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Dendreon Announces Closing of Common Stock Offering
Date:5/13/2009

SEATTLE, May 13 /PRNewswire-FirstCall/ -- Dendreon Corporation (Nasdaq: DNDN) announced today the closing of its previously reported underwritten public offering of 10,700,000 shares of its common stock, which shares were offered for sale to the public at $19.20 per share. On May 8, 2009, Deutsche Bank Securities Inc., acting as sole manager of the offering, exercised in full its over-allotment option to purchase an additional 1,279,166 shares of common stock at the public offering price of $19.20 per share. The exercise of the option increased the size of the offering to an aggregate of 11,979,166 shares of common stock.

Dendreon received net proceeds from the offering of approximately $221 million, after deducting underwriting commissions and estimated offering expenses. Dendreon plans to use the net proceeds of the offering to develop manufacturing facilities, a distribution network, an information technology platform and other infrastructure, to hire sales and marketing, manufacturing, quality and other personnel in preparation for the licensure by the FDA and commercialization of PROVENGE(R) (sipuleucel-T), and for general corporate purposes, including working capital.

Copies of the prospectus supplement relating to the offering may be obtained by contacting: Deutsche Bank Securities Inc., Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey 07311-3988, telephone: 1-800-503-4611.

Shelf registration statements relating to the sale of the securities were filed with the Securities and Exchange Commission and were effective on August 29, 2008 and May 7, 2009. 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 the securities in any state or jurisdiction in which such offer, solicitation or sale woul
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