A first-of-a-kind prostate cancer treatment

WASHINGTON - A first-of-a-kind prostate cancer treatment that uses the body's immune system to fight the disease received federal approval Thursday, offering an important alternative to more taxing treatments like chemotherapy.

What is Chemotherapy?

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Doctors examine the results of a patient's Positron Emission Tomography (PET) scan to look for cancer cells. US regulators have approved a ground-breaking treatment for advanced prostate cancer that uses a patient's own immune system to fight the disease, officials said Thursday.(AFP/Getty Images/File/Win Mcnamee)

Dendreon Corp.'s Provenge vaccine trains the immune system to fight tumors. It's called a "vaccine" even though it treats disease rather than prevents it.

Doctors have been trying to develop such a therapy for decades, and Provenge is the first to win approval from the Food and Drug Administration.

"The big news here is that this is the first immunotherapy to win approval, and I suspect within five to ten years immunotherapies will be a big part of cancer therapy in general," said Dr. Phil Kantoff, an oncologist at the Dana-Farber Cancer Institute who helped run the studies of Provenge.

Experimental vaccines to treat other cancers — including the deadly skin disease melanoma and an often fatal childhood tumor called neuroblastoma — are already in late-stage development.

Currently doctors treat cancer by surgically removing tumors, attacking them with chemotherapy drugs or blasting them with radiation. Provenge offers an important fourth approach by directing the body's natural defense mechanismsagainst the disease.

The treatment is intended for prostate cancer that has spread elsewhere in the body and is not responding to hormone therapy.

Medical specialists hailed the approval as an important milestone, but stressed it will serve as an addition to current medical practice, not a replacement.

"This is just one step in a new pathway for treating patients," said Dr. Simon Hall, chairman of urology at Mt. Sinai Hospital. "We have to make them realize this isn't a cure, it's very variable."

Company studies showed that taking Provenge added four months to the lives of men with advanced prostate cancer.

That may not sound like a lot, but it is longer than the three months afforded by Taxotere, the only chemotherapy approved for men in this situation. Doctors hope for even greater benefit if they give the drug earlier in the course of the disease.

Dendreon said Thursday the drug will cost $93,000 per patient.

The approval marks a remarkable turnaround for Seattle-based Dendreon, whose shares plummeted three years ago when the FDA delayed a decision on the therapy, asking for more proof of safety and effectiveness. That delay came despite an expert panel's recommendation for approval.

Dendreon shares jumped 19 percent to new highs ahead of the news, rising to an all-time high of $47.32. The company spent more than 15 years developing and testing Provenge.

Analysts expect the product to reach blockbuster sales status — over $1 billion — by 2016, as the company expands production capacity.

Each regimen of Provenge must to tailored to the immune system of the patient using a time-consuming formulation process.

Doctors collect special blood cells from each patient that help the immune system recognize cancer as a threat. The cells are mixed with a protein found on most prostate cancer cells and another substance to rev up the immune system. The resulting "vaccine" is given back to the patient as three infusions two weeks apart.

Initially, Dendreon will identify Provenge patients through the 50 medical centers that helped test the drug. But researchers have been told the company will only be able to provide vaccines for a few patients at each site per month.

"There are going to be a lot of patients that want it and there will be limited resources as they are getting this up and running," said Dr. Deborah Bradley of Duke University School of Medicine

About 192,000 new cases of prostate cancer were diagnosed in 2009, and 27,000 men died of the disease, according to the FDA. Prostate cancer most often affects older men.

Side effects of Provenge are relatively mild, such as chills, fatigue, fever, and headache. By comparison, side effects of chemotherapy typically include hair loss, nausea, anemia and diarrhea.

___

AP Business Writer Marley Seaman contributed to this story from New York

Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot April 27, 2010 Average List Price Median List Price Average Days On Market Anne Arundel County, MD Single Family under $500K $332,326 $329,000 130 Single Family over $500K $1,051,919 $759,900 188 Condo/Townhome under $300K $197,401 $214,263 127 Condo/Townhome over $300K $468,615 $376,040 134 Baltimore County, MD Single Family under $500K $282,548 $269,000 122 Single Family over $500K $923,116 $685,000 153 Condo/Townhome under $300K $170,939 $169,900 111 Condo/Townhome over $300K $434,545 $389,000 103 Baltimore City, MD Single Family under $500K $235,669 $220,000 127 Single Family over $500K $823,695 $699,000 156 Condo/Townhome under $300K $125,133 $119,999 137 Condo/Townhome over $300K $500,224 $399,999 130 Cecil County, MD Single Family under $500K $277,666 $265,000 150 Single Family over $500K $1,031,720 $700,000 258 Condo/Townhome under $230K $150,438 $158,900 137 Condo/Townhome over $230K $302,708 $274,900 129 Harford County, MD Single Family under $500K $311,009 $310,000 127 Single Family over $500K $766,160 $639,995 180 Condo/Townhome under $300K $190,051 $199,900 107 Condo/Townhome over $300K $403,571 $360,000 128 Howard County, MD Single Family under $500K $374,086 $380,000 104 Single Family over $500K $816,177 $699,500 156 Condo/Townhome under $300K $213,689 $222,500 87 Condo/Townhome over $300K $396,062 $355,990 65 Montgomery County, MD Single Family under $1M $528,021 $499,000 80 Single Family over $1M $2,098,033 $1,668,000 113 Condo/Townhome under $600K $266,997 $259,900 89 Condo/Townhome over $600K $1,100,952 $829,000 106 Prince Georges County, MD Single Family under $500K $258,915 $249,900 128 Single Family over $500K $854,956 $649,900 208 Condo/Townhome under $300K $164,981 $167,200 123 Condo/Townhome over $300K $391,939 $350,000 94

MORTGAGE. National Averages (April 27, 2010)* 30-year fixed Rate - 5.13% APR - n/a% 15-year fixed Rate - 4.38% APR - n/a% 5/1 ARM Rate - 3.86% APR - n/a%

Top Dream Home Dupes

New building exploded during the housing boom. So did lazy construction practices.

In early 2009 homeowners in Florida, Virginia and Louisiana began noticing odd things. Bathroom mirrors and pipes turned black. Computers and televisions stopped functioning, their circuit boards inexplicably fried. A foul smell plagued some houses. They reported health concerns too, from respiratory problems and bloody noses to insomnia.

In Depth: How To Detect Dream-Home Dupes

Research revealed that their homes were built with imported Chinese drywall, a material that came into use at the start of the housing boom and proliferated in certain Southeastern states when, in 2006 and 2007, damage from severe hurricanes added to demand for new building. The inexpensive and readily available alternative to American drywall contained hydrogen sulfide gas, which ate away at metals and affected air quality.

Recently, the Consumer Product Safety Commission (CPSC) recommended that any homes with the toxic walls be completely gutted. As of now, 3,082 complaints in 37 states have been lodged about the effects of the material.

"These states are on the coast [where] ships come in every day," says Alex Fillip, a spokesperson for the CPSC. "They needed resources and thought about where in the world they could get more drywall to keep up with demand."

But it wasn't just in these cases where a rush to build houses impaired quality. As demand for homes shot up between 2001 and 2006, some newly built and remodeled homes alike suffered from the effects of quick construction: subpar building techniques, slapdash repairs and cosmetic improvements that masked deeper problems.

How To Detect And Deal With Problem Homes

1. Don't Confuse Glitz With Quality

Between 2001 and 2007, homes got more expensive, bigger and bolder. In some cases homes were built with features that looked deluxe but weren't practical. Sweeping circular staircases and soaring ceilings may look grand, but they create inefficient spaces to heat and cool. Pay more attention to what's behind the walls and the cost of upkeep than what Patrick Duffy, consultant with MetroIntelligence Real Estate, a research firm, calls an "impress-the-in-laws foyer."

2. Don't Get Mixed Up By the Model

When developers are building a new tract or condominium, they'll demonstrate what a typical home will look like with a fully finished property. These model homes are essential for showing buyers what could be--but don't be fooled into thinking your home will look exactly the same. "When you walk through the model home, you think you're getting the model home," says Duffy. "But it includes upgraded amenities, better-quality carpeting, better flooring and better fixtures than a typical home."

3. Don't Settle For a Passing Grade

New structures must meet building codes, so a basic level of quality is assured. But just because a property is up to code doesn't mean it's structurally perfect. Before closing on a new home, hire a top-notch inspector. He or she can reveal weaknesses that might meet regulations but could cause you headaches down the line.

4. Temporary Fixes for Flippers

Many home remodelers do excellent jobs. But with the rise of home-flipping during the boom, some home sellers with less experience and fewer resources took shortcuts that didn't address the long term. Seeking out these quick fixes is the task of a good inspector, but knowing the history of your home and what improvements it has can also help.

5. Flimsy Facades

Builders and remodelers alike know the value of first impressions--creating "curb appeal" is a priority for anyone trying to sell a house. But buyers should look beyond pretty shrubbery to make sure what they're seeing is what they're getting. "You could have an elevation in the front that looked like rock or brick, but it's really a faux-brick material" says Duffy. "It's incumbent on buyers to ask about that."

Click here to see the full list of How To Detect Dream-Home Dupes

Success

One of the first things you need to do to become successful is to believe in yourself. You may not think that this is a skill you can learn, but you can. NePublish Postarly every successful person there is became successful because they believed in themselves...

5 Money Mistakes You Might Be Making (and How to Avoid Them)

If you could have more money in your checking account, you'd definitely take it, right? It probably comes as no shocker to you that it's really easy to let your funds slip away. But what you might find surprising is how simple it can be to turn things around for the better. Here are 5 common money mistakes with doable solutions.

Money Mistake #1: My Money Is Disappearing

No one starts the month planning to fritter away a small fortune, but that’s what can happen when minor expenses spiral out of control. It’s not just shopping at Saks that gets you into trouble. Seemingly innocent purchases — $15 jeans at Target, a few things for the kids at a two-for-one sale, the occasional Frappuccino — can do real damage to your bottom line.

What does it take to waste $10,000 a year? Just $27.40 a day. “You can undermine some of your most important goals with purchases you’ll never remember,” says Suzanna de Baca, president of Private Capital Solutions Group, a Des Moines, IA, investment advisory firm.

The fix: Know thyself financially. First step: Take five minutes and read through your latest bank statement. If the transactions seem unrecognizable and you have no idea why you went to the ATM a dozen times, spend a week tracking your spending (longer, if possible).

You can use a notebook, keep receipts in an envelope, try software like Quicken, or check out an online budgeting tool, like these two money sites we tested. Whichever you choose, find a money-tracking method that lets you see your purchasing patterns with fresh eyes.

Tip: Simple Ways to Save on Groceries

Money Mistake #2: I Throw Away Cash

Who would pass up free money? Maybe you, if you make only the minimum contribution to your employer’s 401(k) savings plan — or opt out of the plan on the grounds that money is tight. According to the 2008 Wachovia Retirement Survey, only about a quarter of women with 401(k)s contribute the maximum allowed. Puny 401(k) contributions mean you aren’t taking full advantage of any free matching funds your company offers. Says De Baca: “If your boss offered to add $25 to your weekly paycheck, would you turn it down? Of course not.” Most employers match all or part of the first 3 to 6 percent of pay employees contribute.

That might not sound like much, but take a look at the math: Assume your company will kick in 50 cents for every dollar you put in, up to 5 percent of your salary. If you’re 40 and making $40,000 but decide not to fund your 401(k), you could be giving up almost $230,000 over 25 years.

The fix: If money is so tight you can’t imagine saving two bucks, start small. You don’t have to put in the maximum $15,500 annual contribution ($20,500 if you’re 50 or older). Instead, increase your contribution by 1 percent of pay a year, until you get the full match. One painless way to save: When you get your next raise, use all or part of it to bump up your 401(k) contribution.

If your employer doesn’t offer a match, that doesn’t mean you should skip making contributions. Remember, a 401(k) lets you put away money tax-deferred. This doesn’t just lower your current tax rate; your earnings can really grow, because Uncle Sam isn’t taking a bite out of them.

Tip: Learn How to Protect Your Savings, Stock, 401(k), and Other Assets

Money Mistake #3: My Kid’s Budget Runneth Over

Many parents find themselves wrestling with financial discipline when it comes to their children, says Galia Gichon, creator of “My Money Matters” Kit, a box of financial tips and workbooks. Whether it’s snacks for the little ones at the market or new skate shoes for your tween, “it’s amazing how quickly saying yes can add up,” says Gichon, a New York City financial planner and mother of two.

The fix: Rather than simply saying no to your kids’ endless wish lists — which can lead to wrenching battles — protect your budget and sanity by teaching your children Money Management 101. “Distract and delay” tactics work especially well for children age 6 and under. If your young daughter is jumping up and down for something she wants at the store, says Gichon, “try focusing her attention on something else, or acknowledge what she wants and say that you can talk more about it later when you’re home.” You may have to endure a little complaining, but your child gets an important message about not buying things on a whim.

Tip: Need Help Sticking to a Budget? Try These Tips

Money Mistake #4: I Never Saw a Windfall I Couldn’t Spend

Whether you receive a raise, a tax refund, or a generous birthday check from Aunt Dotty, it’s hard not to view a windfall as an excuse to go shopping. Splurging can be fun, but that’s rarely the best use of your extra cash. “Few Americans are saving enough to cover day-to-day crises, never mind the future,” says Jonathan Pond, author ofGrow Your Money!

The fix: To make sure you don’t feel deprived, earmark some of the newfound money for a modest treat (Aunt Dotty would want it that way). Gichon suggests using 5 or 10 percent for something fun: “That way you do something for yourself — while deciding what to do with the rest.”

Put the remainder of the money where you won’t be as tempted to touch it. Consider an FDIC-insured, high-yield online savings account such as the one offered by ING Direct. It has no minimum balance requirement or fees, and this account typically pays higher-than-average interest rates.

Next, consider where the money would do you the most good. Tackle any small, urgent problems first — a sore tooth, the clunking sound your car makes, leaky windows. This will help avert the hardship of paying for a string of bigger expenses later on as little problems snowball into debt.
Set aside some of your windfall for expenses that you can’t predict precisely but you know will be coming sometime. “You may not know when your cell phone will quit or the water heater will break, but they will,” Pond advises.

Tip: Check Out 25 Ways to Save More Money This Year

Money Mistake #5: I Forget What I’m Worth

If you’re a stay-at-home mom or you work part-time, you may not have enough life insurance. Many women are under insured because they’ve under estimated their income or the value of their contributions to the household. De Baca recalls one client whose wife died in her 30s and had only a $100,000 life insurance policy, which didn’t cover the need for child care for the couple’s young children or the housekeeping chores the client then required.

The fix: A rule of thumb to determine the amount of insurance coverage that you need — multiply your annual expenses by the number of years until your youngest child will turn 18. (Some parents may also want to factor in the future cost of their kids’ college.) Life insurance premiums actually have plummeted in recent years. So if you’re a healthy nonsmoker in your 30s or 40s, you can now buy a $500,000 term insurance policy for about $40 a month.

You and your partner should revisit your insurance coverage annually — or at least after a major event, like the birth of a child. “It takes a lot to run a household, and you want to be covered,” says De Baca.

Tip: Learn How You Can Pay Less for Insurance

What are your biggest hurdles when it comes to savings? Have you discovered any tips for stashing more in the bank?

6 Things You're Doing to Delay Your Retirement

Millions of senior citizens are discovering that they do not have adequate financial resources to retire. Some seniors are unable to retire due to the recent economic crisis and others due to poor financial habits. The stark truth is this: financial decisions that you make on a daily basis have a direct impact on your financial future. Poor financial habits will have you working longer, retiring later and finding yourself flat broke in your golden years. Here are six financial habits that could be keeping you from reaching your retirement dreams.

Do you have to buy the latest model luxury car as soon as it hits the showroom floor? Do you spend a lot of money on impulse purchases that you really didn't plan on buying until you were in the mall? Trying to keep up with your neighbors by owning every possession that they have will delay your retirement. Status symbols may make you look financially prosperous but will have your bank account showing something completely different.

One of the most effective ways to reach your retirement goals is by simply living without your means. Set your budget and stick to it. Spending too much on expensive clothing and jewelry can have you spending your golden years right beside the Joneses in the financial poorhouse.

2. Bad Habits

Bad habits have a way of quickly eating up your retirement savings and keeping you from your retirement goals. Smoking, drinking and gambling are expensive habits to have and the cost is only going up each year. The average price for a pack of cigarettes nationwide is currently $5.00 according to Bankrate.

Smoking a pack of cigarettes a day will cost you $1,825 per year. Over a 50-year time period, the cost would be $91,250! That figure is based on cigarette prices not rising, which we all know is highly unlikely. New York residents are already paying over $10 for a pack of cigarettes.

While drinking a glass of wine a day may lengthen you life expectancy, imbibing too much alcohol may kill your finances. With the average price of beer running $4, just drinking two bottles of beer a day can cost you $56 a week. That's almost $3,000 a year that could have been used to fund your IRA.

You don't have to travel to Atlantic City or Las Vegas to gamble away your financial future. Everyday people give away their paychecks trying to hit the lottery jackpot. Imagine how much money you could save by not wasting $5 to $10 daily on card games, online games and lottery tickets.

3. Underfunding Your Retirement Plan

According to the Bureau of Labor Statistics, the average American has less than $50,000 in their retirement accounts. This includes young adults and baby boomers near retirement age. Poor financial planning is causing many senior citizens to work during their golden years. These seniors are finding it difficult to retire because they would not be able to enjoy the same quality of life. Social Security alone just won't cut it.

So, how can you avoid falling into the same situation? Sock away as much money as possible in your retirement plan. Max out your contributions and plan to save more money than you think you will need so that you can survive financial emergencies. The current economic downtown has forced many senior citizens to return back to the workforce.

4. Taking on Too Much Debt

The number one thing that keeps people from retiring is debt. Millions of Americans rack up huge amounts of debt due to auto loans, personal loans and credit cards. The Federal Reserve measured consumer debt at a whopping 2.46 trillion dollars. And that doesn't even include real estate debt! The average credit card debt per household is over $16,000 according to Creditcards.com.

The debt problem is not just specific to the United States. Millions of U.K. baby boomers have high mortgage balances and have relatively little money in savings.

5. Investing in Depreciable Assets

Investing in depreciable assets instead of appreciable assets can leave you with nothing to show for your hard-earned money except a lot of regrets. Depreciable assets are assets that are likely to decline in value such as cars, boats, computers and machines. Instead invest your money in appreciable assets like stocks, bonds, mutual funds, exchange traded funds and annuities. These assets have the ability to appreciate, and spend their time working for you instead of against you.

6. Spending Too Much on Entertainment

Hitting the town and eating luxurious dinners night after night will eat a huge hole in your retirement savings. Entertainment expenses can be major budget busters because they are often unplanned events. How many people keep track of how much money they spend at movies, restaurants, bars, nightclubs and sporting events? Small expenses like these may go unnoticed and leave you wondering where your paycheck went.

The Bottom Line

Retirement may seem like a long ways away but it is just around the corner. Avoiding poor financial habits and making solid financial decisions for your future will have you sipping Mai Tais on a Hawaiian island in no time.

5 Costly Mistakes First-Time Buyers Make

Buying a first home can be a daunting experience. Here are five common and costly mistakes that novice home buyers make:

1. Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased interest rates over the life of the loan.
2. Muddying the waters by shopping for other things before closing. Lenders continue to check credit scores right up until the time of closing. Too much shopping could cause the lender to take back the loan.
3. Scrimping on an inspection. Being surprised by the need for expensive repairs can be financially devastating.
4. Buying without contingencies. Buyers should give themselves an out if the inspection turns up problems or the bank raises the interest rates.
5. No money for insurance. Insurance can be surprisingly pricey. Buyers who don’t budget for it can face a nasty surprise.