Dendreon Rebounds In Q4 2011, But Can It Keep It Up In 2012?
This article was originally published in The Pink Sheet Daily
The biotech reported gross product revenue for Provenge of approximately $82 million in Q4 2011, better than doubling Q4 2010 sales. Management credits improved reimbursement dynamics and sales execution.
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Bayer/Algeta’s Xofigo was cleared for castration-resistant prostate cancer patients with symptomatic bone metastases, but uptake of the radiotherapeutic will require referrals from most providers to a licensed radiation site and the company must find a way for the drug to be used instead of or in sequence with chemo and other prostate cancer therapies.
Dendreon’s new CEO has yet to articulate whether he plans large-scale strategic changes to how the company markets Provenge, instead focusing his early comments to investors on deeper penetration of existing accounts and guiding to low-single-digit quarterly sales growth.
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