Biotech investing can be a cruel mistress, as best-in-class treatment status and momentum behind a stock can suddenly evaporate. As if Dendreon (Nasdaq: DNDN) investors needed anything else to worry about after a botched launch for prostate-cancer treatment Provenge hammered shares, a new and powerful competitor is emerging. Johnson & Johnson's (NYSE: JNJ) Zytiga is already on the market, and a recent trial to make it a first-line treatment and compete head-to-head with Provenge was unblinded -- a good sign that it is working.

Is Dendreon doomed to be crushed under the monolithic weight of J&J or additional competitors lining up on the horizon? Or does the scrappy biotech still have an fighting chance? Watch the video and find out.

David Williamson owns shares of Johnson & Johnson and Dendreon, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio.

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