Navigation Links
Dendreon Reports Third Quarter 2007 Financial Results

- Management Will Host Conference Call at 1:30 PM ET -

SEATTLE, Nov. 15 /PRNewswire-FirstCall/ -- Dendreon Corporation (Nasdaq: DNDN) today reported results for the quarter ended September 30, 2007. Revenue for the third quarter of 2007 was $112,000 compared to $84,000 for the quarter ended September 30, 2006. Revenue for the nine months ended September 30, 2007 was $715,000 compared to $187,000 for the nine months ended September 30, 2006.

Dendreon's total operating expenses for the third quarter of 2007 were $19.8 million compared to $21.7 million in 2006. Dendreon's total operating expenses for the nine months ended September 30, 2007 were $75.2 million compared to $73.6 million for the same period in 2006.

The net loss for the quarter ended September 30, 2007 was $19.2 million, or $0.23 per share, compared to a net loss of $20.7 million, or $0.29 per share, for the quarter ended September 30, 2006. The net loss for the nine months ended September 30, 2007 was $72.3 million, or $0.88 per share, compared to $70.2 million, or $0.98 per share for the nine months ended September 30, 2006.

Cash, cash equivalents and short-term and long-term investments at September 30, 2007 totaled $138.8 million compared to $121.3 million at December 31, 2006.

Recent Highlights:

-- Completed enrollment of over 500 patients in the Phase 3 IMPACT

(IMmunotherapy for Prostate AdenoCarcinoma Treatment, also known as

D9902B) clinical trial of PROVENGE(R) (sipuleucel-T). Dendreon

received confirmation that the FDA will accept either a positive

interim or positive final analysis of overall survival from the IMPACT

study to amend the Biologics License Application (BLA) and support the

efficacy claim for PROVENGE.

-- Implemented a committed equity financing facility under which the

Company may sell up to $130 million of its registered common stock to

Azimuth Opportunity, Ltd. over an 18-month period. Dendreon is not

obligated to utilize any of the $130 million facility and remains free

to enter into and consummate other equity and debt financing


-- Results from a Phase 1 study of NEUVENGE, an investigational active

cellular immunotherapy, were published in the August 20th issue of the

Journal of Clinical Oncology. The article highlighted the safety

profile, immune response and clinical activity of NEUVENGE in women

with HER2/neu-positive breast cancer who have failed standard therapy.

"We achieved an important milestone this quarter by completing enrollment of our Phase 3 IMPACT trial of PROVENGE, a therapy we believe has the potential to positively impact the lives of many prostate cancer patients who currently have few treatment options," said Mitchell H. Gold, M.D., president and chief executive officer of Dendreon. "We are grateful to the patients, clinical investigators and nurses who participated in this study. In addition, we would like to thank our vendors and suppliers, in particular the American Red Cross, Progenitor Cell Therapy and the Mayo Clinic, each of which provided high-quality, consistently excellent cell processing and service throughout the trial. We look forward to receiving interim results from this important study next year."

Conference Call Information

Dendreon will host a conference call today at 1:30 p.m. PT, 4:30 p.m. ET. To access the live call, dial 1-877-397-0235 (domestic) or +1 719-325-4876 (international). The call will also be audio webcast and will be available from the Company's website at under the "Investor/Webcasts and Presentations" section. A recorded rebroadcast will be available for interested parties unable to participate in the live conference call by dialing 1-888-203-1112 or +1-719-457-0820 for international callers; the conference ID number is 5547646. The replay will be available from 7:30 pm ET on Thursday, November 15 until 11:59 pm ET on Saturday, November 17. In addition the webcast will be archived for on-demand listening for 30 days at

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 and is traded on the Nasdaq Global Market under the symbol DNDN. For more information about the Company and its programs, visit

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 the Company's securities, pricing and other terms related to the sale of the notes, the efficacy of PROVENGE to treat men suffering from prostate cancer, risks and uncertainties surrounding the presentation of data to the FDA and approval of product applications by the FDA and risks and uncertainties inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics. Factors that may cause such differences include risks associated with completing our clinical trials, the risk that the safety and/or efficacy results of existing clinical trials or from additional clinical trials for PROVENGE will not support approval for a biologics license, the risk that the FDA may interpret data differently than we do or require more data or a more rigorous analysis of data than expected, the risk that the results of a clinical trial for PROVENGE or other product may not be indicative of results obtained in a later clinical trial, risks that we may lack the financial resources and access to capital to fund required clinical trials or commercialization of PROVENGE, our dependence on the efforts of third parties, and our dependence on intellectual property. Further 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



(in thousands, except per share amounts)

Three months ended Nine months ended

September 30, September 30,

2007 2006 2007 2006

Revenue $112 $84 $715 $187

Operating expenses:

Research and development 13,449 15,754 54,780 56,995

General and administrative 6,364 5,974 20,458 16,634

Total operating expenses 19,813 21,728 75,238 73,629

Loss from operations (19,701) (21,644) (74,523) (73,442)

Interest income 2,022 1,353 4,744 4,641

Interest expense (1,551) (452) (2,534) (1,354)

Net loss $(19,230) $(20,743) $(72,313) $(70,155)

Basic and diluted net

loss per share $(0.23) $(0.29) $(0.88) $(0.98)

Shares used in

computation of basic

and diluted net

loss per share 82,965 71,320 82,356 71,236

September 30, December 31,

2007 2006

Balance Sheet Data:

Cash and cash

equivalents $90,950 $60,964

Short-term investments 30,184 45,492

Long-term investments 17,694 14,827

Total assets 181,059 163,643

Convertible notes 85,250 -

Total stockholders' equity 64,611 125,717

SOURCE Dendreon Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
2. Dendreon Announces Webcast Presentation at UBS Life Sciences Conference
3. Dendreon Secures $130 Million Committed Equity Financing Facility
4. Dendreon Announces Webcast Presentations at Upcoming Investor Conferences
5. EpiCept Reports Expansion of Clinical Development For Licensed Cancer Compound
6. QMed, Inc. Reports July Medicare SNP Enrollments
7. Phlo Affiliate Reports Expanded Coverage to Oregon Border
8. Healthcare Technologies Reports Loss for 2007 Second Quarter & Six Months Results
9. Dragon Pharmaceutical Reports Growth in Sales and Profits during Second Quarter of 2007
10. Carrington Reports Second Quarter 2007 Results
11. Avitar Reports Third Quarter Financial Results for Fiscal 2007
Post Your Comments:
(Date:10/8/2015)...  The ALS Association, in partnership with Prize4Life, is ... revolutionize communication technology solutions for people living with ALS. ... (amyotrophic lateral sclerosis) is a progressive neurodegenerative disease that ... spinal cord. Eventually, people with ALS lose the ability ... to total paralysis and death within two to five ...
(Date:10/8/2015)... ... ... Talon Innovations, a provider of Precision Machined Products and Assemblies ... one of three finalists for the Minnesota Business magazine’s Manufacturing Award in the category ... was recognized as a nominee for this competitive award. , The “Best in ...
(Date:10/7/2015)... , Oct. 7, 2015 Boston ... the start of the Boston Scientific Connected Patient ... advancements in the use of remote patient monitoring to ... designers and entrepreneurs can submit their ideas and collaborate ... ( ). Cambridge, MA ...
(Date:10/7/2015)... -- ContraVir Pharmaceuticals, Inc. (Nasdaq: CTRV ) ("ContraVir" or ... and commercialization of targeted antiviral therapies, today announced the ... of its common stock and warrants to purchase up ... a fixed combined price to the public of $3.00. ... issued separately.  The warrants will be exercisable for a ...
Breaking Biology Technology:
... , , HUNTSVILLE, Ala., ... in nucleic acid therapeutics and delivery, announced today that Jason ... Pharmacology to Vice-President of Preclinical Research and Development. , ... management and scientific leadership experience in the biotechnology industry and ...
... , , SAN MARINO, Calif., ... has formed a wholly owned subsidiary called MetaCytoLytics, Inc. This ... of Colorado Professor M. Karen Newell called "metabolic disruption technology" ... generate energy from glucose or from fatty acids. That ...
... , , PASADENA, Calif., Aug. 6 AutoImmune ... $86,000, or $0.01 per share basic and diluted, for the three ... $86,000, or $0.01 per share basic and diluted, for the three ... 30, 2009, the net loss was $256,000, or $0.02 per share ...
Cached Biology Technology:
(Date:9/10/2015)... 10, 2015 Report Details ... Selling Opportunities and Revenue Prospects to Help You ... biologics, especially new drug classes? Get the latest ... with exclusive market data and industry knowledge, benefitting ... results, opportunities and sales predictions. Visiongain,s new ...
(Date:9/9/2015)... , Sept. 9, 2015  NuData Security ... and solution-based milestones, furthering the company,s commitment to ... online fraud. NuData Security,s online fraud ... the company,s growth cycle. The product combines continual ... determine good user behavior from fraudulent behavior, allowing ...
(Date:9/2/2015)... 2015 Security of data and assets ... government organizations, telecommunications, hospitals, as well as individuals. ... being used to prevent unauthorised access. Technological advancements ... individuals could gain access to secure premises after ... hardware devices and numeric codes. However, hackers also ...
Breaking Biology News(10 mins):
... for Medical Research have glimpsed two proteins working together ... nucleus and its exterior compartment, the cytoplasm. The research ... is found in organisms from yeast to humans does ... Investigator Sue Jaspersen, Ph.D., focused on a protein called ...
... at high elevations found in residents of the Tibetan ... related to contemporary Sherpa. These genes were passed on ... mixing, and then amplified by natural selection in the ... by scientists from the University of Chicago and Case ...
... that electrically stimulate the auditory nerve have granted ... people worldwide who otherwise would be totally deaf. Existing ... transmitter about an inch in diameter be affixed to ... joint microphone and power source that looks like an ...
Cached Biology News:
... CLS number is a new ... match Cornings product number. If ... order under the old Sigma-Aldrich ... service for assistance. ID clarifier: ...
... The GenElute Gel Extraction Kit combines silica- binding ... vacuum column format. DNA fragments of interest are ... solubilizing the gel. The Gel Solubilization Solution can ... in either TBE or TAE buffer. Extracted DNA ...
... are designed for the rapid purification of linear ... gels. The DNA band is excised from an,agarose ... within the base of the column are a ... and impurities back while allowing DNA to selectively ...
... Ultra Agarose Spin Kit is an advanced system for ... purified DNA can be used directly for any downstream ... DNA is ready to use in 56 minutes ... used for TAE and TBE gels No specialised ...
Biology Products: