JMP maintains Dendreon at market outperform

Dendreon Corp. was maintained by JMP Securities analyst Charles C. Duncan at a market outperform rating after third-quarter financials matched expectations with revenues of $58,000 and a bottom-line net loss of $19.7 million, or $0.33 a share. The company also showed solid progress in advancing the registration of Provenge with the announcement of a decision, based on a discussion with the FDA, to submit a Biologic License Application as soon as possible given compelling survival data seen in two small phase III trials. Shares of the Seattle biotechnology company were up $0.48, or 8.60%, at $6.06 on volume of 4,288,066 shares versus the three-month running average of 852,974 shares.

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