Dallas, Texas 09/09/2013 (Financialstrend) – In Friday’s trading session, Dendreon Corporation (NASDAQ:DNDN) rose by 1.055%. The opening price of the shares was $2.87 which rose to an intraday high of $2.93 and closed at $2.88. More than 2.14 million shares were traded on Friday while the average volume of shares traded over 30 days was 5.22 million. DNDN has a market cap of $454.19 million.
On 8 August, the company had reported its second quarter financial results. This was for the quarter that ended 30 June 2013. The net product-revenue for the quarter stood at $73.3 million in comparison to the $80.0M that it stood at in the same quarter in 2012.
This was a decrease of 8.4% on a year-on-year basis and an 8.4% rise on a sequential basis. In the Q2, the net loss stood at $68.8M or $0.45/share in comparison to the $96.1M net loss or $0.65 that it stood at in the same quarter in 2012.
About the company
Dendreon Corporation (NASDAQ:DNDN) is a biotech company that focuses on discovering, developing and commercializing therapeutics that might improve cancer-treatment for patients in a significant manner. Its product-portfolio includes various active cellular immunotherapies as well as a small-molecule product candidate. This has some possible uses in different types of cancers. The company’s 1st commercialized product is PROVENGE and it has received U.S Food Drug Administration approval. It is an autologous cellular-immunotherapy that is used to treat minimally asymptomatic or asymptomatic , castrate-resistant, metastatic prostate cancer.
The company owns global rights for PROVENGE. DNDN has various other product candidates that are under development. These product candidates include DN24-02, the company’s active cellular immunotherapy. Dendreon Corporation (NASDAQ:DNDN)
Has now completed its Phase II trial in 2012 April in which the Transient Peceptor Potential was evaluated. DN24-02 may also be used in the treatment of various tumors that express HER2 such as ovarian, breast and bladder cancers.