Dendreon Corp fka DNDNQ

[MLD38]

More on the Skeptic, Jonathan Aschoff of BMC&Co analyst

Out of the Gate: Dendreon Peaks Again
Monday April 9, 10:05 am ET
http://biz.yahoo.com/ap/070409/dendreon_out_of_the_gate.html?.v=1

Dendreon Shares Gain Despite Analyst Warning About FDA Approval of Provenge

..."NEW YORK (AP) -- An analyst sounded a warning note on shares of biotechnology company Dendreon Corp. on Monday, which have more than tripled in value since March 30, but the stock continued to rise."....

..."Brean Murray Carret & Co. analyst Jonathan Aschoff said the FDA would set a "dangerous double standard" by approving Provenge, which did not meet its primary goal in two phase III trials. He said the FDA rejected Pharmacyclics Inc.'s new drug application for Xcytrin for not reaching its goals, but agreed to review the Provenge application.

Aschoff has "Sell" rating and a price target of $1.50 for shares of Seattle-based Dendreon, implying the stock will lose 91.7 percent of its value in the next year."...

..."Five of the nine analysts reporting to Thomson Financial rate Dendreon stock at "Buy" or the equivalent. Two analysts rate it at "Neutral"-equivalent and two at "Sell"-equivalent."...


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Jonathan Aschoff skeptical : news items
http://news.google.com/news?sourceid=navclient&ie=UTF-8&rls=GGLD,GGLD:2004-10,GGLD:en&q=...

Jonathan Aschoff : BioTech reports
http://screen.yahoo.com/d?src=mtx_165&aut=%22Jonathan+M.+Aschoff+PhD%22&tk=&b=21&z=d...

March 27, 2007: Nuvelo (NASDAQ: NUVO) ---- Jonathan Aschoff of Brean Murray Carret & Co., remains skeptical
http://sanjose.bizjournals.com/sanjose/stories/2007/03/26/daily37.html?surround=lfn
Nuvelo (NASDAQ: NUVO) is based in San Carlos.
...Shares of Nuvelo Inc. rose 25 percent Tuesday after it said that regulators gave fast-track status to one of its drugs for two uses against colorectal cancer. The stock rose 77 cents to close at $3.86. The Food and Drug Administration gave the status -- which is designed to speed a drug through the approval process if it addresses a significant unmet medical need -- for use of Nuvelo's drug known as rNAPc2 as both a first-line treatment and second-line treatment, both in combination with chemotherapy, against metastatic colorectal cancer. The drug is in a Phase II trial testing its safety and efficacy....
....At least one analyst, Jonathan Aschoff of Brean Murray Carret & Co., remains skeptical about the company, however. He maintained a sell rating and target price of $2 and called the fast-track status meaningless. "In our view, rNAPc2 is a high-risk product now in an oncology indication that earlier testing had determined was less promising for the drug than the cardiovascular indication in which it has underperformed," he wrote in an afternoon note.....

March 27, 2007 was $3.86, not trading in low $5.00 range
http://finance.yahoo.com/q?s=NUVO


Brean Murray Carret & Co. : mkt maker includes DNDN
Brean Murray, Carret & Co. (BMUR) makes a market in each of the following securities:
http://breanmurraycarret.com/marketmaker.pdf

Jonathan Aschoff, Ph.D (see sell re DNDN in the Healthcare & BioTech list)
http://breanmurraycarret.com/ResearchUniverse.pdf
Jonathan Aschoff, Ph.D. Covers:
http://breanmurraycarret.com/analysts.html#aschoff

ACADIA Pharmaceuticals, Inc. (ACAD)
Adolor Corp. (ADLR)
AtheroGenics, Inc. (AGIX)
Dendreon Corp. (DNDN)
Discovery Laboratories, Inc. (DSCO)
Favrille, Inc. (FVRL)
Flamel Technologies S.A. (FLML)
Genitope Corp. (GTOP)
Halozyme Therapeutics, Inc. (HTI)
Keryx Biopharmaceuticals, Inc. (KERX)
NeoPharm, Inc. (NEOL)
NexMed, Inc. (NEXM)
Nuvelo, Inc. (NUVO)
Progenics, Inc. (PGNX)
Renovis, Inc. (RNVS)
Sirna Therapeutics, Inc. (RNAI)
XTL Biopharmaceuticals, Ltd. (XTLB)