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Saturday, November 26, 2022

Dendreon Corporation (OTCMKTS:DNDNQ) A Close Look

Dendreon Corporation (OTCMKTS:DNDNQ) is holding its gains well after making a spectacular move up on accelerating volume after the Company announced a strong Commercial Start to 2015. Everyone loves Q stocks for their ability to make spectacular moves and DNDNQ is emerging as the lotto play of the day.

This news is the catalyst that awoke the sleeping giant transforming DNDNQ from illiquid at a nickel to one of the top traded stocks on the entire exchange.

DNDNQ filed for a voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court on November 10 of last year after reaching an agreement on the terms of a financial restructuring with the Senior Noteholders of the Company’s 2.875% Convertible Senior Notes due 2016, representing approximately 84% of the $620 million aggregate principal amount of the 2016 Notes.

A week and a half later the stock was delisted from the NASDAQ stock exchange to the OTCBB and the ticker symbol changed from DNDN to DNDNQ.

Q stocks that used to trade on the big boards and have massive liquidity and investor awareness already built into them have a history of spectacular moves once on the bb’s with FnF being the best recent example of this: FNMA ran from pennies to a high of $6.35 before the bottom dropped out. Up until now DNDNQ had been very quiet trading little volume recently hitting an all-time low of $0.0471.

Dendreon Corporation (OTCMKTS:DNDNQ) is a biotechnology company whose mission is to target cancer and transform lives through the discovery, development, commercialization and manufacturing of novel therapeutics. The Company applies its expertise in antigen identification, engineering and cell processing to produce active cellular immunotherapy (ACI) product candidates designed to stimulate an immune response in a variety of tumor types.

Dendreon’s first product, PROVENGE® (sipuleucel-T), was approved by the U.S. Food and Drug Administration (FDA) in April 2010. Dendreon is exploring the application of additional ACI product candidates and small molecules for the potential treatment of a variety of cancers. The Company is headquartered in Seattle, Washington.

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On January 14 DNDNQ announced the company grew sales in four quarters successively, exceeded its revenue target for the first time ever, and achieved cash-flow break even in the fourth quarter (adjusted for non-recurring items), starting 2015 on a strong footing. In addition, the first commercial European patient initiated treatment with PROVENGE® (sipuleucel-T) in Germany – the first country outside of the U.S. to offer the novel immunotherapy for advanced prostate cancer since receiving marketing authorization in the European Union (EU) in 2013.

Dendreon finished 2014 strong with a net product revenue for the year ended December 31, 2014 of $303.8 million compared to $283.7 million for the year ended December 31, 2013. Net product revenue for the fourth quarter ended December 31, 2014 was $79.8 million compared to $74.8 million for the fourth quarter ended December 31, 2013. As of December 31, 2014, Dendreon had approximately $122 million in cash, cash equivalents, and short-term and long-term investments.

DNDNQ CEO W. Thomas Amick said “Achieving these three major milestones – delivering four consecutive quarters of year over year growth, exceeding our target revenue and commercializing PROVENGE in Europe – starts 2015 on a positive note, Dendreon is moving in the right direction, and we are delivering on our commitment to expand access to PROVENGE for advanced prostate cancer patients worldwide.”

In early January, the first commercial patient in Germany began treatment with PROVENGE for advanced prostate cancer, demonstrating Dendreon’s continued commitment to bring the first personalized immunotherapy to patients in new markets. To help meet the need for innovative therapies for advanced prostate cancer in the EU, PROVENGE, which stimulates a patient’s own immune system to fight cancer, is being made available through a growing network of regional cancer treatment centers where select physicians are being trained in the treatment process. Initially, PROVENGE is available at four centers in Germany. Adding to the product’s broadening access. Dendreon has also registered PROVENGE in Puerto Rico, making it available for distribution.

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Currently trading at a $13.5 million market valuation DNDNQ is finally going parabolic as almost all Q stocks do at some point. The stock has seen a straight line drop from well over $50 a share in 2010 to recent lows of $0.0471. Now that DNDQ is reversing on massive volume and the shorts are covering en mass the stars seem to have aligned perfectly for another parabolic Q explosion. DNDNQ is a stock to watch.

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Disclosure: we hold no position in DNDNQ either long or short and we have not been compensated for this article.

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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