Dendreon Corporation (NASDAQ:DNDN)’s Q2 results disappoints its analysts


Dallas, Texas 08/13/2013 (Financialstrend) – Dendreon Corporation (NASDAQ:DNDN) at the end of last week announced its results for the second quarter which ended on June 30, 2013. The company reported net product revenue of $73.3 million when compared to $80.0 million reported a year. It is down o8.4% year over year and up 8.4% on an order basis. Net loss has been reported as $68.8 million or $0.45 per share, when compared to a net loss of $96.1 million or $0.65 per share in the same period last year. The company in this quarter had $280.6 million in cash, short-term and long-term investments and cash equivalents when compared to $429.8 million reported last tear in the same quarter.

Dendreon Corp recently announced its contract about principle concerning clearance of securities class action trial pending in disagreement with the Western District of Washington’s United States District Court, this declaration will settle on the claims affirmed against all defendants in the earlier exposed suspected securities class action. The court case is currently waiting for the company and current and former executive officers. The conditions assured upon by the parties concerning with a settlement payment of $38 million, $40 million of which will be supported by Dendreon Corp‘s insurers.

There had been a decline of 0.59% in the shares of Dendreon Corp, which closed at $3.37 per share after opening at $3.46 for the day. The stock had presented intraday fluctuations on the range intraday low of $3.10 and intraday high of $3.47 per share on Monday. The shares had documented 52 week low at $3.10 and 52 week high at $7.22 per share. There are 157.70 million shares outstanding with a market cap of $531.46 billion and an institutional ownership of 59% of the total capital. The trading volume of Dendreon Corp was 13.87 million shares on Monday and the average volume is at 4.53 million shares per day.

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