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Dendreon Reports Fourth Quarter and 2008 Year End Financial Results
Date:3/12/2009

CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three months ended Year ended December 31, December 31, 2008 2007 2008 2007 (unaudited) Revenue $28 $28 $111 $743 Operating expenses: Research and development 10,755 21,743 50,086 76,523 General and administrative 4,783 5,382 20,503 25,839 Total operating expenses 15,538 27,125 70,589 102,362 Loss from operations (15,510) (27,097) (70,478) (101,619) Interest income 712 1,717 3,619 6,461 Interest expense (1,161) (1,571) (5,156) (4,106) Gain from valuation of warrant liability 7,122 - 371 - Net loss ($8,837) ($26,951) ($71,644) ($99,264) Basic and diluted net loss per share ($0.09) ($0.32) ($0.79) ($1.20) Shares used in computation of basic and diluted net loss per share 95,109 83,051 90,357 82,531 December 31, December 31, 2008 2007 Balance Sheet Data: Cash and cash equivalents $59,523 $75,721 Short-term investments 45,638 27,115 Long-term investments 3,386 17,739 Total assets 147,204 161,662 Warrant liability 14,190 - Convertible senior subordinated Notes 85,2
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