Dendreon (DNDN) Q4 results and call

Dendreon Q4 2010 analyst call summary, my notes from today's conference.

In short, the Provenge rollout is going as planned. This month the FDA should approve the addition of new Provenge work stations to the Dendreon New Jersey facility. When those stations come online capacity will be up fourfold. That ramp should occur in Q2. The current run rate is under $30 million per quarter, so the new run rate potential would be $120 million per quarter.

The buildout at Atlanta and Los Angeles is on schedule for going online later in the year. The quarter run rate when all systems are go should be about $360 million per quarter, or $1.3 billion per year.

There is no shortage of patients. There is a waiting list. New doctors and medical centers are being signed up, so as the machines become available their should be patients getting prescriptions for them.

Prostate cancer patients have some of their blood removed, then processed to tell their immune system to attack the cancer. The therapy is called Provenge; it is not a drug per se.

The biotechnology company is also setting up clinical trials to see if the general process will work for other types of cancer.

See also http://www.dendreon.com/