Nelly Shishkova

Trubion Pharmaceuticals, Inc. (NASDAQ:TRBN) Starts The Gain

by Nelly Shishkova August 16, 2010
Last Friday, Trubion Pharmaceuticals, Inc. (NASDAQ:TRBN) looked like it is starting a gaining period. The stock soared 50% on its price to close at image168.png$4.50 per share. Along with the price, its traded volume rose up immediately to exceed 1 million shares for the day. That's a huge gain for TRBN as compared to its average volume of 57 thousand shares.

Following the records, the high trade has started when Law Offices of Howard G. Smith reported an investigation against the board of directors of Trubion. According to the announcement, the investigation is on behalf of the company's shareholders, entitled to obtain cash payments and shares of Emergent BioSolutions common stock.

As soon as the announcement was made, the traders' interest was provoked and TRBN stock started to climb up.

Trubion Pharmaceuticals is a biopharmaceutical company creating a pipeline of protein therapeutic product candidates to treat autoimmune and inflammatory diseases and cancer. Historical records show, that last year the company used to trade about 50% higher, though since then the price has moved down. Currently, it's up again, but it's too soon for a bullish trend to be registered.

Trubion_logo.jpgThe financial results of Trubion are not much promising. As a result of the Facet collaboration, TRBN's revenue and gross profit have increased, though the company has suffered big net losses and it expects them to continue. At the end of March, the accumulated deficit of Trubion was $127.8 million and the total stockholders' equity totaled $9.6 million.

The company has a collaboration agreement with Pfizer, however, the future earnings are dependent on TRBN's research expenses and clinical trials.

The latest news on Trubion was reported yesterday, stating that its purchase deal with Emergent Biosolutions was worth up to $135.5m. The future projections look optimistic, though the investors should first check the new financial results of TRBN that are coming up today.

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