– The FDA Approves Provenge, a Prostate Cancer “Vaccine”
Summary: Today, the news broke that the FDA has approved a drug that could extend the lives of some patients suffering from late-stage prostate cancer. For Wall Street, it’s a big story. For cancer researchers, it could represent a break-through. For some of today’s patients, it may be good news—if they can afford the drug.
The headlines are everywhere:
“FDA approves breakthrough cancer therapy Provenge”
“Dendreon (DNDN) is trading at $53.50 after last trading at $45.50 before the halt“
“Dendreon: Provenge boosts survival 40 pct”
What does Provenge actually do? The company calls it a “vaccine,” but it doesn’t prevent prostate cancer. Nor does it cure prostate cancer. Contrary to what you may have read, it doesn’t “save lives.”
It extends the lives of men suffering from late-stage prostate cancer by an average of 4 months. The patients in a trial of 512 men lived a median time of 25.8 months if they received Provenge, compared to 21.7 months if they got the placebo. (I have no idea why Reuters claims that Provenge boosts survival by 40 percent.)