Down 35% in the last 12 months, the market has clearly been skeptical of biotech company Dendreon (NASDAQOTH: DNDNQ ) . Concerns over the market opportunity for its prostate cancer drug, Provenge, and question marks over its ability to become profitable have pressured the stock over the last few months. Yesterday, however, the company received approval to market its therapeutic in the EU, and shares were up 5% by the market close. Is this approval the boost that Dendreon needs, or are there other struggles ahead that investors need to consider? What about competition from drugs made by Johnson & Johnson (NYSE: JNJ ) and Medivation (NASDAQ: MDVN ) ? Analysts David Williamson and Max Macaluso discuss these topics in the following video segment.
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The relevant video segment can be found between 0:00 and 4:16.