Dendreon (DNDN) saw its stock soar following the company’s announcement that it will start selling its prostate cancer vaccine in Europe.
The drug Provenge received European marketing approval in September for use in advanced prostate cancer patients. The drug’s launch — along with the company’s impressive fourth-quarter results — saw DNDN stock rise over 15% Monday.
Provenge reprograms the body’s immune cells in order to attack advanced prostate cancer cells. The drug has not been as successful as many thought it might be, but it’s still proven effective enough to hit the European markets.
Dendreon’s reported fourth-quarter revenue of $74.8 million, exceeding analysts’ expectations of $73 million.