Third Quarter and Nine Months 2009 Financial Results

Revenue for the third quarter and nine months ended Sept. 30, 2009, was $4.5 million and $12.8 million, respectively, compared with $3.8 million and $12.2 million, respectively, in 2008. Revenues were primarily earned through Trubion's strategic collaborations with Pfizer Inc. and Facet Biotech Corporation (announced Aug. 28, 2009).

Of the $12.8 million in revenue Trubion recognized during the first nine months of 2009, $8.5 million was collaborative research funding from the Pfizer collaboration and $3.6 million for recognition of the $40 million upfront fee received from Wyeth prior to its acquisition by Pfizer. Revenue earned in the nine months ended Sept. 30, 2009, also included $643,000 that was earned through the Facet collaboration. This is composed of $191,000 for recognition of the $20 million upfront fee and $1.4 million equity premium, and $452,000 in collaborative research funding.

This is compared with revenue of $12.2 million recognized in the first nine months of 2008, which was composed of $8.1 million for collaboration research funding from the Pfizer collaboration and $4.1 million for recognition of the $40 million upfront fee paid by Wyeth prior to its acquisition by Pfizer.

Total operating expenses for the third quarter and first nine months of 2009 were $10.6 million and $36.5 million, respectively, compared with $10.4 million and $32.3 million in 2008.

Net loss for the third quarter and nine months ended Sept. 30, 2009, was $6.2 million, or $0.33 per diluted common share, and $23.9 million, or $1.31 per diluted common share, respectively. This is compared with a net loss of $6.6 million, or $0.37 per diluted common share, and $19.2 million, or $1.07 per diluted common share, in 2008.

Trubion had $61.7 million in cash, cash equivalents and investments as of Sept. 30, 2009, compared with $52.9 million as of Dec. 31, 2008.

"Over the past nine months, we have continued to advance our clinical programs, including TRU-015 for rheumatoid arthritis, TRU-016 for chronic lymphocytic leukemia and SBI-087 for rheumatoid arthritis and systemic lupus erythematosus," said Peter Thompson, M.D., FACP, president, chief executive officer and chairman of Trubion. "The data we've collected from each study to-date suggests that these product candidates may provide differentiated, best-in-class treatments for patients with autoimmune and inflammatory diseases, or cancer. In addition, our Facet agreement has significantly extended our runway, and we continue to meter our expenses to reduce our previously anticipated cash burn rate."

Recent milestones

    --  On Aug. 27, 2009, Trubion entered into an agreement with Facet for the
        worldwide development and commercialization of TRU-016, a CD37-directed
        product candidate in phase 1 clinical development for the treatment of
        chronic lymphocytic leukemia (CLL). Trubion received an upfront payment
        of $20 million and may receive up to $176.5 million in additional
        contingent payments upon the achievement of certain development,
        regulatory and sales milestones. In addition, Facet purchased 2,243,649
        shares of Trubion common stock for an aggregate purchase of $10 million,
        or $4.46 per share.
    --  Trubion presented the second course of re-treatment data from a Phase 2b
        study (15002) of TRU-015 for rheumatoid arthritis (RA) at the American
        College of Rheumatology (ACR) Annual Meeting in Oct. 2009. Data continue
        to demonstrate that repeat administration of TRU-015 is well-tolerated
        and improves the signs and symptoms of RA as measured by the ACR rates.
        At 24 weeks after the second re-treatment course, subjects in the group
        that had received 800 mg of TRU-015 of the initial treatment achieved
        ACR 20, 50 and 70 response rates of 72%, 39% and 21%, respectively.
        Results were similar to the response rates seen 24 weeks after the first
        re-treatment of the same cohort as presented at the European League
        Against Rheumatism (EULAR) Annual Meeting in June 2009 (70%, 40% and
        23%, respectively). Trubion has now administered more than 1,300 doses
        of TRU-015 over a period of four and a half years.

    --  In Sept. 2009, patient enrollment was completed in the second Phase 2b
        study (2203) of TRU-015 for RA.

2009 Financial Guidance

The company has revised its 2009 guidance after taking into account its collaboration agreement with Facet. As a result, the company has lowered its anticipated annual burn rate from $30 million-$35 million to $0-$5 million. No changes have been made to anticipated revenues for 2009. The revised guidance is as follows:

    --  Reiterate 2009 revenues of approximately $15 million to $20 million; and

    --  Revised 2009 operating cash requirements are now expected to be
        approximately $0 to $5 million.

This guidance does not include any additional cash receipts associated with potential new partnerships.

Conference Call Details

Trubion will host a conference call and webcast to discuss its third quarter and nine months ended Sept. 30, 2009, financial results and provide an update on business activities. The call will be held Nov. 5 at 2 p.m. Pacific Time, 5 p.m. Eastern Time. The live event will be available from Trubion's website at http://investors.trubion.com, or by calling (703) 639-1156 or (866) 238-0637. A replay of the discussion will be available beginning at 8 p.m. Eastern Time from Trubion's website or by calling (703) 925-2533 or (888) 266-2081 and entering 1408250. The telephone replay will be available until midnight, Nov. 11, 2009.

About Trubion

Trubion is a biopharmaceutical company that is creating a pipeline of novel protein therapeutic product candidates to treat autoimmune and inflammatory diseases and cancer. The Company's mission is to develop a variety of first-in-class and best-in-class product candidates, customized for optimal safety, efficacy and convenience that it believes may offer improved patient experiences. Trubion's current product candidates are novel single-chain protein, or SMIP, therapeutics, and are designed using its custom drug assembly technology. Trubion's product pipeline includes CD20-directed SMIP therapeutics such as TRU-015 and SBI-087 for autoimmune and inflammatory diseases, developed under the Company's Pfizer collaboration. Trubion's product pipeline also includes TRU-016, a novel CD37-targeted therapy for the treatment of B-cell malignancies developed under the company's Facet collaboration. In addition to Trubion's current clinical stage product pipeline, the Company is also developing its multi-specific SCORPION technology, both for targeting cell-surface molecules like CD79b and HLA-DR, as well simultaneously neutralizing soluble ligands like TNF and IL-6. More information is available in the investors section of Trubion's website: http://investors.trubion.com/index.cfm.

Forward-Looking Statements

Certain statements in this release may constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. These statements include, but are not limited to, those related to the potential development and commercialization of TRU-015. These statements are based on current expectations and assumptions regarding future events and business performance and involve certain risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, risks associated with the Company's collaborations, including the risk that the Company and Pfizer with regard to TRU-015 and SBI-087, and the Company and Facet with regard to TRU-016, are unable to advance their respective clinical development programs and regulatory applications and action at the expected rate, the risk that the Company is unable to develop or commercialize its clinical-stage products, the risk that the Company does not achieve the financial results that it expects during 2010 and such other risks as are identified in the Company's quarterly report on Form 10-Q for the period ended Sept. 30, 2009, and from time to time in other reports filed by Trubion with the U.S. Securities and Exchange Commission. These reports are available on the Investors page of the company's corporate website at http://www.trubion.com. Trubion undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

    Contact:
    Jim DeNike
    Senior Director, Corporate Communications
    Trubion Pharmaceuticals, Inc.
    (206) 838-0500
    jdenike@trubion.com
    http://www.trubion.com


    Waggener Edstrom Worldwide Healthcare
    Amy Petty
    Senior Account Executive
    (617) 576-5788
    amyp@waggeneredstrom.com

TRBN-G

    (Tables Follow)



                                TRUBION PHARMACEUTICALS. INC.
                                   STATEMENTS OF OPERATIONS
                             (In thousands, except per share data)
                                       (unaudited)

                            Three months ended      Nine months ended
                               September 30,           September 30,
                             -----------------       -----------------
                              2009      2008         2009         2008
                              ----      ----         ----         ----

    Revenue                  $4,452   $3,766       $12,783      $12,197

    Operating expenses:
      Research and
       development            7,410    7,397        27,587       23,302
      General and
       administrative         3,146    2,987         8,877        8,985
                              -----    -----         -----        -----
        Total operating
         expenses            10,556   10,384        36,464       32,287
                             ------   ------        ------       ------
    Loss from
     operations              (6,104)  (6,618)      (23,681)     (20,090)
      Interest income             8      370           162        1,585
      Interest expense         (131)    (334)         (409)        (677)
                               ----     ----          ----         ----
    Net loss                $(6,227) $(6,582)     $(23,928)    $(19,182)
                            =======  =======      ========     ========

    Basic and diluted
     net loss per share      $(0.33)  $(0.37)       $(1.31)      $(1.07)
                             ======   ======        ======       ======

      Shares used in
       computation of basic
       and diluted net loss
       per share             18,868   17,859        18,267       17,847
                             ======   ======        ======       ======



                                                 September 30  December 31,
                                                      2009         2008
                                                      ----         ----
    Balance Sheet Data:
    Cash and cash
     equivalents                                   $31,811      $29,969
    Investments                                     29,920       22,928
    Total assets                                    72,676       67,290
    Deferred revenue                                37,054       19,493
    Total stockholders'
     equity                                         19,017       31,468

SOURCE Trubion Pharmaceuticals, Inc.

http://www.trubion.com

In a press release on November 03, NewAlliance Bank Announces the Formation of a New Asset-Based Lending Business

Commercial Finance Veterans Moser and O'Rourke to Lead New Division

NEW HAVEN, Conn., Nov 03, 2009 NewAlliance Bank, a subsidiary of NewAlliance Bancshares, Inc. (NYSE: NAL), announced today the formation of a new asset-based lending business, and the appointment of Andrew H. Moser and Daniel F. O'Rourke to lead the new division. Mr. Moser will report directly to NewAlliance Chairman and CEO Peyton R. Patterson, and Mr. O'Rourke will report to the bank's Executive Vice President and Chief Credit Officer, Donald T. Chaffee.

The new line of business, called NewAlliance Commercial Finance, expands the bank's business lending offerings to include revolving lines of credit and term loans secured by accounts receivable, inventory, and other assets. NewAlliance Bank is well capitalized and poised to expand its lending capabilities to business customers seeking relevant, flexible capital solutions beyond traditional commercial lending.

About NewAlliance Bank

NewAlliance Bank is a New Haven, Connecticut headquartered regional banking and financial services company. It is the third largest bank in Connecticut and fourth largest headquartered in New England. In addition to offering a full range of personal and commercial banking products and services, NewAlliance Bank also provides trust services and investment and insurance products and services. On September 30, 2009 the Company had $8.5 billion in assets and $4.9 billion in deposits. The Bank's website is www.newalliancebank.com.

About NewAlliance Bancshares, Inc.

NewAlliance Bancshares, Inc. (NewAlliance) is the bank holding company of its wholly owned subsidiary, NewAlliance Bank (the Bank). NewAlliance Bank provides commercial banking, retail banking, consumer financing, trust and investment services through 89 banking offices and 105 automated teller machines (ATMs). NewAlliance delivers financial services to individuals, families and businesses throughout Connecticut and Western Massachusetts. The Company's offices are located throughout New Haven, Middlesex, Hartford, Tolland, Windham and Fairfield Counties in Connecticut and Hampden and Worcester Counties in Massachusetts.

-- November 03, 2009 Windstream Corporation (NYSE: WIN) trading at $9.72 on a volume of 1.19M shares

In a press release on November 03, Windstream to Acquire NuVox

Advances strategy to grow broadband and business revenues, which will represent more than half of total revenue after the transaction closes

LITTLE ROCK, Ark., Nov 03, 2009 Drives free cash flow accretion in first full year through $30 million in annual expense and capital savings and lowers dividend payout ratio --Adds approximately 90,000 business customers in complementary markets in 16 states across the Southeast and Midwest Windstream Corporation (NYSE: WIN) announced today that it has entered into a definitive agreement to acquire NuVox, Inc., a privately held competitive local exchange carrier based in Greenville, S.C., in a transaction valued at approximately $643 million.

Windstream expects to issue approximately 18.7 million fixed shares of stock valued at $183 million, based on Windstream's closing stock price on Nov. 2, 2009, and pay approximately $280 million in cash as part of the transaction. Windstream also will assume estimated net debt of approximately $180 million. Windstream intends to finance the acquisition with existing cash and current capacity on its revolving credit agreement.

About Windstream Corporation

Windstream Corporation (Windstream) is a provider of telecommunications services in rural communities in the United States. The Company owns subsidiaries that provide local telephone, high-speed Internet, long distance, network access, and video services in 16 states. As of December 31, 2008, Windstream served more than three million communications customers in 16 states. Additionally, Windstream provides data services to more than 978,000 high-speed Internet customers. Windstream delivers one-stop shopping to customers with a range of communications products and services that include voice and related features, high-speed Internet, long distance, network access and video. The Company's operations consist of its wireline and product distribution segments. On November 21, 2008, Windstream completed the sale of its wireless business to AT&T Mobility II, LLC.

-- November 03, 2009 The Dow Chemical Company (NYSE: DOW) trading at $23.61 on a volume of 3.90M shares.

In a press release out on November 03, Merszei Named President of Dow Europe, Middle East and Africa, and Chairman of Dow Europe

Weideman Named Interim Chief Financial Officer

MIDLAND, Mich., Nov 03, 2009 In an effort to further strengthen its geographic presence and connection with key markets and customers, The Dow Chemical Company (NYSE: DOW) announced today that Geoffery E. Merszei, Executive Vice President and Chief Financial Officer, will move to a new role as President of Dow Europe, Middle East and Africa, while also serving as Chairman of Dow Europe, and Executive Vice President of The Dow Chemical Company, reporting to Andrew N. Liveris, Chairman and Chief Executive Officer. Merszei has served as the Company's Chief Financial Officer for the past five years. He will relocate to the Company's European Headquarters in Horgen, Switzerland.

Merszei will also assume additional responsibility as chair of the Company's newly established Geographic Leadership Council. The Council's function is to ensure Dow builds upon its robust global franchise by building strong relationships with partners and customers and continuing its track-record of making growth investments throughout world. Membership of this Council will be announced shortly.

About Dow

Dow is a diversified chemical company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in approximately 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. In 2008, Dow had annual sales of $57.4 billion and employed approximately 46,000 people worldwide. The Company has 150 manufacturing sites in 35 countries and produces approximately 3,300 products. On April 1, 2009, Dow acquired Rohm and Haas Company, a global specialty materials company with sales of $10 billion in 2008, 98 manufacturing sites in 30 countries and approximately 15,000 employees worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.

-- November 03, 2009 Pfizer Inc (NYSE: PFE) last at $16.79 a volume of 19.14M shares

In a press release out on November 03, Pfizer And Medivation Initiate Two Phase 3 Trials Of Dimebon In Patients With Moderate-To-Severe Alzheimer's Disease

International Studies to Evaluate Effects of Dimebon in Combination Therapy: One in Patients on Background Donepezil, One in Patients on Background Memantine

NEW YORK & SAN FRANCISCO, Nov 03, 2009 Pfizer Inc (NYSE: PFE) and Medivation, Inc. (NASDAQ: MDVN) today announced the initiation of CONTACT and CONSTELLATION, two Phase 3 trials of the investigational drug dimebon (latrepirdine)* in patients with moderate-to-severe Alzheimer's disease (AD).

The CONTACT study will assess as primary endpoints the potential benefits of adding dimebon to ongoing treatment with donepezil HCI tablets, the leading AD medication worldwide, on neuropsychiatric symptoms and activities of daily living. The CONSTELLATION study will evaluate as primary endpoints the effects of adding dimebon to memantine HCI, another standard of care, on cognition, memory and activities of daily living.

About Pfizer Inc.

Pfizer Inc. (Pfizer) is a research-based, global pharmaceutical company. The Company discovers, develops, manufactures and markets prescription medicines for humans and animals. It operates in two business segments: Pharmaceutical and Animal Health. Pfizer also operates several other businesses, including the manufacture of gelatin capsules, contract manufacturing and bulk pharmaceutical chemicals. In June 2008, Pfizer completed the acquisition of all remaining outstanding shares of common stock of Encysive Pharmaceuticals, Inc. through a merger of Pfizer's wholly owned subsidiary, Explorer Acquisition Corp., with and into Encysive. In June 2008, it also completed the acquisition of Serenex, Inc., a biotechnology company with a Heat Shock Protein 90 development portfolio. In July 2009, Pfizer bought back a 29.52% stake in its Indian arm, Pfizer Limited, increasing its stake to 70.75%.In October 2009, Pfizer Inc. acquired Wyeth.

-- November 03, 2009 SolarWinds(R) (NYSE: SWI) last at $17.37 on a volume of 203,700 shares

In a press release out on November 03, SolarWinds Releases Latest Version of Its Most Popular Free Tool -- TFTP Server

TFTP Server Provides Time-Saving File Transfer and Back-Up Features, a Useful Tool for Network Engineers Who Are Looking to Execute Outstanding Configuration Tasks Before the New Year

AUSTIN, TX, Nov 03, 2009 SolarWinds(R) (NYSE: SWI), a leading provider of powerful, simple and affordable network management software to more than 88,000 customers worldwide, announced today the latest update to its most popular free tool, SolarWinds TFTP Server. TFTP Server, which has been a part of the SolarWinds product line-up since 1998, is a well-trusted, reliable and secure solution for network engineers to back up configurations, change community strings, and run IOS updates as they prepare for the year ahead.

About SolarWinds

SolarWinds provides powerful, simple and affordable network management software to more than 88,000 customers worldwide -- from Fortune 500 enterprises to small businesses. Focused on the real-world needs of network professionals, SolarWinds products are downloadable, easy to use and maintain, and provide the power, scale, and flexibility needed to manage today's complex network environments. SolarWinds' growing online community, thwack, is a gathering-place for problem-solving, technology-sharing, and participating in product development for all of SolarWinds' products. Learn more today at http://www.solarwinds.com.

-- November 03, 2009 Health Net, Inc. (NYSE: HNT) trading at $15.85 on a volume of 756,316 shares

In a press release out on November 03, Health Net Reports Third Quarter 2009 Adjusted(1) Net Income of $69.6 Million, or $0.67 per Diluted Share

The Company Recorded $189.5 Million in Pretax Charges, Including $170.6 Million in Asset Impairments Related to the Pending Sale of Its Northeast Division

LOS ANGELES, Nov 03, 2009 Charges Cause GAAP Net Loss of $66.0 Million, or $0.64 Per Share Health Net, Inc. (NYSE: HNT) today announced a third quarter 2009 GAAP net loss of $66.0 million, or $0.64 per share. GAAP net income in the third quarter of 2008 was $18.5 million, or $0.17 per diluted share.

The third quarter 2009 GAAP results include the effect of two pretax charges: 1. $170.6 million in noncash charges for the impairment of goodwill and other assets related to the pending sale of the company's Northeast division; and 2. $19.5 million related to the company's operations strategy that is designed to reduce general and administrative (G&A) expenses.

Both of these charges were offset by a favorable $0.6 million litigation reserve true-up. A reconciliation of non-GAAP financial measures on the income statement is included with this press release. Excluding the impact of the charges, net income in the third quarter of 2009 was $69.6 million, or $0.67 per diluted share. Net income in the third quarter of 2008 was $37.8 million, or $0.35 per diluted share, excluding the impact of a $17.1 million pretax charge related to the company's operations strategy and a $14.6 million pretax charge for impairment of the company's investments.

About Health Net

Health Net, Inc. is among the nation's largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company's health plans and government contracts subsidiaries provide health benefits to approximately 6.6 million individuals across the country through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs. Health Net's behavioral health subsidiary, MHN, provides mental health benefits to approximately 6.5 million individuals in all 50 states. The company's subsidiaries also offer managed health care products related to prescription drugs, and offer managed health care product coordination for multi-region employers and administrative services for medical groups and self-funded benefits programs.

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ViiV Healthcare has signed a research alliance agreement with GlaxoSmithKline (GSK) and Pfizer under which it will invest in R&D into HIV medicines being conducted by both companies. GSK and Pfizer have also agreed to grant ViiV Healthcare a right of first negotiation in relation to any new HIV-related medicine developed by either GSK or Pfizer.

Dominique Limet, CEO of ViiV Healthcare, said: "Our ambition is to conduct R&D both inside and outside ViiV Healthcare. Our R&D efforts, strategic partnerships and licensing opportunities will be focused on delivering medications that help address resistance issues and dosing complexity. Within our own pipeline we have some very exciting molecules, including our late stage integrase inhibitor development program.

"ViiV Healthcare's R&D will not solely focus on creating 'new' medicines. We will explore the potential of all our molecules for broader utility, for example to create new formulations and combinations that can help improve adherence or overcome resistance to the virus. We are also actively seeking new collaborative opportunities to address the diverse needs of patients in the developing and developed world."

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