Shares of drug maker Dendreon are falling as analysts say they doubt the company's prostate-cancer vaccine will be a success.
On Thursday, the Seattle-based company said the Food and Drug Administration is allowing it to speed up a trial of the vaccine called Provenge. Dendreon expects to report initial results later this year, and the FDA said it could approve the drug for sale based on the early data, if it is strong enough.
But analysts still doubted Dendreon Corp.'s chances for success. Jonathan Aschoff of Brean Murray said he thinks the trial will fail, while other analysts suggested the initial results won't be enough for approval or that Provenge will lose out to other vaccines, like Cell Genesys' GVAX.
The stock fell 34 cents, or 6.7 percent, to close at $4.73.
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