Dendreon Corp fka DNDNQ

[DewDiligence]

Your post is non-responsive insofar as I was talking about management's spin on the 9902b trial design, not the valuation of the company.

If you want to do a valuation analysis on DNDN, be my guest. If you believe, as many do, that DNDN is a “platform” company, then your analysis in #msg-27620718 is somewhat off base, IMO, because the NPV of the business should not be “something close to zero” if 9902b fails:

>>
The expected value of the investment post trial is a function which is proportional to 0.90*NPV-Earnings-if-trial-is-successful + 0.10*something-close-to-zero (the NPV of the company earning if not successful).
<<

p.s. Valuing DNDN is not my problem inasmuch as I don’t own it and don’t intend to. I suspect you don’t—and won’t—own it either given your stated intention to own only stocks with trustworthy management.