Analyst Sees Dendreon's (DNDN) Efforts to Boost Provenge Demand Bearing Fruit in Q4; Shares Jump

Shares of Dendreon (Nasdaq: DNDN) spiked more than 4 percent higher in morning trade Thursday following some reassuring comments from BofA analyst Rachel McMinn. The stock is now trading around $7.79.

McMinn believes the recent changes implemented by Dendreon's management to boost demand will "bear fruit" sometime during the fourth quarter. The analyst noted the company's warning of some noise over the next two quarters for Provenge amid management changes and new data on J&J's (NYSE: JNJ) Zytiga at the American Society of Clinical Oncology meeting this month. Dendreon will offer an update on new account additions following the meeting, specifically on any negative effects, McMinn said.

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