Navigation Links
Dendreon Announces $47 Million Registered Direct Offering
Date:4/3/2008

SEATTLE, April 3, 2008 /PRNewswire-FirstCall/ -- Dendreon Corporation (Nasdaq: DNDN) today announced that it has entered into a definitive agreement with an institutional investor to sell 8.0 million shares of its common stock and warrants to purchase up to 8.0 million shares of its common stock for gross proceeds of approximately $47 million, before deducting placement agent fees and estimated offering expenses, in a "registered direct" offering. The investor has agreed to purchase the shares of common stock and warrants to purchase common stock at a negotiated purchase price of $5.92 per share and a warrant exercise price of $20.00 per share. For the common stock purchased, this represents a 17% premium to the closing bid price of the common stock on April 2, 2008. The warrants will be exercisable at any time on or after October 8, 2008 and prior to the seventh anniversary of the closing of the transaction. The closing bid price of the common stock on the Nasdaq Global Market on April 2, 2008 was $5.06 per share. Lazard Capital Markets LLC served as sole placement agent for the offering.

The securities described above are being offered by Dendreon pursuant to registration statements previously filed and declared effective by the Securities and Exchange Commission (the "SEC"). The transaction is expected to close on or about April 8, 2008, subject to customary closing conditions. We intend to use the net proceeds from the sale of the shares to fund our commercialization activities for Provenge(R) (sipuleucel-T), including the investment in specialized technology systems; to fund clinical trials for PROVENGE and our other product candidates; to fund our other research and preclinical development activities for our active immunotherapies and small molecule products; to satisfy third party obligations; and for other general corporate purposes, including working capital. We also may use a portion of the net proceeds to acquire complementary technologies or products, although we currently have no agreements or commitments in this regard.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov or from Lazard Capital Markets LLC at 30 Rockefeller Plaza, 60th Floor, New York, NY, 10020.

About Dendreon

Dendreon Corporation is a biotechnology company whose mission is to target cancer and transform lives through the discovery, development and commercialization of novel therapeutics that harness the immune system to fight cancer. The Company applies its expertise in antigen identification, engineering and cell processing to produce active cellular immunotherapy product candidates designed to stimulate an immune response. Active cellular immunotherapy holds promise because it may provide patients with a meaningful clinical benefit, such as survival, combined with low toxicity. The Company has its headquarters in Seattle, Washington and is traded on the Nasdaq Global Market under the symbol DNDN. For more information about the Company and its programs, visit http://www.dendreon.com.

Except for historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties. Factors that could affect these forward-looking statements include, but are not limited to, market demand for Dendreon's common stock and events and developments affecting Dendreon's business and prospects. Information on the factors and risks that could affect Dendreon's business, financial condition and results of operations are contained in Dendreon's public disclosure filings with the U.S. Securities and Exchange Commission, which are available at http://www.sec.gov.


'/>"/>
SOURCE Dendreon Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Dendreon Reports Fourth Quarter and 2007 Year End Financial Results
2. FDA Agrees to Amend Dendreons Special Protocol Assessment for Phase 3 IMPACT Study of PROVENGE
3. -Dendreon to Hold Conference Call on Thursday, March 13, 2008 at 11:00 AM ET-
4. Dendreon Publishes Manuscript on CD54 as a Surrogate Marker of Antigen Presenting Cell Activation
5. Dendreon Announces Webcast Presentation at BIO CEO & Investor Conference
6. Dendreon Promotes Dr. Mark Frohlich to Senior Vice President of Clinical Affairs and Chief Medical Officer
7. Dendreon Reports Third Quarter 2007 Financial Results
8. Dendreon Announces Webcast Presentations at Upcoming Investor Conferences
9. Dendreon Secures $130 Million Committed Equity Financing Facility
10. Dendreon Announces Webcast Presentation at UBS Life Sciences Conference
11. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... AUSTIN, Texas , Feb. 11, 2016  Vermillion, ... focused on gynecologic disease, today announced the formation of ... --> --> Pelvic ... in both diagnosis and management. Once pregnancy is ruled ... fallopian tubes and ovaries, advanced endometriosis, benign ovarian tumors ...
(Date:2/11/2016)... , Feb. 11, 2016  Wellcentive today announced ... Portland, Oregon -based community care organization ... population health analytics, quality reporting and care management ... strengthen its team of quality managers, analysts and ... the provider groups serving FamilyCare members. ...
(Date:2/11/2016)...   BioInformant announces the February 2016 release ... Opportunities, Tools, and Technologies – Market Size, Segments, Trends, ... The first and only market ... BioInformant has more than a decade of historical information ... stem cell type. This powerful 175 page global strategic ...
(Date:2/10/2016)... Febr. 10, 2016 /PRNewswire/ - BioAmber Inc. (NYSE: BIOA ... announce that Mitsui & Co. Ltd., its partner in ... plant, is investing an additional CDN$25 million in the ... stake from 30% to 40%.  Mitsui will also play ... produced in Sarnia , providing dedicated ...
Breaking Biology Technology:
(Date:1/22/2016)... , January 22, 2016 ... the addition of the  "Global Behavioral ... offering. --> http://www.researchandmarkets.com/research/4lmf2s/global_behavioral ) ... "Global Behavioral Biometric Market 2016-2020"  report ... Research and Markets ( http://www.researchandmarkets.com/research/4lmf2s/global_behavioral ) has ...
(Date:1/20/2016)... SAN JOSE, Calif. , Jan. 20, 2016 ... leading developer of human interface solutions, today announced ... touch controller solution for wearables and small screen ... appliances such as printers. Supporting round and rectangular ... the S1423 offers excellent performance with moisture on ...
(Date:1/11/2016)... Calif. , Jan. 11, 2016 Synaptics ... human interface solutions, today announced that its ClearPad ® ... integration (TDDI) products won two separate categories in the ... Mobile Innovator and Best Technology Breakthrough. The Synaptics ® ... cost, a simplified supply chain, thinner devices, brighter displays ...
Breaking Biology News(10 mins):