Dendreon Corporation (DNDN) Slashes 15 Percent Of Jobs As Provenge Sales Disappoint
11/12/2013 7:25:59 AM
Dendreon is cutting staff but others are hiring! Check it out! (Isn't it tempting?)
Biotechnology company Dendreon Corp said it would restructure to cut costs after reporting another quarter of weak sales of its prostate cancer vaccine, Provenge. Net product revenue, reflecting Provenge sales, fell 13 percent to $68 million in the third quarter, short of analysts' average estimate of $76.3 million, according to Thomson Reuters I/B/E/S. Dendreon is watched closely due to the immense potential of cancer vaccines, but Provenge sales have never really taken off due to limited manufacturing capacity and uncertainty over reimbursements.
Don't forget, hundreds of biopharma companies are hiring! (We know you can't resist.)