Dendreon Posts Huge Loss In Q4 - Quick Facts

(RTTNews) - Dendreon Corp.'s (DNDN) fourth-quarter 2013 net loss widened significantly to $88.74 million, or $0.58 per share, from a $38.7 million, or $0.26 per share loss, in the prior-year quarter. On average, 19 analysts polled by Thomson Reuters expected loss per share of $0.42 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly net product revenue was $74.8 million, compared with last year's $81.6 million on a pro-forma basis, which excludes a $3.8 million favorable adjustment to the company's chargebacks reserve due to a change in estimate. Analysts estimated revenues of $75.61 million for the quarter.

Commenting on the future, the company said: "We expect our first quarter 2014 revenues to be consistent with our first quarter 2013 results. We continue to be on track on our restructuring and cost reduction plan to accelerate the path to profitability. We are focused on becoming cash flow breakeven as soon as possible."