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    Small-Cap Stock Spotlight: Tengion Inc. (TNGN)

    Small-Cap Stock Spotlight: Tengion Inc. (TNGN)

    Tengion Inc.  (NASDAQ: TNGN) shares rallied 35.3% to $0.920 Monday, extending gains into a second day. Over 1.79 million shares traded, topping the 10-day average of 324.4 K. The stock is currently trading above its 50-day and 200-day moving averages of $0.47 and $0.78, respectively.  Market capitalization currently stands at 21.78 million and it has 23.67 million outstanding shares.

    Shares of the clinical-stage biotechnology company have gained 95.7% in the last five days and 93.7% in the last month.  Year-to-date, the stock is down 69.5%.

    Tengion has pioneered the Organ Regeneration Platform that enables the company to create proprietary product candidates that are intended to harness the intrinsic regenerative pathways of the body to produce a range of native-like organs and tissues.

    Its product candidates seek to eliminate the need to utilize other tissues of the body for a purpose to which they are poorly suited, procure donor organs or administer anti-rejection medications. An initial clinical trial is ongoing for the company’s lead product candidate, the Neo-Urinary Conduit, an autologous implant that is intended to catalyze regeneration of native-like bladder tissue for bladder cancer patients requiring a urinary diversion following bladder removal.

    Tengion’s lead preclinical candidate is the Neo-Kidney Augment, which is designed to delay or prevent the need for dialysis or transplantation in patients at risk for kidney failure. Tengion has also applied its technology in two Phase II clinical trials for Tengion’s Neo-Bladder Augment for the treatment of neurogenic bladder.

    The company maintains worldwide rights to its product candidates.

    Last week, the company announced it has relocated its East Norriton, Pennsylvania corporate headquarters to its current facility in Winston-Salem, North Carolina. The move is part of the company’s previously announced restructuring, which was designed to fund its lead development programs through key milestones in 2012 while reducing anticipated cash utilization.

    “This relocation allows us to focus our resources more efficiently on advancing our Neo-Urinary Conduit and Neo-Kidney Augment programs, said John L. Miclot , president and CEO of Tengion.  “The presence of a well-educated, high-quality workforce was also a factor in the decision to move our headquarters to Winston-Salem.”

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