Dendreon (DNDN) Bringing In Major Cash

May 8, 2009 · Filed Under dendreon 

Dendreon Corporation (NASDAQ: DNDN) has a secondary offering of 10.7 million shares in a public secondary offering of common stock on the heels of recent exponential stock gains and on the heels of significant insider selling.  Deutsche Bank acted as the sole underwriter and has an overallotment option to purchase up to 1,279,166 shares of stock.  The good news is that capital will go directly into the company will go exactly for what shareholders would want to see it used for.    Dendreon traded north of $27.00 after the peak of the news.  Shares closed down at $19.76 yesterday, and shares are trading at $19.25 right before the open.

Jon C. Ogg
May 8, 2009

Tags:

Comments

Comments are closed.

    Subscribe to BioHealth Investor BioHealth Investor RSS Feed