Dendreon CEO Mitchell Gold and other executives sold big stakes in the company a day after reporting positive results of their immune-stimulating drug for prostate cancer, according to this Dow Jones report. Gold sold 600,000 shares of the company at $24.92 apiece on April 29, generating gross proceeds of $15 million, according to this filing with the Securities and Exchange Commission. That represents about 41 percent of Gold’s stake in the company as of April 15. Chairman Richard Brewer; Greg Schiffman, the chief financial officer; Mark Frohlich, the chief medical officer; and others also sold stakes in Dendreon (NASDAQ: [[ticker:DNDN]]), according to the SEC.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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