Dendreon Q3 Loss Narrows - Quick Facts

(RTTNews) - Dendreon Corp. (DNDN) Tuesday reported a narrower loss for the third-quarter, reflecting lower expenses, with a significant reduction in restructuring, contract termination and asset impairment charges.

For the three-month period, the company reported net loss of $67.2 million or $0.44 per share, compared with loss of $154.9 million or $1.04 per share last year. Excluding items, loss was $43.9 million or $0.29 per share.

On average, eighteen analysts polled by Thomson Reuters expected the company to report loss per share of $0.42 for the quarter. Analysts' estimates typically exclude one-time items.

Meanwhile total revenues decreased to $68 million, from prior year's $77.9 million. Analysts expected the company to generate revenues of $76.74 million for the quarter. Total operating expenses were $121.9 million, compared with $219.4 million a year ago. Restructuring, contract termination and asset impairment were $1.1 million, compared with $80.9 million last year.

Further, Dendreon said it will implement its Restructuring and Cost Reduction Plan immediately and expects that the net benefits will begin to be realized as early as the first quarter of 2014.