were $10.4 million and $32.3 million respectively, compared
with $11.5 million and $35.9 million respectively in 2007. The decrease in
operating expenses in the third quarter and first nine months of 2008 were
primarily due to decreased costs related to our Phase 2b clinical trial for
TRU-015, lower outside manufacturing costs for TRU-016, lower lab supply
costs and lower contract licensing fees. The decrease in operating expenses
was partially offset by an increase in personnel-related expenses.
Net loss for the third quarter and nine months ended Sept. 30, 2008,
was $6.6 million, or $0.37 per diluted common share, and $19.2 million, or
$1.07 per diluted common share, respectively, compared with a net loss of
$5.9 million, or $0.33 per diluted common share, and $18.4 million, or
$1.04 per diluted common share, respectively, in 2007.
Trubion had $61.6 million in cash, cash equivalents and investments as
of Sept. 30, 2008, compared with $65.4 million as of June 30, 2008.
"In the third quarter, we continued to advance TRU-015, our lead
product candidate. We're encouraged by the positive data we've seen to-date
in the ongoing Phase 2a and Phase 2b re-treatment studies and look forward
to reporting information as new milestones are reached," said Peter
Thompson, M.D., FACP, Trubion's president, CEO, and chairman. "In addition
to TRU-015, we are also pleased with the clinical progress of SBI-087 for
RA, as well as our proprietary asset, TRU-016 for CLL, and we look forward
to reporting the results of these studies."
In October, Trubion announced positive data for TRU-015 for RA from two
re-treatment studies demonstrated that repeat administration with TRU-015
continued to produce persistent responses and significant improvements in
RA signs and symptoms based on American College of Rheumatology criteria.
-- In September, Trubion announced that the Opposition Division of the
European Patent Office (EPO) revoked E
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|SOURCE Trubion Pharmaceuticals Inc.|
Copyright©2008 PR Newswire.
All rights reserved
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