Analyst lays out worst-case scenario for Dendreon

Ever since Seattle-based Dendreon ($DNDN) admitted that its revenue from Provenge would fall short of last year's number, analysts have been steadily moving ever further away from the troubled company. But few will likely rival Wedbush Securities' David Nierengarten, a long-term bear on Dendreon, who sees little more than ruin ahead. Nierengarten's forecast on Dendreon shares? $0. As in bankrupt. With sales struggling and competing therapies coming into the market as it quickly burns through financial reserves, Nierengarten sees little opportunity for the biotech to avoid the worst-case scenario. Story

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