recent dndn survey: good provenge uptake

A window into PRR's potential after FDA approval is indicated by the trend for Dendreon shown below.

Maybe this news will help attact US investors to Prima as the potential for capital growth in our little biotech company becomes more obvious.

here is part of the DNDN article:

Dendreon (DNDN) Higher After Positive PROVENGE Survey Results

July 26, 2010 11:12 AM EDT

Shares of Dendreon Corp. (Nasdaq: DNDN) are higher today, benefiting from the results of a Leerink Swann survey which showed positive near-term use potential of PROVENGE.

The firm said, "Our survey sample encompasses 13 distinct institutions or about a quarter of 50 initial sites. According to physician responses, at least 16 patients were treated with PROVENGE at the 13 centers by the time of our survey in late June to early July.

A rough extrapolation of these patient numbers corresponds to $2.9-3.6M in PROVENGE sales in 2Q, generally in line with our and Street estimates of $3M and $4M, respectively."

The firm said the survey showed that the reasons cited by the physicians for not yet prescribing the agent do not appear particularly ominous for future use. They said more than half of the physicians who had not prescribed PROVENGE expected doing so by August, and majority of current PROVENGE prescribers were not waiting for confirmation of reimbursement before prescribing to additional patients. Nearly all respondents expect their centers to fully utilize a three patients per center per month quota by the end of 2010, the firm notes.

The firm also notes no major reimbursement, pre-authorization or logistical issues were reported in their survey.

The survey projects high penetration (63%) into on-label setting of asymptomatic / minimally symptomatic patients and significant penetration (26%) in the off-label setting of symptomatic patients, at the end of 2013. This is positive as the firm had only modeled a 17% on-label penetration in 2013 and no off-label use.

The firm reiterated their Outperform rating and $55 price target on Dendreon .