NEW YORK, April 28 (Reuters) - Shares of biotechnology company Dendreon Corp jumped as much as 14.4 percent to a two-year high on Tuesday, ahead of major data scheduled to be released later in the day on its experimental prostate cancer vaccine.
Shares rose $2.62, or 12.2 percent, to $24.17 in heavy late-morning Nasdaq trading, after rising as high as $24.67 earlier in the session.
Full results of a late-stage clinical trial involving the company's Provenge vaccine was scheduled to be released later on Tuesday at the American Urological Association annual meeting in Chicago.
Dendreon shares soared earlier this month when the company said the trial, known as IMPACT, reached the main study goal, bolstering chances that Provenge would become the first approved therapeutic vaccine for any type of cancer.
Unlike traditional vaccines that prevent disease, Provenge treats it by stimulating the body's own immune system.
(Reporting by Lewis Krauskopf; Editing by Derek Caney) Keywords: DENDREON/SHARES (lewis.krauskopf@thomsonreuters.com; 646-223-6082;Reuters Messaging:Lewis.Krauskopf.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Shares rose $2.62, or 12.2 percent, to $24.17 in heavy late-morning Nasdaq trading, after rising as high as $24.67 earlier in the session.
Full results of a late-stage clinical trial involving the company's Provenge vaccine was scheduled to be released later on Tuesday at the American Urological Association annual meeting in Chicago.
Dendreon shares soared earlier this month when the company said the trial, known as IMPACT, reached the main study goal, bolstering chances that Provenge would become the first approved therapeutic vaccine for any type of cancer.
Unlike traditional vaccines that prevent disease, Provenge treats it by stimulating the body's own immune system.
(Reporting by Lewis Krauskopf; Editing by Derek Caney) Keywords: DENDREON/SHARES (lewis.krauskopf@thomsonreuters.com; 646-223-6082;Reuters Messaging:Lewis.Krauskopf.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.