SOURCE: The Bedford Report

The Bedford Report

September 13, 2011 08:16 ET

Dendreon and ADVENTRX Spread Awareness in Hopes of Boosting Revenues

The Bedford Report Provides Equity Research on Dendreon & ADVENTRX

NEW YORK, NY--(Marketwire - Sep 13, 2011) - Cancer has emerged as the world's most expensive disease -- costing the global economy more than a trillion dollars a year. While the developers of cancer treatment could strike it rich with a blockbuster product, there are significant risks for these biotech companies. The Bedford Report examines the outlook for companies in the biotechnology industry and provides investment research on Dendreon Corporation (NASDAQ: DNDN) and ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX). Access to the full company reports can be found at:

Earlier this year Reuters published research from BioMed Tracker and BIO, claiming that the cancer drug success rate is a mere 4.7 percent. Recently the agency's Oncologic Drugs Advisory Committee endorsed several FDA proposals for tightening the accelerated approval standards, recommending that sponsors generally be required to conduct randomized trials rather than single-arm studies, and that there be more extensive postmarketing studies to confirm clinical benefit.

Even if cancer medication receives approval, that does not necessarily mean revenues for the biotech firm will skyrocket. Last month shares of Dendreon were crushed after the company announced that sales of Provenge, its $93,000 prostate cancer treatment, would not meet its previous forecasts.

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Part of Dendreon's struggles could be attributed to the lack of awareness. Dendreon said only about 25 percent of potential Provenge prescribers were aware of a June 30 decision by Medicare to cover the drug's cost of $93,000 for a course of three infusions.

ADVENTRX Pharmaceuticals is a development-stage specialty pharmaceutical company focused on in-licensing, developing and commercializing product candidates for the treatment of cancer. Its lead products include Exelbine or ANX-530, an emulsion formulation of the chemotherapy drug vinorelbine.

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