Why Dendreon (DNDN) Stock Hit a One-Year Low Today

NEW YORK (TheStreet) -- Dendreon  (DNDN) plunged to a 52-week low of $1.33 on Tuesday after the company warned of "significant risk" it would not be able to pay its debt that matures in 2016, according to the biotech company's latest 10-Q filing.

"Accordingly, we are currently considering alternatives to the repayment of the 2016 Notes in cash, including alternatives that could result in leaving our current stockholders with little or no financial ownership of Dendreon," the company said in the filing.

For more on this story, read TheStreet's Adam Feuerstein's article here.

Must Read: Dendreon Warns Debt Bomb Might Wipe Out Shareholders

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The stock was down 32.08% to $1.44 at 10:01 a.m. More than 7.6 million shares had changed hands, compared to the average volume of 1,969,290.

DNDN Chart DNDN data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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