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Dendreon Announces Proposed Public Offering of Common Stock
Date:12/8/2009

SEATTLE, Dec. 8 /PRNewswire-FirstCall/ -- Dendreon Corporation (Nasdaq: DNDN) announced today that it has commenced an underwritten public offering, subject to market and other conditions, of 15,000,000 shares of its common stock pursuant to an effective shelf registration statement. Dendreon intends to grant to the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock to cover over-allotments, if any. J. P. Morgan Securities Inc. and Deutsche Bank Securities Inc. will act as joint book-running managers of the offering.

Dendreon intends to use the net proceeds of the offering to fund expenditures in connection with the investment in its manufacturing facilities, including the accelerated build-out of new facilities in Atlanta, Georgia and Orange County, California (providing for additional capacity from such facilities in mid 2011) and build-out of the remaining capacity at its Morris Plains, New Jersey facility, to fund investment in information technology infrastructure and product support systems, to hire manufacturing, sales and marketing, quality and other personnel in preparation for the licensure by the FDA and commercialization of PROVENGE® (sipuleucel-T), for third-party contract supply costs, and for general corporate purposes, including working capital.

Dendreon has filed an automatically effective registration statement on Form S-3 relating to the sale of these securities with the Securities and Exchange Commission (the "SEC"). Copies of the preliminary prospectus supplement and related base prospectus for this offering, when available, may be obtained by contacting: J.P. Morgan Securities Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling 1-866-803-9204; or Deutsche Bank Securities Inc., Prospectus Depart
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SOURCE Dendreon Corporation
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