Dendreon Corporation (NASDAQ: DNDN) has reported its quarterly results and the reaction is a bit cool. This is growth of almost 200%, as net product revenue for the quarter was $82.0 million versus $27.0 million a year ago. The net loss in the first quarter was $103.9 million, or -$0.70 per share, and that is down from a net loss of $112.8 million a year ago. Excluding cash and noncash severance expenses, the report would have been for a net loss of $87.1 million, or -$0.59 per share.
Thomson Reuters has estimates of -$0.63 EPS and $81.23 million in sales. The company called this report as having exceeded its guidance of low single-digit quarter-over-quarter growth.
Dendreon had approximately $559.1 million in cash, cash equivalents and short-term and long-term investments as of March 31, down from $617.7 at the end of the December 31, 2011 period.
Without formal guidance, we cannot consider this report as “finished business” until that data is out.
Dendreon shares closed up 3.2% at $11.69 against a 52-week range of $6.46 to $42.87, and shares are down 7.3% at $10.82 in the after-hours session.
JON C. OGG
Smart Investors Are Quietly Loading Up on These “Dividend Legends”
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats.
There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside.
If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.
