Dendreon cancer news

Dendreon disclosed in its 3Q13 earning that it will reduce headcount across the company by 20% to 820 to reduce costs and focus on immuno-oncology. Dendreon expects the moves to reduce operating expenses by over $125 million compared to 2013. Specifically, the biotech expects year-over-year reductions of 20% in cost of goods sold, 14% in R&D expenses and 23% in SG&A expenses. The company said it will continue to invest in manufacturing automation and ongoing clinical development programs. Dendreon's DN24-02, an autologous cellular immunotherapy targeting HER2, is in Phase II testing to treat HER2-positive urothelial carcinoma. At Sept. 30, Dendreon had $166.6 million in cash and a nine-month operating loss of $167.7 million. ...