SEC investigating Dendreon

Dendreon Corp. (NASDAQ:DNDN) disclosed in a 10Q filing that the SEC is investigating the company. Dendreon said it does not know the specific focus of the investigation, but believes it may be related to statements and predictions the company made about the launch of prostate cancer therapy Provenge sipuleucel-T. Dendreon said it is cooperating with the SEC. Last August, Dendreon pulled its 2011 revenue guidance of $350-$400 million as a result of lower-than-expected uptake of Provenge, which is the company's only drug on the market (see BioCentury, Aug. 8, 2011). ...