Historically, tumultuous times offer some of the best opportunities to buy stocks, and the market's recent mess surely qualifies. And while the price of biotech Dendreon
In our Motley Fool CAPS community, nearly 78% of the 1,415 investors rating the company are bullish, so there's no shortage of reasons why Dendreon will thrive, three of which I've highlighted below.
But here at the Fool, we're all for looking at both the good and the bad sides of an investment. Once you're done with this article, you can read the case against the stock, weigh in with your comments, or rate Dendreon yourself in CAPS.
Many investors are betting that cancer drug Provenge will get approval from the Food and Drug Administration by the expected decision date in May, and expect it to reach blockbuster status once production ramps up. The drug appears to be more effective than sanofi-aventis'
2. Building a cash machine
Dendreon is charging forward with moves to become a pharmaceutical company with a marketable drug -- it's raising cash, building new facilities, and beefing up its marketing. While companies like Onyx Pharmaceuticals
3. More than a one-trick pony
It's also important to point out that Dendreon is not hanging its future on just one treatment. In addition to Provenge, CAPS members like the additional technologies and drugs that Dendreon is developing to fight other types of cancer. It has other active cellular immunotherapies in early stage clinical trials that some see as having the potential to add significant value.