Dendreon was worth the Gamble

Earlier this month we said throwing a few bucks at Dendreon Inc (DNDN) when it was trading at $4.07 was worth the gamble.  Turned out it was in spades as DNDN shares are up 17% at $4.54.  Expectations were so low, that today's so-so news was enough to rally shares. 

Here's the 411 on Dendreon's move today, congrats to all those who listened to us:

The company posted a third-quarter net loss of $154.9 million, or $1.04 per share, compared with a loss of $147.1 million, or $1.00 per share, a year ago.

Excluding certain items, the company lost 59 cents. On that basis, analysts on average had expected an 86-cent loss, according to Thomson Reuters I/B/E/S.

Quarterly revenue rose to $78.0 million from $64.3 million.

Dendreon said its restructuring is on track and that it expects to see benefits associated with the initiative to be fully realized in the third quarter of 2013.

Bottom line:
Dendreon was left for dead as we said.  All it takes is some hope to boost a stock that is trading in the $4 range. 

DNDN Charts