Trubion Pharmaceuticals, Inc. Reports Third Quarter and Nine Months 2009 Financi...(ed the second course of re-treatment dat...),Health

Date:11/5/2009

ed the second course of re-treatment data from a Phase 2b study (15002) of TRU-015 for rheumatoid arthritis (RA) at the American College of Rheumatology (ACR) Annual Meeting in Oct. 2009. Data continue to demonstrate that repeat administration of TRU-015 is well-tolerated and improves the signs and symptoms of RA as measured by the ACR rates. At 24 weeks after the second re-treatment course, subjects in the group that had received 800 mg of TRU-015 of the initial treatment achieved ACR 20, 50 and 70 response rates of 72%, 39% and 21%, respectively. Results were similar to the response rates seen 24 weeks after the first re-treatment of the same cohort as presented at the European League Against Rheumatism (EULAR) Annual Meeting in June 2009 (70%, 40% and 23%, respectively). Trubion has now administered more than 1,300 doses of TRU-015 over a period of four and a half years.

In Sept. 2009, patient enrollment was completed in the second Phase 2b study (2203) of TRU-015 for RA.

2009 Financial Guidance

The company has revised its 2009 guidance after taking into account its collaboration agreement with Facet. As a result, the company has lowered its anticipated annual burn rate from $30 million-$35 million to $0-$5 million. No changes have been made to anticipated revenues for 2009. The revised guidance is as follows:

• Reiterate 2009 revenues of approximately $15 million to $20 million; and
• Revised 2009 operating cash requirements are now expected to be approximately $0 to $5 million.
  

This guidance does not include any additional cash receipts associated with potential new partnerships.

Conference Call Details

Trubion will host a conference call and webcast to discuss its third quarter and nine months ended Sept. 30, 2009, financial results and provide an update on business activities. The call will be held Nov. 5 at 2 p.m. Pacific Time, 5 p.m. Easter
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SOURCE Trubion Pharmaceuticals, Inc. Copyright©2009 PR Newswire. All rights reserved

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