Dendreon (NDAQ:DNDN) shares rocketed $2.72, or 40.36%, to $9.46 in early trading today after the company received confirmation that the FDA will accept either a positive interim or final analysis of survival from its ongoing IMPACT study to supplement the Biologics License Application for Provenge. We began covering this story on May 21st when we noted the widespread support for the drug from doctors and patients alike. The problem was that the FDA said it would delay the approval of the drug for some time - which could signal trouble for investors. Perhaps the FDA felt the heat from supporters or simply changed its mind, but regardless this latest press release is very bullish for the company.

Today's news that the FDA will accept a final analyiss of survival to supplement the BLA for Provenge indicates that they may significantly reduce this delay. Obviously, if the delay is reduced or eliminated and Provenge is approved for use, it would mean significant share appreciation for investors in DNDN. The drug targets a large underserved market that could generate substantial revenues over the long-term and perhaps even make the company a takeover target for a larger pharma player. Combined, these factors make DNDN a stock that is certainly worth watching!

Related Companies
Cell Genesys, Inc. (CEGE)
AVI BioPharma, Inc. (AVII)
MannKind Corporation (MNKD)