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Mar262012

Tengion ($TNGN) reports Q4 EPS ($0.26)

DDE Editor

Tengion (NASDAQ: TNGN) Reports a Q$ loss of $0.26 with $15.6 mln in cash at year end, enough to fund through Sept. 2012.

Updates on two programs:

Neo-Urinary Conduit: Tengion enrolled a fourth patient in its ongoing initial clinical trial of its lead product candidate, the Neo-Urinary Conduit, which is being evaluated in bladder cancer patients requiring a urinary diversion following bladder removal (cystectomy).The company plans to discuss with the Data Safety Monitoring board a reduction in the timelines between future patient implants. If granted and assuming appropriate safety data, the company anticipates that it will complete implantation of up to 10 patients by the end of 2012.
Neo-Kidney Augment: The company submitted a pre-IND filing to the FDA for its lead preclinical program, the Neo-Kidney Augment, which is intended to prevent or delay the need for dialysis or kidney transplant in patients with advanced chronic kidney disease (CKD).

Following the submission, Tengion's board has authorized the company to aggressively pursue the development of its Neo-Kidney Augment program. Tengion has scheduled a meeting with the FDA to discuss the company's proposed GLP animal study program to support an IND filing.

The company expects to provide an update on its expectations for the clinical trial program in its Q1 2012 financial results announcement in May.

See the full press release: Tengion Reports Fourth Quarter and Full Year 2011 Financial Results

View the full TNGN chart at Wikinvest

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