Following the restructuring, Trubion will continue to invest in the development of its proprietary program, TRU-016, and the efficient and timely advancement of select preclinical assets that it believes will have the greatest opportunity for value creation.
The company will also continue to support the programs developed under its collaboration with Wyeth, including TRU-015, SBI-087 and other undisclosed product candidates.
Based on its current forecast, and excluding any proceeds from potential new partnerships or financings, the reductions announced, in combination with targeted investments in preclinical and clinical programs, are expected to support the company’s operations into the second half of 2010.
Peter Thompson, president, CEO and chairman of Trubion, said: “Concentrating our resources on our clinical stage product candidates, as well as our preclinical programs that we believe have the greatest potential for value creation, while streamlining operations will increase our financial flexibility by reducing ongoing operating expenses and decreasing the need for additional financing in the short term.”