In an unusual move, the first of its kind in Wall street, Dendreon Shareholders fired its sleeping/ defunct CEO Comrade Amick
Come on. I wrote the post below this, but please limit this to opinions and facts. I see no news anywhere about Amick being fired. The BOD is likely the reason for the silence as they likely see no way out from a litany of more suits. Why else would they still be here? They likely want to at least have some control of their own destiny.
Put "should be" between the two words and this title would have some value here. He has a bad history with IPOs and Aldagen was sold very cheaply after 2 failed IPOs, even though he was no longer there when it was sold. His quiet period here seems completely without precedent for a company with an FDA approved drug. Search his name in the link. Seems like a first class jerk if this is accurate. http://books.google.com/books?id=7k9Yi379W24C&pg=PT17&lpg=PT17&dq=tom+amick+female&source=bl&ots=9bqluD7Yme&sig=UA1rFXFw9I9ssm4jZDa6AKp7UTE&hl=en&sa=X&ei=CdNIVK2dNsqbigLgj4CgCA&ved=0CFIQ6AEwCA#v=onepage&q=tom%20amick%20female&f=false
Great news - one solace before this baby goes to BK. Very similar pattern like Savient: Johnson hired @ Savient No sales growth Johnson fired @ Savient a Crony like Amick takes over Savient 10Q filed Quiet period still cash-in hand 3 months in quite period, Savient files bankruptcy So JJ-Amick are a winning team!
Hope Dendreon Board is seriously working and they all surprise us with a positive news. This is really unprecedented for a company to be silent for 4-6 months.
The company has only been silent since the last 10Q was filed in August, and the will have to break that silence no later than November 10 when the next 10Q is due, a period of three months. Between quarterly filings the company is required to disclose material news and the lack of 8K filings tells you that not much is going on that they can disclose. The effect of a press release that says in essence "Hey, we are trying a bunch of strategies but none of them are working" would not help the situation. Exiting the current situation is going to be messy, no matter what happens, and negotiating those terms in full view of the investing public would be counterproductive. Patience young Jedi, patience.