Dendreon Reports First Quarter 2009 Financi... ( SEATTLE May 6 /- Dendreon Corporation...)

Dendreon Reports First Quarter 2009 Financial Results

Date:5/6/2009

SEATTLE, May 6 /PRNewswire-FirstCall/ -- Dendreon Corporation (Nasdaq: DNDN) today reported results for the first quarter ended March 31, 2009. Revenue for the first quarter of 2009 was $30,000 compared to $31,000 for the quarter ended March 31, 2008.

Dendreon's total operating expenses for the three months ended March 31, 2009 were $17.0 million compared to $19.2 million for the same period in 2008. The net loss for the quarter ended March 31, 2009 was $15.4 million, or $0.16 per share compared to a net loss for the same quarter of 2008 of $19.5 million, or $0.23 per share. Cash, cash equivalents, short-term, and long-term investments at March 31, 2009 totaled $91.2 million compared to $108.5 million at December 31, 2008.

Recent Events:

Reported final analysis of the IMPACT (IMmunotherapy for Prostate AdenoCarcinoma Treatment) Phase 3 trial for PROVENGE (sipuleucel-T) which demonstrated a statistically significant increase in overall survival. Data were presented at the American Urological Association (AUA) Annual Meeting. Based on these data, the Company intends to amend its Biologics License Application (BLA) with the U.S. Food and Drug Administration (FDA) in the fourth quarter of this year.
Presented preclinical data at the AUA meeting announcing that D3263, a small molecule targeting TRPM8 (a transmembrane cation channel protein), reduced the size of the prostate in an animal model of benign prostatic hyperplasia (BPH) alone or in combination with finasteride.
Initiated a Phase 1 clinical trial of D3263 in patients with advanced cancer. The trial is an open-label, dose-escalation study evaluating the safety and pharmacokinetics of orally-administered D3263 targeting TRPM8 in patients with solid tumors that are refractory to standard therapies.

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Related biology technology :

1. Dendreon Announces Data Presentations and Webcast at AUA Annual Meeting
2. Dendreon Announces Data on PROVENGE Potency and Long-Term Immune Responses in Androgen-Dependent Prostate Cancer
3. Dendreon Reports Fourth Quarter and 2008 Year End Financial Results
4. Dendreon Announces Webcast Presentation at Eleventh Annual BIO CEO & Investor Conference
5. Dendreon Announces Webcast Presentation at 27th Annual J.P. Morgan Healthcare Conference
6. Dendreon Reports Third Quarter 2008 Financial Results
7. Dendreon Announces Webcast Presentations at Upcoming Investor Conferences
8. Dendreon Presents Preclinical Data Validating Anti-Tumor Activity of D-3263, a Trp-p8 Agonist
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10. Dendreon Announces Webcast Presentation at Newsmakers in the Biotech Industry Conference
11. Dendreon Initiates Second of Two New Phase 2 Trials of PROVENGE for Prostate Cancer

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Dendreon Reports First Quarter 2009 Financi...( SEATTLE May 6 /- Dendreon Corporation...)