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Originally published December 10, 2009 at 6:17 PM | Page modified December 10, 2009 at 8:46 PM

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Dendreon nets $356 million in stock sale

Dendreon said Thursday it has raised $356 million in net proceeds from selling 15 million shares of stock at $24.75 apiece. The Seattle biotechnology company could tack on another $50 million more if its investment bankers exercise an option for an additional 2.25 million shares.

By Seattle Times business staff

Dendreon said Thursday it has raised $356 million in net proceeds from selling 15 million shares of stock at $24.75 apiece, and could tack on another $50 million if its investment bankers exercise an option for an additional 2.25 million shares.

The Seattle-based biotechnology company, which is awaiting a Food and Drug Administration decision early next year on its prostate cancer therapy, said it will use the money to expand its manufacturing facilities, information technology and other operations.

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