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Tengion Provides Business Update and Reports Third Quarter 2010 Financial Results
Date:11/1/2010

rams.  Under the award guidelines, qualified therapeutic discovery projects had to show a reasonable potential to result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions, reduce the long-term growth of health care costs in the United States, or significantly advance the goal of curing cancer within 30 years.  Based upon the Company's currently expected level of operating expenditures, the Company expects to be able to fund its operations into April 2011.

Conference Call and WebcastSteven Nichtberger, M.D., President and CEO, and Brian Davis, Chief Financial Officer and Vice President of Finance, will host a conference call today, November 1, 2010 at 5:00 p.m. ET to provide a business update and discuss the Company's third quarter 2010 financial results.

The call can be accessed by dialing 888-713-4213 (domestic) or 617-213-4865 (international) five minutes prior to the start time and providing the access code 30673244.  The presentation will also be available by live webcast and can be accessed by visiting the Investors section of the Company's website at http://www.tengion.com.

A replay of the call will be available on the Tengion website approximately two hours after completion of the call and will be archived for two weeks.

About TengionTengion, a clinical-stage biotechnology company, has pioneered the Organ Regeneration Platform™ that enables the Company to create proprietary product candidates that are intended to harness the intrinsic regenerative pathways of the body to produce a range of native-like organs and tissues. Tengion's product candidates seek to eliminate the need to utilize other tissues of the body for a purpose to which they are poorly suited, procure donor organs or administer anti-rejection medications.  An initial clinical trial is ongoing for the Company's lead product ca
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