Medivation Inc. (MDVN) has reported a net loss of 42 cents per share in the third quarter of 2009, exceeding the Zacks Consensus Estimate of a net loss of 39 cents. However, net loss declined from the year-ago loss of 68 cents.  Revenue for the quarter was $16.3 million, consisting of partial recognition of the non-refundable upfront payment of $225 million received from Pfizer (PFE) in October 2008. The upfront payment is being recognized on a straight-line basis through the first quarter of 2012. Revenues were nil in the year-ago period.  Operating expenses grew from $20.6 million in the year-ago period to $27.6 million in the quarter. Research and development expenses increased to $21.5 million as a result of greater clinical trials expenses which were partially offset by a cost share reimbursement under the company’s agreement with Pfizer. With Dimebon and MDV3100 moving into advanced ...

Seattle-based biotechnology company Dendreon (DNDN) recently raised more than $200 million through the issuance of 10.7 million shares of its common stock in a public offering. In addition, it granted offering manager Deutsche Bank Securities an over-allotment of 1.3 million shares to support the manufacture and marketing of Provenge.

Provenge, a therapeutic vaccine candidate being developed by Dendreon for the treatment of prostate cancer is likely to receive FDA approval in the first half of 2010. Unlike traditional vaccines that prevent diseases, Provenge treats it by stimulating the body's own immune system to attack cancer cells.

We remind investors that the company met with disappointment in 2007 when the FDA asked for further data before approving it. The disappointing news had caused the company to retrench 15% of its workforce and sent its shares on a downward journey.

However, in April 2009, Dendreon reported positive results from its IMPACT (IMmunotherapy for Prostrate

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For Immediate Release

Chicago, IL - June 1, 2009 - Zacks.com releases the latest Industry Outlook. Today's interview is with senior analyst Grant Zeng, who talks about the Biotech Industry, including Myriad Genetics (MYGN), Onyx Pharmaceuticals Inc. (ONXX), AMAG Pharmaceuticals Inc. (AMAG), Dendreon (DNDN) and 3SBio Inc. (SSRX).

A synopsis of today's Industry Outlook is presented below. The full article can be read at http://at.zacks.com/?id=2678.

Our best picks at this point include Myriad Genetics (MYGN), Onyx Pharmaceuticals Inc. (ONXX) and AMAG Pharmaceuticals Inc. (AMAG), Dendreon (DNDN) and 3SBio Inc. (SSRX). We have different reasons for a BUY rating for each of the four companies, but all of these companies have one thing in common -- strong balance sheets, which eliminates immediate financing needs.

Both MYGN

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OVERVIEW

The Biotech industry as a whole continues to underperform the market so far this year. As of May 26, 2009, Both the AMEX Biotech Index and the broader NASDAQ Biotech Index declined 6.8% (AMEX Biotech has 20 biotech companies while NASDAQ Biotech Index includes over 130 component companies), while the Dow Jones Biotech Index declined 3% (which includes 33 companies).

At the same time, both the NASDAQ Composite and S&P 500 have achieved positive returns. NASDAQ has made a gain of 11% as of 5/26/09 and the S&P 500 has gained 0.8%, while the Dow Jones Industrials reached a negative 3.5% return.

This constitutes a sharp contrast with last year when the Biotech industry as a whole achieved much better performance than the market. In 2008, all three biotech indices outperformed all three major market indices by a large margin. The three major indices declined as much as over 40% (34%, 41%

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OVERVIEWThe Biotech industry as a whole continues to underperform the market so far this year. As of May 26, 2009, Both the AMEX Biotech Index and the broader NASDAQ Biotech Index declined 6.8% (AMEX Biotech has 20 biotech companies while NASDAQ Biotech Index includes over 130 component companies), while the Dow Jones Biotech Index declined 3% (which includes 33 companies).At the same time, both the NASDAQ Composite and S&P 500 have achieved positive returns. NASDAQ has made a gain of 11% as of 5/26/09 and the S&P 500 has gained 0.8%, while the Dow Jones Industrials reached a negative 3.5% return.This constitutes a sharp contrast with last year when the Biotech industry as a whole achieved much better performance than the market. In 2008, all three biotech indices outperformed all three major market indices by a large margin. The three major indices declined ...

Dendreon: IMPACT data reported, uncertainty removed Yesterday (April 28), Dendreon Corp. (DNDN) shares swung widely before the final data of IMPACT trial were reported. Share price of this tiny biotech company rose as high as $25 and then declined to as low as $7.5 per share, which prompted a brief probe and trade halt by the NASDAQ market oversight body.We believe the wild ride reflected investors' nervousness about the data of the company's phase III IMPACT trial for Provenge. At 2 pm ET yesterday, Dendreon reported detailed data at the American Urological Association (AUA) Annual Meeting held in Chicago. Key findings from the trial include:Provenge extended median survival by 4.1 months compared to placebo (25.8 months versus 21.7 months). Provenge improved 3-year survival by 38% compared to placebo (31.7% versus 23.0%). The IMPACT study achieved a p-value of 0.032, successfully ...

A good balance sheet and a couple of of late-stage hormone therapy products underlie recently appointed CEO Dr. David Mazzo’s enthusiasm for the future prospects of the 16-year-old, Quebec-based biopharmaceutical firm Æterna Zentaris