Trubion Pharmaceuticals, Inc. Reports First-Quarter 2010 Financial Results

TRUBION PHARMACEUTICALS, INC.

STATEMENTS OF OPERATIONS

(In thousands, except per share data)

Three months ended March 31,

2010

2009

Revenue

$               5,512

$        4,212

Operating expenses:

 Research and development

9,016

12,079

 General and administrative

2,521

3,110

   Total operating expenses

11,537

15,189

Loss from operations

(6,025)

(10,977)

 Interest income

15

118

 Interest expense

(119)

(140)

Net loss

$              (6,129)

$    (10,999)

Basic and diluted net loss per share

$                (0.30)

$        (0.61)

Shares used in computation of basic and diluted net loss per share

20,387

17,899

March 31,

December 31,

2010

2009

Balance Sheet Data:

Cash and cash equivalents

$             16,597

$     22,304

Investments

29,682

32,542

Total assets

57,102

65,380

Deferred revenue

33,470

35,262

Total stockholders' equity

9,640

15,094