I did not receive proxy materials this year, that was kind of strange. Did anyone else have this issue? I was speaking to a CFO of a big company and he said he thinks the folks whose stock is loaned out don't get to vote, because he never receives more votes than there are the number of shares in any proxy vote and his company has a big short position.
The travesty in all of this is, there is a drug on the market that cures the disease and it is not being prescribed.
If Linda powers had these results she would have had a conf call on it already.
JJ has a plan and he is sticking to it. Nothing is distracting him. We are approaching break even.
ASCO paper states both Xtandi and Zytiga have no effect on patients with this biomarker. Amazingly none of the patients with this biomarker responded to those drugs. That is a large patient population with no treatment option except for Provenge.
The growth provenge use is happening in front of eyes, but not in terms of revenue. They were urgently recruiting to finish xtandi, zytiga and DN 24 trials at the expense of top and bottom lines. These are all behind us now. Realistically, this the only drug that addresses the underlying disease, why would a well informed dr ignore it?
The trial started in oct 29 2013. Looks like all of the patient recruiting sites are done except for USC. This means they diverted potentially 100 paying customers this quarter and the last to this study, They also finished the recruiting of zytiga trial for 60 patients over two years. The difference between beating the number and not can easily be explained. Mind you last winter was the coldest and snowiest on record. They may have left $5m on the table last quarter and this quarter which would have easily beat their estimates last quarter significantly.
Year over year rev growth
Price increase of 9%--apparently contributed 1M to last Q YoY results.
QoQ increase rev expected, with the price increase they should be able to show another YoY rev growth.
$30M coming in 2 installments from insurance
Xtandi trial near completion of enrollment--this should be the last trial that diverted potentially revenue patients to trials.
DN24 trial enrollment complete
From 10Q the selling and administrative should continue to decline through this year.
Can it be that they are actively blocking a sale at these prices? Provenge efficacy is winning hearts and minds and with EU at hand the long awaited revenue growth is finally here. Also the Neuvenge trials accelerated in the past 6 months to a point that the went from being half enrolled to full enrollment in span of four month. Something happened to boost the enthusiasm around the enrollment.
Havenger I know you literally bet the farm on this, but your stake is no where near the big players, Blackrock has 13 million shares, Vanguard has 9 million shares and deerfield that only invests in biotech has 7 million shares and they know what they are doing and they are not advising a sale at these prices. In the next earning report you will likely see that they have reduced cost by roughly 25 million year over year, we had a horrible winter it is not a surprise that the revenue for this quarter is down from the fall quarter. The expensive part of the bladder trial is also behind us so that is also going to save about 3 million quarter if not more. The EU is also coming and automation is coming. Competition is also getting weeded out by cross resistance data and the AR-V7 study. Provenge is the best drug to treat mCRPC and the word is getting around.
Havenger , blackrock is the biggest shareholder of DNDN, do you see that as a positive or a negative?