-50 Nasdaq companies with the largest short interest ratios.