Dendreon Corp.: The Biggest Loser in Biotech Today
After popping 15% yesterday after the company released earnings, shares of Dendreon Corp. slipped back 7% today, showing that investors may have sobered up after taking time to digest the earnings news. The company did sell more of its drug Provenge than expected, showing a sequential improvement of 10% to $74.8 million in sales, but in this video, Motley Fool health-care analyst David Williamson reminds investors that this is still down from the $85.5 million for the company last year. He also notes that management has said Q1 of 2014 would more closely resemble Q1 of 2013, which posted the disastrous sales figure of $67.6 million. David stresses how vital sales growth is for Dendreon today, and emphasizes how essential it is for the company to avoid these backslides.
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The article Dendreon Corp.: The Biggest Loser in Biotech Today originally appeared on Fool.com.David Williamson and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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