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Dendreon Corporation
3005 First Avenue, Seattle, WA 98121 * (206) 256-4545
Business Description The company discovers and develops immunologically based therapeutic products for the treatment of cancer.
Offering
Information

Company has
gone public

Trading As  DNDN (NASNTL) Industry  Pharmaceutical (SIC 2834)
Type of Stock Offered  Common Shares Filing Date  3/8/00
Domestic Shares Offered  4,500,000 Offer Date  6/15/00
Foreign Shares Offered  0 Filing Range  $12.00 - $14.00
Company Shares  4,500,000 Offer Price  $10.00
Selling Shrhldrs Shares  0 Gross Spread  $0.700
Gross Proceeds  $45,000,000 Selling  $0.400
Expenses  - - Reallowance  $0.100
Post-IPO Shares  20,760,000 Employees  - -
Primary
Underwriting
Group
Underwriter NameParticipationUnderwriter Phone
Prudential Vector Healthcare Lead Manager (800) 546-1231
Pacific Growth Equities Co-manager (415) 274-6800
SG Cowen Co-manager (212) 495-6000
Income
Statement
and
Cash Flow
Summary
  Prior
Audited
Income
Latest
Unaudited
Income
  Full Year Audited Figures - - Months Ending
Figures in U.S. millions except per share data     12/31/97 12/31/98 12/31/99    
Revenues   - - 0.793 1.849 3.519 - -
Income from Oper.   - - -7.391 -9.067 -12.774 - -
Net Income   - - -7.163 -9.349 -12.679 - -
E.P.S   - - -23.510 -16.340 -15.080 - -
Revenue Growth (%)      - - 133.17 90.319   -
Net Income Growth (%)      - - - -   -
Oper. Profit Margin (%)    - - - - - - -
Net Profit Margin (%)    - - - - - - -
Cash Flow - Oper.     -12.10 - -
Cash Flow - Inv.     -4.53 - -
Cash Flow - Fin.     16.84 - -
Balance Sheet
Summary
and
Financial
Ratios
Balance sheet as of: 12/31/99 Financial Ratios
Total Assets    17.38 Current Assets    15.20 Current Ratio    2.89
Total Liab.    11.02 Current Liab.    5.26 Debt Ratio    63.44%
Total Equity    6.35 Working Cap.    9.94 Debt to Equity Ratio    1.74
Cash    7.09    Return on Assets   -
Use Of
Proceeds
The proceeds from the proposed offering will be used to fund clinical trials, research, preclinical and commercialization activities for our therapeutic vaccine products, to increase our dentritic cell processing and antigen manufacturing capability and for general corporate purposes including working capital.
Legal Counsel
Registrar
Auditor
Issuer's Law Firm  Cooley Godward Castro Huddleson & Tatum
Bank's Law Firm  Skadden, Arps, Slate, Meagher & Flom
Registrar/Transfer Agent  ChaseMellon Shareholder Services, L.L.C.
Auditor  Ernst & Young
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Principal
Shareholders
Name of Shareholder% Owned
Before
% Owned
After
Entities affiliated with Healthcare Ventures LLC 24.00  
Vulcan Ventures Incorporated 21.80  
Entities affiliated with Sanderling Ventures 7.70  
Kummell Investments Limited 7.00  
Europort, Gibralter (via London) New York Life Insurance Co. 5.50  
Note: represents ownership of 5% or more prior to the offering.

Last updated: 6/25/00 10:48:41 PM
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