Biotechnology company Dendreon Corp. filed for chapter 11 protection on Monday and said that it has reached agreements on the terms of a financial restructuring with certain bondholders, Reuters reported today. Dendreon said that the restructuring might take the form of a standalone recapitalization or a sale of the company or its assets. Under the agreements, the senior noteholders will support a reorganization plan to convert all 2016 notes to common equity of the reorganized Dendreon. The company can also conduct a court-supervised sale process for all or substantially all of its assets to a party that would continue producing and providing its prostate cancer vaccine Provenge. The case is In re Dendreon Corp., U.S. Bankruptcy Court, District of Delaware, No. 14-12515.
