SEATTLE (AP) — Dendreon Corp. said Tuesday that Chairman Mitchell Gold is stepping down as part of a previously-disclosed succession plan. President and CEO John Johnson will take on the additional role of chairman, the biotechnology company said.
Gold will remain as a board member.
In May, Dendreon reported a first-quarter loss, but its adjusted results beat analysts’ expectations. Its revenue, which consisted almost entirely of sales of the prostate cancer treatment Provenge, jumped to $82 million from $27 million.
Shares of Dendreon, based in Seattle, were unchanged at $7.45 in midday trading. That is up from its 52-week low of $5.69 in early June. But they are down 88 percent from their high of $42 almost a year ago.
