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[DewDiligence]

DNDN Cuts 15% of Workforce—Newspaper

http://seattlepi.nwsource.com/business/316158_dendreon17ww.html

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May 17, 2007
By DAN RICHMAN

Seattle-based Dendreon Corp. on Thursday cut 15 percent of its 250-person workforce, idling about 40 staffers, most of whom were preparing to market the now-delayed anti-prostate cancer drug Provenge, said spokeswoman Monique Greer.

"Due to recent news from the Food and Drug Administration, we won't be commercializing Provenge immediately, as we had thought," Greer said. "All the employees, and the company, are very saddened by this decision, and very surprised. But the company has to do what it must to survive."

She said the FDA last week unexpectedly declined to approve Provenge, Dendreon's only product, without more data supporting the drug's effectiveness. Now, it will be released in 2009 at the earliest [i.e. if the 9902b interim look hits its survival endpoint], she said.

"We hope these employees can stay in the area. Potentially, they could get rehired," though the layoffs are permanent, not temporary, she said.

No further layoffs are planned, Greer said.
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