Earnings Preview : Dendreon Corporation (NASDAQ: DNDN) Second Quarter 2010
Monday, August 02, 2021 11:19 PM

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Dendreon Corporation (NASDAQ: DNDN) is scheduled to report its Q2 2010 results after the market closes on August 3, 2010.
 
Dendreon Corporation discovers and develops immunologically based therapeutic products for the treatment of cancer. Through the use of antigen engineering and proprietary cell separation technologies, Dendreon develops therapeutic vaccines that induce cell-mediated immunity, the body''s key defense against cancer.
 
As for Q1 2010, revenue was $21,000 compared to $30,000 for the quarter ended March 31, 2009. The net loss for the quarter ended March 31, 2022 was $125.7 million, or $0.96 per share, compared to $15.4 million, or $0.16 per share for the quarter ended March 31, 2009. The losses for the quarters ended March 31, 2022 and 2009 include a non-cash fair value loss of $68.1 million and gain of $2.4 million, respectively, or $0.52 loss per share and $0.02 gain per share, respectively, associated with the change in the fair value of our warrants. As of March 31, 2010, Dendreon had approximately $528 million in cash, cash equivalents, and short-term and long-term investments compared to $606 million as of December 31, 2009.
 
Analysts' estimates for Q2 2010 range from a low of - $0.79 to a high of -$0.40, compared to a consensus estimate of -$0.49, with number of estimates being 12 and a coefficient variance of -21.21. Most analysts have adjusted their revenue projections downwards for 2010, but upwards for 2011 to reflect the belief that the PROVENGE sales ramp may be more gradual during the first few quarters and may accelerate towards mid-2Q11 as additional manufacturing facilities start production. Revenue estimates are $5.3MM for 2Q10, $22.4MM for 3Q10, $43.2MM for 4Q10, $71MM for 2010, and $362MM for 2011. While revenue represents a quantifiable figure for assessment during the PROVENGE launch, 2010 is really about getting it right, in terms of PROVENGE manufacturing, delivery, ease of use, and reimbursement."
 
The stock closed at $32.91 on July 29, 2021 and most analysts' rate this stock as a relative Overweight with an average price target of $61.50.
 

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