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With continuing good news about its 'Provenge' cancer drug, Dendreon Corp., (DNDN) http://www.dendreon.com/ trading on the Nasdaq in $24 range, is holding onto its near all time highs set this month even though traders are taking some profits today during a lackluster session.
A 3-MONTH CHART ON DNDN
DNDN has a 3-Month average daily trading volume of 8,866,360 shares and a market cap of $2.4 billion. The Company's July 2, 2009 announcement that Provenge is nearing regulatory approval has firmed up investors buying on both the ups and downs of any given day. DNDN is looking at a 2010 launch for its primary product.
Provenge will be used to treat advanced, hormone-resistant prostate cancers. Provenge works by stimulating the body's own immune system. "What's special is that it teaches the body to do what it's meant to do: reject foreign cells," said a medical doctor and analyst with Needham & Co.
... a bit of history...
DNDN was at one time refused approval of Provenge by the FDA and subsequently in 2008; the Company laid of 40 salespeople. DNDN fell a 2007 high of $20 in April to a low of $4.56 in December. DNDN kept at it and as its trials kept providing promising signs, the stock stabilized around $9 this spring; and then took off.
DNDN's product portfolio includes active cellular immunotherapy, monoclonal antibody, and small molecule product candidates to treat various cancers. Provenge has completed two Phase III trials for the treatment of asymptomatic, metastatic, and androgen-independent prostate cancer.
As with all Bio-Pharma companies; DNDN has little in the way of revenues (Now). At $24, DNDN is below its 52-week high of $27.40 set on 04-29-09 and is far above its 52-week low of $2.55 set on 03-09-09. It is at its 50-day moving average and naturally well above its 200-day moving average. Its shares out versus float ratio is near-parity.
A ONE YEAR CHART ON DNDN
With the exceptions of its ETF's, the solar sector has suffered a great deal, waiting on the stimulus dollars to actually filter into businesses. You can see by the chart below that Energy Conversion Devices, Inc., (ENER) http://www.ovonic.com/ trading on the Nasdaq in the $13 range, has felt the effects of delay.
THE DJ RENEWABLE ENERGY EQUIPMENT INDEX
But the money is getting out there now, little by little, and investors know it, are hanging on, and buying in aggregate. ENER manufactures a proprietary, thin film laminate and in June, announced the extension of a supply agreement with EnergyPeak (private). Despite the sectors downturn, ENER has 'stayed the course' and its integrated and commercial rooftop photovoltaics, one of the fastest growing segments of the solar power industry, will soon get their time in the sun.
At $13, ENER has a current market cap of $618 million on 45,743,000 shares outstanding. At $13, ENER is well below its 52-week high of $83.20 and just pennies ahead of its 52-week low of $12.85 (a good buy signal).
A ONE YEAR CHART ON ENER
How about some good news from China...
AgFeed Industries Inc. (FEED) http://www.agfeedinc.com/ trading on the Nasdaq in the $5 range has been up and down over the last calendar year (see the chart below), but its last three months has brought buyers into the stock (mainly, I think, on the rather quick dispersal of the Chinese stimulus package). FEED has a market cap of $201 million on 38 million shares outstanding and in the $5 range, is off its 52-week high of $15, but well ahead of its 52-week low of $0.90.
A 3-MONTH CHART ON FEED
FEED is China's largest commercial hog producer in terms of total annual hog production as well as the largest premix feed company in terms of revenues. China is the world's largest hog producing country that produces over 600 million hogs per year, compared to approximately 100 million hogs in the U.S. China also has the world's largest consumer base for pork consumption. Over 65% of total meat consumed in China is pork. Hog production in China enjoys income tax free status. The pre-mix feed market in which AgFeed operates is an approximately $1.6 billion segment of China's $40 billion per year animal feed market, according to the China Feed Industry Association. FEED is based in the U.S.
A ONE YEAR CHART ON FEED
