DENDREON CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) Three months ended Twelve months ended December 31, December 31, 2005 2004 2005 2004 Revenue $37 $75 $210 $5,035 Operating expenses: Research and development 20,568 18,243 65,944 64,390 General and administrative 5,684 4,689 20,729 21,037 Total operating expenses 26,252 22,932 86,673 85,427 Loss from operations (26,215) (22,857) (86,463) (80,392) Interest income 1,451 1,152 5,267 4,135 Interest expense (75) (35) (351) (255) Other expense -- -- -- (290) Loss before income taxes (24,839) (21,740) (81,547) (76,802) Foreign income tax benefit -- -- -- 1,562 Net loss $(24,839) $(21,740) $(81,547) $(75,240) Basic and diluted net loss per share $(0.40) $(0.37) $(1.36) $(1.32) Shares used in computation of basic and diluted net loss per share 61,921 58,860 59,912 57,103 DATASOURCE: Dendreon Corporation

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