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.

The relevant video segment can be found between 0:00 and 4:16.

David Williamson has no position in any stocks mentioned. Max Macaluso, Ph.D. has no position in any stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool owns shares of Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.