I have stock in Dendron there has been a huge amount of call buying, is it time to sell?
- skwonripkenLv 61 decade agoFavorite Answer
From Jan 17th :Yesterday the Dendron Corp. (DNDN) received a blessing from the FDA - "priority review" status for their prostate cancer drug, Provenge. This means the FDA will make up its mind in 6 months instead of taking a year to determine if Provenge is safe to be sold to the masses. Needham & Co. estimated that if the drug is approved in 2007, it could reach $1B a year in peak sales by 2011. So what's not to like? DNDN is a one-trick pony with everything riding on Provenge and they have a lot of debt. Still, if the FDA gives the green light, shares that currently trade at $4.39 will be seeing a new 52-week high overnight. It's at $7.99 today. Looking at the 5 year chart, I wouldn't sell for a while.
But what the heck do I know ?