Dendreon (DNDN) Shares Rise After Approval of Provenge
Dendreon Corp's Provenge Approval Means Share Prices Rise
Provenge is the new prostate cancer treatment that is being called 'one-of-a-kind' that actually uses the body's own immune system to fight the cancer. It is being billed as an alternative to treatments like chemotherapy.
This is Dendreon's first vaccine, however it does not work like a traditional vaccine as it claims to treat the disease and not prevent it.
Provenge is the first to get approval from the Food and Drug Administration according to the Associated Press:
"The big news here is that this is the first immunotherapy to win approval, and I suspect within five to ten years immunotherapies will be a big part of cancer therapy in general," said Dr. Phil Kantoff, an oncologist at the Dana-Farber Cancer Institute who helped run the studies of Provenge.
Provenge was developed to treat cancer that has spread to other parts of the body and will not respond to other kinds of treatment.
"This is just one step in a new pathway for treating patients," said Dr. Simon Hall, chairman of urology at Mt. Sinai Hospital "We have to make them realize this isn't a cure, it's very variable."
In studies of men with advanced prostate cancer, this drug showed to extend lives by an average of about four months.
Dendreon will be estimated to cost from anywhere between $60,000 to $100,000 but the company would not say exactly how much.