The rapid mood swings of biotech investors was evident this morning as shares of Dendreon slumped 8.4 percent on worries that the stock price had climbed too high. Dendreon's share price had tripled in the days after an FDA expert committee voted in favor of its prostate therapy Provenge. Some analysts are betting that the FDA--which will make the final decision on Provenge by May 15--will either give it a complete approval or issue an approvable letter looking for additional data. In the meantime, the share price remains highly volatile.
- read the Forbes report on the stock swing