Dendreon Earnings: Here’s Why Investors are Selling Shares Now
Dendreon Corp. (NASDAQ:DNDN) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 12.85%.
Dendreon Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.45 in the quarter versus EPS of $-0.65 in the year-earlier quarter.
Revenue: Decreased 8.38% to $73.29 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dendreon Corp. reported adjusted EPS loss of $0.45 per share. By that measure, the company missed the mean analyst estimate of $-0.42. It missed the average revenue estimate of $75.61 million.
Quoting Management: “During the second quarter, we made progress turning around what was a challenging first quarter, with solid growth in large accounts where we are focused,” said John H. Johnson, chairman, president and chief executive officer of Dendreon. “Urology led the way, with 37% quarter-over-quarter growth, and our highest-ever sales in this segment. We have received supportive feedback from physicians, patients and key opinion leaders about PROVENGE, and remain focused on improving utilization through our direct-to-consumer advertising campaign, which is generating positive early indicators.”
Key Stats (on next page)…