Dendreon Corporation (NASDAQ:DNDN) will need to flex its tendons

Posted by sara Frank August 12, 2013 0 Comment 834 views

Last week, Dendreon Corporation (NASDAQ:DNDN) reported its Q2 results. The net revenue of the quarter was $73.3m in comparison to the $80.0M that it stood at in the same quarter of 2012. On a sequential basis this had dipped 8.4% y-o-y and risen by 8.4%. In the Q2, the net loss was $68.8M or $0.45/share in comparison to the net loss of $96.1M or $0.65/share that it stood at the same quarter last year.

The report

As of 30 June 2013, the company had $280.6M in cash, cash-equivalents as well as long-term and short-term investments. In the same period of last year, DNDN has $429.8M in cash. The President, Chairman and CEO of Dendreon, John H. Johnson said that the company turned-around everything that had posed to be a challenge in the Q1 and there was strong growth in their large accounts. This is where their focus points lie.

Strong growth indicators

Urology was in the lead and had a quarter-over-quarter growth of 37%, which has been the company’s highest-ever in this particular segment. There has been very positive feedback coming in from patients, doctors as well as key-opinion leaders about PROVENGE. Johnson said that the company will continue spotlighting improvisation of its utilization via its d-t-c campaign. This has been showing very strong initial indicators.

Last week

At Fridays close, Dendreon Corporation (NASDAQ:DNDN) a shocking 26.14%. The opening price of the shares was $3.83 which reached an intraday high of $3.87 and closed at $3.39. This came in the wake of the company’s earnings report even as it posted losses that were far higher than projections. The company said that the 8.3% revenue slump to $73.29M had seen 45 cents/share drop and missed analysts’ projections of a 41 cents /share loss on $74.59 M revenue. The company has a market cap of 534.62M.

About sara Frank

Sara Frank is our chief congressional correspondent, Sara has covered the presidential campaign, Congress and congressional campaigns. Prior to that, she covered the U.S. House. Sarahas also worked covering the House, Senate and campaign finance. Among the numerous honors she has received for his reporting, Sara is the recipient of an Emmy Award from The National Academy of Television Arts and Sciences. She was also nominated four times for a national Cable Ace Award.

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