Dendreon Gains on U.S. Panel Backing for Cancer Drug
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Dendreon Corp. shares rose after its Provenge prostate cancer drug won the support of a panel advising the U.S. government on whether to pay for the $93,000 treatment.
Dendreon climbed $2.36, or 6.6 percent, to $38.23 at 4 p.m. New York time in Nasdaq Stock Market trading, the biggest single-day increase in 11 weeks. Outside advisers to the Medicare health plan said yesterday they were confident that Provenge “significantly” improves survival in men with advanced prostate cancer.