Dendreon third-quarter revenue up slightly at $84,000

By Lisa Kerner

Charlotte, N.C., Nov. 8 - Dendreon Corp.'s third-quarter revenue rose slightly to $84,000 from $58,000 for the quarter ended Sept. 30, 2005.

The Seattle biotechnology company's total operating expenses for the quarter were also up slightly at $21.7 million from $21.0 million in the prior-year period.

For the third-quarter 2006, Dendreon reported a net loss of $20.7 million, or $0.29 per share, compared with a net loss of $19.7 million, or $0.33 per share, for the third-quarter 2005.

Dendreon reported revenue for the nine months ended Sept. 30 of $187,000, an increase from $173,000 reported for the first nine months of 2005.

Total operating expenses for the nine-month period rose to $73.6 million from $60.4 million for the same period in 2005.

The net loss for the nine months ended Sept. 30 was $70.2 million, or $0.98 per share, compared with $56.7 million, or $0.96 per share, for the prior-year period.

Dendreon had cash, cash equivalents and short-term and long-term investments at Sept. 30 totaling $92.6 million.

"The submission of the first portion of our Biologics License Application (BLA) for Provenge is a significant accomplishment for the company," president and chief executive officer Mitchell H. Gold said in a news release.

"The additional data analyses from our phase 3 trials presented at various scientific meetings this quarter further support the clinical activity of Provenge and enhance our BLA submission."

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