New 52-Week High for Dendreon Shares, FDA Approves Provenge

Dendreon Corporation's (NASDAQ:DNDN) Provenge has been approved by the FDA, it costs $50,000 to $100,000 for treatment, hello $57 a share.

On Friday Dendreon shares hit $57.67 a share (new 52-week high) and settled down to $54.55 after-hours, that works out to a one year 145% gain for shareholders. Shares of Dendreon (DNDN) ran up Friday as the company received U.S. FDA approval for their Provenge prostate cancer treatment

But how much room is left to run in the stock? Is the earnings power from the drug sales already priced in? In 2009, shares saw an increase of 473.8%, and 906.9% from lows of $2.61 seen on March 6, 2009. However, the company notes that in the near-term they will only be able to supply 2,000 treatments to patients. At a cost of $93,000 per treatment, this could add up to $186 million to their top line.  Visit StreetInsider.com for more details on where DNDN shares are headed>>.

Back to the exciting FDA approval of Provenge, congrats to Dendreon and its shareholders: