Wednesday afternoon, Dendreon Corporation (DNDN) got the "all clear" from Medicare for coverage of its breakthrough cancer treatment, Provenge. The agency's decision memo is technically a "proposed draft", subject to a 30 day comment period and possible revision before a "final determination" on or before June 30, 2011. But for all intents and purposes, the language and supporting reasoning of the memo make clear that coverage by Medicare for Provenge is going to happen.
Coverage breakthrough
For Dendreon this is huge. Shares traded into the 50's immediately after FDA approval of Provenge in April 2010. They then drifted into the 40's after the initial spike, and were knocked as low as the 24's after-hours on June 30, 2010 when Medicare announced that it was going to conduct a review of coverage. This price action was certainly understandable, since most men who suffer from the labeled indication for Provenge--late stage metastatic
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Christina DaRe Malin Akerman Melissa Joan Hart Bianca Kajlich Giulianna Ramirez
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