Not long after I submitted my last post I got word that the House Energy and Commerce Committee sent a letter today to the four Congressmen who had requested a hearing into the Dendreon/Provenge saga. And the answer is "no." The stock, which had been rallying on heavy volume today, sank when we broke the news on "Closing Bell."
The Committee says it won't make a move until the Food and Drug Administration makes a final decision on Provenge. And that could be awhile. Chairman John Dingell (D-MI) writes, "An investigative hearing prior to an agency's final decision runs the risk of interfering with the normal regulatory process."