The 12-month increase was primarily due to increased clinical costs related to the company's Phase IIb clinical trial for TRU-015, increased personnel-related expenses due to increased headcount, and increased outside manufacturing costs related to Trubion's TRU-016 product candidate. These increases were partially offset by lower outside manufacturing costs for TRU-015 due to the successful transfer of manufacturing activities to Wyeth during 2007 and lower non-cash stock-based compensation charges.
Net loss for the fourth quarter of 2007 was $4.9 million, or $0.28 per diluted common share, compared with a net loss of $4.8 million, or $0.33 per diluted common share, for the fourth quarter of 2006. For the year ended Dec. 31, 2007, net loss was $23.3 million, or $1.32 per diluted common share, compared with a net loss of $3.9 million, or $0.83 per diluted common share, for the year ended Dec. 31, 2006.
Trubion had $78.5 million in cash, cash equivalents and investments as of Dec. 31, 2007, compared with $105.8 million as of Dec. 31, 2006.
"In 2007 we continued our mission to develop a family of first-in-class
and best-in-class product candidates, customized for optimal safety,
efficacy and convenience, that could offer improved patient experiences,"
said Peter Thompson, M.D., FACP, president, chief executive officer and
chairman of Trubion. "We and our partner continued to advance the clinical
development of our lead product candidate, TRU-015, for the treatment of
rheumatoid arthritis, began clinical evaluation of TRU-015 in non-Hodgkin's
lymphoma (NHL) and expect to do the same in systemic lupus erythematosus
(SLE) later this year. In 2008, we expect our research and clinical
|SOURCE Trubion Pharmaceuticals Inc.|
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