AMENDMENT NO. 2 TO COMMON STOCK PURCHASE AGREEMENT

This Amendment No. 2   (the “ Second Amendment ”) to that certain Common Stock Purchase Agreement,   dated October 11, 2007 and as amended by Amendment No. 1 thereto dated as of October 8, 2008 (as so amended, the “ Agreement ”), by and between Dendreon Corporation, a  Delaware corporation (the “ Company ”), and Azimuth Opportunity Ltd., an international business company incorporated under the laws of the British Virgin Islands (the “ Investor ”), is entered into as of February 9, 2009 (the “ Second Amendment Date ”). Capitalized terms not otherwise defined herein shall have the meaning set forth in the Agreement.

Whereas , Section 7.1 of the Agreement provides in part that, unless earlier terminated, the Agreement shall terminate automatically on the earliest of (i) the first day of the month next following the 18-month anniversary of the Effective Date (the “ Investment Period ”), (ii) the date that the aggregate dollar amount of Shares registered under the Registration Statement have been issued and sold and (iii) the date the Investor shall have purchased the Total Commitment of shares of Common Stock (subject in all cases to the Trading Market Limit);

Whereas , the Agreement remains in full force and effect;

Whereas , Section 9.3 of the Agreement provides that the Agreement may be amended by a written instrument signed by the Company and the Investor; and

Whereas , the Company and the Inves