Dendreon slashes jobs as it repositions

Dendreon slashed about 18 percent of its work force - 40 jobs - as it cuts back in the wake of a serious setback in its quest to gain approval for Provenge. The FDA recently demanded more information on Provenge as a condition for approval, and analysts have been looking for the company to make some significant cuts as it repositions itself for the long haul ahead. Dendreon shares surged somewhat on the news.

- check out the AP report on Dendreon