Favorable results from a study of the Provenge drug for prostate cancer boosted shares in Dendreon Corp. in Monday trading.
Shares in the Seattle biotech (NASDAQ: DNDN) rose more than 8 percent, climbing $1.53 to close at $19.52 in a brutal day of trading that saw shares in nearly every Washington state publicly traded company fall.
Last week, Dendreon announced preliminary results of a study of its Provenge cancer drug that indicated it “significantly prolongs survival in men with advanced prostate cancer.”
On Sunday in Denver at the 100th annual meeting of the American Association for Cancer Research, Dendreon presented additional results of another Provenge study that said the drug “induces long-term memory immune responses that are durable and can be maintained following boosting.”
The latest study tested 176 patients at 19 U.S. sites.
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