This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Dendreon, Ulta Beauty: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Dendreon (DNDN) rose in late trades on Thursday after the drug developer said it's laying off 500 workers as part of a restructuring.

The Seattle-based company also said gross revenue for its Provenge prostate cancer drug totaled $22 million in August, and that Hans Bishop had exited the chief operating officer post. It expects the layoffs to result in a cost of roughly $21 million, including a non-cash charge of $5 million related to stock-based compensation expenses.

The stock was last quoted at $11.15, up 2.5%, on volume of more than 400,000, according to Nasdaq.com.

"While the last month has been difficult for our employees, these cost reductions are necessary to ensure the long-term growth of our company, and I am grateful to our dedicated and passionate employees who are the driving force behind Dendreon," said Mitchell Gold, Dendreon's president and chief executive officer, in a statement.

The shares closed Thursday's regular session at $10.88, a decline of nearly 7% on the day. Year-to-date, the stock has lost almost 70%. The company has reported wider than expected losses for the past eight quarters, and profitability is still a long ways away.

"Given the current cash balance and the reduced levels of spending following the restructuring, Dendreon expects to have sufficient cash to enable the company to achieve a cash flow break even position in the United States at an annual run rate of approximately $500 million in revenue," the company said on Thursday.

So far in 2011, the company has reported revenue totaling roughly $107 million through its fiscal second quarter ended in June. The average estimate of analysts polled by Thomson Reuters is for revenue of $218.7 million for the full year.

Ulta Beauty

Another mover to the upside in the extended session was Ulta Beauty (ULTA), which gained 1% to $60.50 on volume of nearly 300,000 after posting better than expected quarterly results.

The Bolingbrook, Ill.-based cosmetics retailer said it earned $23.9 million, or 38 cents a share, in its fiscal second quarter ended in July as total sales jumped 22.6% year-over-year to $394.6 million and same-store sales improved 11.3%.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,042.90 -28.32 -0.17%
S&P 500 1,972.29 -5.51 -0.28%
NASDAQ 4,493.39 -12.4620 -0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs