Dendreon Ends June with $287M Cash

8/11/09

Dendreon, the Seattle developer of immune-boosting therapies for cancer, said today in its second-quarter financial report that it had $287 million in cash and investments at the end of June. The company (NASDAQ: DNDN) had total operating expenses in the second quarter of $20.9 million, as it continues to prepare its application to seek FDA approval of its first product, sipuleucel-T (Provenge) for men with terminal prostate cancer. Dendreon raised $221 million earlier this year, and is investing it in expanding manufacturing capacity at its existing facility in Morris Plains, NJ, and at new plants in the Atlanta area, and in Orange County, CA.

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