News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Dendreon Corporation (DNDN) Stock Battered by Weak Sales Forecast for Provenge



2/28/2012 8:03:20 AM

CEO John Johnson said fourth-quarter sales were better than expected, but added that their strength came from some patients starting treatment in December instead of January. That will hurt the first-quarter results. Shares of Dendreon tumbled Monday after the Seattle biotechnology company forecast disappointing first-quarter sales of its prostate-cancer therapy Provenge. Dendreon reported fourth-quarter results Monday, saying it earned $38.1 million, or 26 cents a share, in the December quarter. A year earlier, it had lost $91.8 million, or 64 cents a share. Revenue climbed to $202.1 million from $25 million, as Provenge sales totaled $77 million.

Read at Seattle Times
Read at Daily Finance
Read at Wall Street Journal
Read at Xconomy


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES