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Dendreon Rebounds In Q4 2011, But Can It Keep It Up In 2012?

 
• By Michael Goodman

The biotech reported gross product revenue for Provenge of approximately $82 million in Q4 2011, better than doubling Q4 2010 sales. Management credits improved reimbursement dynamics and sales execution.

Dendreon Corp. surprised analysts Jan. 5 with an announcement of its fourth quarter performance, and a preview of what’s in store in 2012. The company reported gross revenue of $82 million for Provenge (sipuleucel-T), a 25% improvement over Q3 2011, and beating year-over-year Q4 sales by 230%. Full-year gross revenue for Provenge was approximately $228 million, exceeding both its own projections back in August when it pulled back on its Provenge revenue forecast, and also consensus.

Management said that it went from 425 infusing sites at the end of Q3 to 590 sites in Q4. In...

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