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Stock Market & Financial Investment News

News Breaks
February 25, 2013
07:32 EDTDNDNDendreon reports Q4 EPS (26c), consensus (56c)
Reports Q4 revenue $85.5M, consensus $82.88M. The company expects to reduce cost of goods sold to below 50% of net product revenue in the beginning of 3Q13. Expects to begin to see net benefits associated with the restructuring initiatives to begin to appear in financial results as early as 1H13, with full benefits realized in Q313. Says actively evaluating partnering strategies for European expansion; continuing to enroll patients in the sipuleucel-T European Union open-label study; expect a mid-2013 regulatory decision in Europe.
News For DNDN From The Last 14 Days
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August 19, 2014
13:00 EDTDNDNDendreon alternatives could leave no equity value, says Brean Capital
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August 12, 2014
16:32 EDTDNDNOn The Fly: Closing Wrap
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12:37 EDTDNDNOn The Fly: Midday Wrap
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09:35 EDTDNDNActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOG C TSL EXAS BAC DNDN JNJ TSLA
09:21 EDTDNDNOn The Fly: Pre-market Movers
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08:16 EDTDNDNDendreon reports Q2 EPS (10c), consensus (20c)
Reports Q2 revenue $82.16M, consensus $82.2M. Results reported last night in a regulatory filing. Dendreon stated in the filing, "Our stock price is well below the $51.24 effective conversion price for the 2016 Notes, making it unlikely that the holders of the 2016 Notes will exercise their conversion right. As a result, we assume that, absent the execution of a transaction of the type described below, we will be required under the terms of the 2016 Notes to repay the full $620 million principal amount at maturity. Based on our currently anticipated operating results, however, and even assuming the realization of future expense reductions that we plan to make and product revenues that we forecast, there is a significant risk that, while we believe we have sufficient cash to meet our ordinary course obligations for at least the next twelve months, we will not be able to repay or refinance the 2016 Notes. Accordingly, we are currently considering alternatives to the repayment of the 2016 Notes in cash, including alternatives that could result in leaving our current stockholders with little or no financial ownership of Dendreon. Our Board of Directors will consider any strategic alternatives that might be presented by third parties, though there can be no guarantee that any such alternative will provide value for the Company’s stockholders."
08:12 EDTDNDNDendreon Provenge sales seem to be stabilizing, says Maxim
Maxim says sales of Dendreon's Provenge look to be stabilizing after the company disclosed Q2 revenue of $82M, versus the prior quarter's $68M. However, Maxim thinks the competitive landscape is becoming more difficult and that the probability of Dendreon being acquired is falling. It keeps a Hold rating on the stock.
07:34 EDTDNDNDendreon drops 12% to $1.86 after saying 'no guarantee' for shareholders
07:32 EDTDNDNDendreon says alternatives could leave shareholders with no ownership
Dendreon disclosed last night in its quarterly filing, "Based on our currently anticipated operating results, however, and even assuming the realization of future expense reductions that we plan to make and product revenues that we forecast, there is a significant risk that, while we believe we have sufficient cash to meet our ordinary course obligations for at least the next twelve months, we will not be able to repay or refinance the 2016 Notes. Accordingly, we are currently considering alternatives to the repayment of the 2016 Notes in cash, including alternatives that could result in leaving our current stockholders with little or no financial ownership of Dendreon. Our Board of Directors will consider any strategic alternatives that might be presented by third parties, though there can be no guarantee that any such alternative will provide value for the Company’s stockholders."

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