DNDN Dendreon: Earlier than expected manufacturing capacity should address concen over a slow launch - Deutsche Bank (23.87 +0.06) -Update-

Deutsche Bank notes that DNDN just released their 10-Q ahead of tomorrow's earnings call. In the 10-Q the company notes that effective July 31st, they entered into a lease for a building to be constructed in Atlanta, GA of 160K rentable square feet. While effective August 7th, 2009 the co entered into a lease for space in Orange county totalling ~184K square feet of rentable space. Combined, both facilities will add ~340K of square feet. This is in addition to the 160K square feet available at the New Jersey facility. The firm estimates that this will translate into the co being able to treat ~35,000 patients per year once facilities are up and running at max capacity. As a result, the co's timelines for Provenge are believed to be ahead of expectations, and the concerns over a slow launch, should be somewhat subdued.