A closer look at Dendreon's new prostate cancer treatment

Two weeks ago, Dendreon Corp. (DNDN) reported that its experimental prostate cancer treatment, the therapeutic vaccine Provenge, was significantly successful in prolonging patient survival, but said it would give more details at a later date at the American Urological Association (AUA) Annual Meeting. It didn't matter, shares of the biotech consequently soared some 130 percent as investors and patients alike hoped the results may clear the way for the long-awaited regulatory approval for the drug.

Today, Dendreon finally released the promised details, claiming they prove its unique prostate cancer treatment, Provenge, extended median survival in a large clinical trial by 4.1 months and increased three-year survival by 38 percent compared to a placebo (31.7 percent versus 23.0 percent).