Trubion gains $52M in lackluster IPO

Trubion Pharmaceuticals went public on Tuesday, raising about $52 million as it sold shares at the bottom of its price range. Trubion had outlined plans to raise up to $86 million. Still, just completing the IPO was a success for the biotech. Light Sciences Oncology delayed its IPO plans, citing a weak market. Trubion, which was a 2006 Fierce 15 Winner, attracted considerable attention earlier this year when it signed a development deal with Wyeth worth up to $800 million.

- here's the Seattle Post-Intelligencer report on the IPO