It was announced this morning that Dendreon (the manufactures of Provenge) has filed for voluntary Chapter 11 Bankruptcy. After having spoken with a representative at Dendreon I have learned that the company has been in negotiations with its creditors and agreed to voluntarily file for financial reorganization. The agreement that Dendreon has reached with their creditors specifies that the reorganization will either allow another company to take over Dendreon to continue the production of Provenge or to privatize the company which will also continue the production of Provenge.

Dendreon plans on fully continuing their operations, both providing commercial distribution and supporting any clinical trials current being conducted. Dendreon had notes valued over 620 million dollars coming due in 2016 which they would not be able to re-pay. Given the alternative of involuntary dissolution this current turn of events will hopefully allow for the continuation of uninterrupted distribution of Provenge.

Dendreon has been planning to move to the European market, but they have already bumped into some resistance because of the cost of the treatment ( Malecare has been told that despite this setback they are still planning on developing o