SEATTLE, Dec. 7 /PRNewswire-FirstCall/ -- Dendreon Corporation today announced its previously announced public offering of 10,000,000 shares of its common stock has been priced at $4.50 per share. The Company expects to complete the sale of these shares on December 12, 2005, subject to customary closing conditions. The Company will receive all of the net proceeds from this offering. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock on the same terms.
Banc of America Securities LLC is the book-running manager for the offering. JMP Securities LLC and Lazard Capital Markets LLC are co-managers.
When available, copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained from Banc of America Securities LLC (by email at dg.prospectus_distribution@bofasecurities.com) or from Dendreon Corporation (Attn: Investor Relations, 3005 First Avenue, Seattle, WA 98121).
The offering is being made pursuant to an effective shelf registration statement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering will be made only by means of the final prospectus supplement and accompanying prospectus.
About Dendreon
Dendreon Corporation is a biotechnology company whose mission is to target cancer and transform lives through the development of innovative cancer treatments. In addition to its immunotherapies in clinical and preclinical development for a variety of cancers, Dendreon’s product pipeline also includes monoclonal antibody and small molecule product candidates. Dendreon also has collaboration agreements relating to the development of potential product candidates with Genentech, Inc., Abgenix, Inc. and Dyax Corp.
Forward Looking Statements
This news release contains forward-looking statements regarding expectations as to the potential consummation of a public offering. A number of risks and uncertainties could cause actual events to differ from Dendreon’s expectations indicated by these forward-looking statements. These risks are addressed in Dendreon’s periodic reports filed with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for the fiscal year ended December 31, 2004, as amended, and its Quarterly Reports on Form 10-Q filed during the fiscal year ending December 31, 2005.
Dendreon Corporation
CONTACT: Monique Greer, Sr. Director, Corporate Communications of DendreonCorporation, +1-206-829-1500
Web site: http://www.dendreon.com//
