The $125 Million in cost cutting along with cutting unproductive jobs, then realizing where their strengths were could have been the deciding factor in hiring new employees, feeling it was necessary. This could very well be setting up the bowling pins for the new owner so it's a "Turn Key" operation. All they have to do is come in and the entire business is set up to their satisfaction. I have seen a similar setup during the mid 90's with SNET/SBC buyout. Or, perhaps this is being done for their own business model in the event they change their mind and intend to go for profitability themselves, instead of a new owner. The next 30/45 days we will know something, one way or the other.
oh yeah, the jobs were unproductive because provenge sales were too low to justify having the employees. the company will never realize $125M in cost-cutting... that's pure fiction made up by management to make this sound good. also, management said most of the cuts were R&D, which isn't the area you want to cut as some fantasy of "setting up the bowling pins for the new owner." LOL.... just like when Johnson closed the NJ plant, the latest layoffs are merely another admission by management that they have failed to increase provenge sales and the focus is squarely on trimming the quarterly cash burn and trying to remaining in business a few more quarters.
$647M in debt, huge ongoing quarterly losses, increasing competition, and sales team departures still happening... not a single sign from management that the loss of sales to the competition will stop... quite the contrary, when xtandi gets pre-chemo approval the pressure will increase and dendreon has no plan to counter-attack. a few years ago this was supposed to be a $4B annual business and their highest hope is now just to breakeven on $70M in quarterly sales.
i was thinking the same too, when i saw more open positions on their website than there were two months ago. they are trimming fat, we all know that, but they are also adding a few positions so they have expanding sales in mind, mostly europe. a partnership will be more beneficial in the long term, just like medivation has, rather than a gratuitous buyout at firesale prices.