Dendreon (NASDAQ: [[ticker:DNDN]]), the Seattle based company developing a treatment to stimulate the immune system against prostate cancer, said today it has tacked on an additional $55.7 million through its stock offering, bringing the grand total of this financing to $409 million after expenses. The company sold 15 million shares earlier in the week, and raised the extra money when its underwriters exercised their options to buy 2.25 million shares at $24.75 apiece. Dendreon has now raised a total of $630 million this year to support the manufacturing and marketing of sipuleucel-T (Provenge), as it seeks FDA approval to market the first-of-its-kind immune booster in the U.S.
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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