Trubion releases Phase II data; Investors bail

Shares of Trubion got whacked yesterday after investors and analysts got to take a second look at the data from its mid-stage study of its lead therapy for rheumatoid arthritis--TRU-015--and the news that another mid-stage trial would be needed before researchers pushed the program into a late-stage trial. Researchers said that a single dose of the therapy performed better than a placebo in a Phase II study, but the news of another trial gives the company little new to boast about over the next year. Researchers said that about a quarter of patients taking the drug saw their symptoms reduced 50 percent--about the same as Rituxan. Investors bailed, though, shaving more than 30 percent off the company's stock price. Trubion was a 2006 Fierce 15 company.

- see Trubion's release on the data
- check out the AP report for more info

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