Dendreon Corp. (Nasdaq: DNDN) just disclosed that sales of its prostate-cancer drug, Provenge, are growing slower than expected.
Wall Street is making the company pay dearly – shares are down an incredible 65% so far in today’s trading.
The once high-flying biotech said it would start slashing payroll, too.
A prudent move, I suppose, considering that management now sees only “modest” sequential quarterly growth above second-quarter revenue of $49.6 million, compared with a prior projection of $350 million to $400 million. Ouch.
MUST-SEE: Trump’s Financial Disclosure Statement
This could be the biggest Obama “scandal” EVER…
It has to do with a secret that he and the Pentagon kept hidden at 9800 Savage Rd., Fort Meade, Maryland, for his ENTIRE presidency.
You won’t want to miss THIS.
The CIA spends billions of dollars to keep scandalous stories under wraps. So we wouldn’t be surprised if they wanted this page taken down immediately.
Click here for the shocking truth.
Also of note here is that, according to FactSet Research, 75% of analysts covering the stock had it listed as a “Buy,” further proving why we never listen to their predictions.
If anyone thinks the stock is being unfairly hammered, please explain why below.
Ahead of the tape,
Publisher, Wall Street Daily