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Dendreon Reports Third Quarter 2010 Financial Results
Date:11/3/2010

eptember 30, 2010 was $347.6 million, or $2.54 per share, which includes a non-cash charge associated with the revaluation of warrants of $142.6 million or $1.04 per share, compared to $187.7 million, or $1.79 per share for the nine months ended September 30, 2009, which included a non-cash charge of $122.8 million or $1.17 per share for warrant revaluation.

As of September 30, 2010, Dendreon had $392.7 million in cash, cash equivalents, and short-term and long-term investments compared to $606.4 million as of December 31, 2009.

Highlights include:

  • Since approval Dendreon has received over 1,000 prescriptions for PROVENGE.
  • Dendreon is on track to make PROVENGE more broadly available in 2011 with the expansion and anticipated licensure of its New Jersey facility in early 2011 and its facilities in Atlanta, Georgia and Orange County, California in mid-2011, for which construction is substantially complete.
  • Dendreon’s revenue guidance for full year 2010 is approximately $46-47 million and for 2011 is expected to be in the range of $350-400 million, with approximately half of that expected to be generated in Q4, based on a standard FDA review period and approval of our new manufacturing facilities.
  • PROVENGE data were presented at the Asian Congress of Urology, European Society of Medical Oncology, and the International Society for Biological Therapy of Cancer.

  • Conference Call InformationDendreon will host a conference call today at 1:30 p.m. PT, 4:30 p.m. ET. To access the live call, dial 1-866-730-5769 (domestic) or +1-857-350-1593 (international); the conference pass code is 35737817. The call will also be audio webcast and will be available from the Company's website at www.dendreon.com under the "Investor/Webcasts and Presentations" section. A recorded rebroadcast will be available for interested parties unable to participate in the live conference call b
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    SOURCE Dendreon Corporation
    Copyright©2010 PR Newswire.
    All rights reserved

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