Dendreon shares fall as company warns of worry over debt repayment
Shares of US biotech firm Dendreon (Nasdaq: DNDN) have fallen after it warned shareholders about debt problems. Its shares dropped 33% to $1.42 on Tuesday.
In a Securities and Exchange Commission filing, the company said there is a "significant risk" it will not be able to repay or refinance $620 million in notes due in 2016. It is reportedly considering alternatives to repaying the notes in cash, including some options which will affect shareholders.
Its shares dropped 33% to $1.42 on Tuesday.
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