UPDATE 1-Dendreon Q3 loss widens

* Q3 loss widens

* Revenue down 77 pct

Nov 7 (Reuters) - Biotechnology company Dendreon Corp (DNDN.O) posted a wider third-quarter loss, hurt by a drop in sales.

The company posted a net loss of $26.8 million, compared with a net loss of $19.2 million, in the year-ago quarter. Third-quarter revenue fell to $26,000.

Dendreon said latest-quarter results include a non-cash charge of $9.1 million.

However, total operating expenses for the quarter fell 13 percent to $17.3 million.

The company also said it received net proceeds of $19.8 million relating to a draw down on its equity line of credit with Azimuth Opportunity Ltd.

Shares of the company closed at $5.08 Thursday, on Nasdaq. For the alerts, please double click [ID:nWNAB0119]. For the company press release, please double click [ID:nPnAQF512a] (Reporting by Vidya L Nathan in Bangalore; Editing by Amitha Rajan)