Dendreon Corporation (DNDN) Announces Fourth Quarter and 2012 Year End Results
2/25/2013 6:11:04 AM
Dendreon Corporation (Nasdaq: DNDN) today reported results for the fourth quarter and full year ended December 31, 2012. Net product revenue for the year ended December 31, 2012 was $325.3 million compared to $213.5 million for the year ended December 31, 2011. Net product revenue for the fourth quarter ended December 31, 2012 was $85.5 million, which includes a $3.8 million favorable adjustment to the Company’s chargebacks reserve due to a change in estimate. On a pro-forma basis, excluding this adjustment, net product revenue for the quarter and year ended December 31, 2012 was $81.6 million and $321.5 million, respectively, up 5% on a sequential quarter over quarter basis and 51% year over year.