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Dendreon Execs Sell Shares

Dendreon CEO Mitchell Gold and other executives sold big stakes in the company a day after reporting positive results of their immune-stimulating drug for prostate cancer, according to this Dow Jones report. Gold sold 600,000 shares of the company at $24.92 apiece on April 29, generating gross proceeds of $15 million, according to this filing with the Securities and Exchange Commission. That represents about 41 percent of Gold’s stake in the company as of April 15. Chairman Richard Brewer; Greg Schiffman, the chief financial officer; Mark Frohlich, the chief medical officer; and others also sold stakes in Dendreon (NASDAQ: DNDN), according to the SEC.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

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