Tuesday, April 24, 2007

Bank of America on Dendreon (DNDN)

Bank of America this morning maintains a Neutral rating on Dendreon (DNDN).

BofA says it is expecting approval of Provenge by May 15th after chats with folks like a former FDA general counsel and CBER panel members. BofA sees upside potential to their target of $29 on approval. Downside is to $6 if an 'approvable letter' is issued. It maintained a Neutral as it awaits the longer term IMPAC trial.

disclaimer: long Dendreon calls.

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