Dendreon Earnings: Here’s Why the Stock is Rising Now
Dendreon Corp. (NASDAQ:DNDN) had a loss and met 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 up 0.85%.
Dendreon Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.48 in the quarter versus EPS of $-0.70 in the year-earlier quarter.
Revenue: Decreased 17.63% to $67.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dendreon Corp. reported adjusted EPS loss of $0.48 per share. By that measure, the company missed the mean analyst estimate of $-0.48. It missed the average revenue estimate of $80.15 million.
Quoting Management: “We remain focused on improving PROVENGE utilization by executing our direct-to-consumer campaign which began in March, educating potential patients in the mCRPC market and employing our enhanced sales messaging with our customers,” said John H. Johnson, chairman, president and chief executive officer. “Currently, we are seeing an improvement in enrollments, a trend which began mid-way through the first quarter. As we leverage the power of our DTC campaign, we are confident in our ability to grow PROVENGE year over year.”
Key Stats (on next page)…