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

to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to Dendreon on the date hereof, and Dendreon undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law. DENDREON CORPORATIONCONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts)Three months ended September 30,Nine months ended September 30,2010200920102009(unaudited)Revenue

$
20,219$
25$
23,050$
80Cost of revenue

12,433-15,125-Gross profit

7,786257,92580Operating expenses:Research and development

13,54116,49463,69841,613Selling, general and administrative

74,1359,301150,05022,126Total operating expenses

87,67625,795213,74863,739Loss from operations

(79,890)(25,770)(205,823)(63,659)Interest income

369196947725Interest expense

(191)(606)(615)(1,930)Loss from valuation of warrant liability

-(19,371)(142,567)(122,788)Net loss before income tax benefit

(79,712)(45,551)(348,058)(187,652)Income tax benefit

411-411-Net loss

$
(79,301)$
(45,551)$
(347,647)$  (187,652)Basic and diluted net loss per share

$
(0.56)$
(0.40)$
(2.54)$
(1.79)Shares used in computation of basic anddiluted net loss per share

141,996113,447136,735105,096September 30,December 31,20102009Balance Sheet Data:Cash and cash equivalents

$
78,907$
409,829Short-term investments

196,106167,116Long-term investments

17,71129,441Trade accounts receivable

12,028-Prepaid antigen costs

26,23418,975Inventory

11,9541,882Total  assets

690,531735,415Warrant liability

-132,953Convertible senior subordinated notes

52,53552,535Total stockholders' equity

538,193503,564
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SOURCE Dendreon Corporation
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