Originally published at www.seclive.com
Filing in Focus: Dendreon 10-Q, August 8, 2013
Dendreon Corporation (NASDAQ:DNDN) announced its financial results for the second quarter, reporting a net loss of $68.8M, an improvement from last year this quarter of $96.1M. Losses per share improved from $0.65 this quarter last year to $0.45 losses per share this quarter. The biotechnology company develops therapeutics to improve cancer treatment options for patients and experienced 37% growth in its urology business segment. The company's cash and cash equivalents decreased from $429.8M at the end of 2012 to $280.6M as of the end of June 2013. Dendreon chairman, president, and CEO John Johnson remarked that the company has made progress in the right direction after facing a tough first quarter. Though its product sales have improved, when examining its July and August trends, it is doubtful the company will meet its product sales growth goals.
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