Dendreon Burns $28M in Q3
Dendreon (NASDAQ: DNDN), the Seattle-based developer of a new treatment to stimulate the immune system against prostate cancer, said today in its quarterly financial report that it ended September with $259.6 million in cash and investments. That means it burned through about $28 million in cash during the last three months, based on its previous quarterly report, in which it said it finished the month of June with $287.5 million in the bank. The company is preparing to manufacture and market sipuleucel-T (Provenge) for men with terminal prostate cancer. Dendreon raised $221 million in May to pursue that goal.