Yesterday was kind of fun.
Dendreon was plodding along in the morning... somewhere around $4.30 or so. I was wondering if THIS would be the day that it might move another 20 or 30 cents upwards. We're IN April, and we are expected to get the final results of the IMPACT trial for Provenge sometime in April...
A little blurb appears, saying that Dendreon has a slot at the American Urological Association annual seminar on April 28, under a late-breaking news application. No big deal, right? That's by the end of April... no biggie, they'd announce a PR about results and then present at a major conference.
Half an hour later WHAM. The stock jumps to $5.20 and starts climbing -- about another dollar in 2 minutes. Kind of fun to refresh the screen and see the stock going up a dime every time you refresh. It was like in 2007, the day after the FDA's Advisory Committee met and voted that Provenge was safe by a 17-0 and substantially effective by a 13-4 margin. I'd refresh the screen then, and we were up a dollar!
We closed at 5.99. Again ... will we keep the gains? Keep going? Drop back? I have no clue. But as we get closer to the end of the month, expect more volatility! Me? I'm keeping most of my shares.
Regards,
Trond
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1 comment:
Ha! Well lets hope you get to grin many times more after pounding that refresh button.
Even if results are not perfect it seems from Dendreon's recent interim results on Provenge that they have something worth selling to a large buyer. The stock should hold $1-$2 on less than good news. Good news and you may need a new keyboard.
Good luck!
- Tink
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