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Dendreon Reports Third Quarter 2008 Financial Results

$26 $112 $83 $715

Operating expenses:

Research and development 12,660 13,449 39,331 54,780

General and administrative 4,625 6,364 15,720 20,458

Total operating expenses 17,285 19,813 55,051 75,238

Loss from operations (17,259) (19,701) (54,968) (74,523)

Interest income 819 2,022 2,907 4,744

Interest expense (1,218) (1,551) (3,995) (2,534)

Loss from valuation of warrant

liability (9,119) - (6,751) -

Net loss $(26,777) $(19,230) $(62,807) $(72,313)

Basic and diluted net loss per

share $(0.29) $(0.23) $(0.71) $(0.88)

Shares used in computation of basic

and diluted net loss per share 91,723 82,965 88,762 82,356

September 30, December 31,

2008 2007

Balance Sheet Data:

Cash and cash equivalents $61,839 $75,721

Short-term investments 35,654 27,115

Long-term investments 9,077 17,739

Total assets 145,144 161,662

Warrant liability 21,313 -

Convertible senior subordinated

notes 85,250 85,250

Total stockholders' equity 13,579 40,377

SOURCE Dendreon Corporation
Copyright©2008 PR Newswire.
All rights reserved

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