Trubion Pharmaceuticals, Inc. leads Wednesday's small-cap percentage losers

Chinese phone maker and distributor Qiao Xing Universal Telephone Inc. (Nasdaq: XING) said Wednesday that will need more time to file its 2006 annual report on account of “accounting matters.”

Franklin Bank Corp. (Nasdaq: FBTX) announced it will sell $23.3 million of its common stock at $15.70 per share to a group of investors as well as its officers, employees and directors.

Law firm Lerach Coughlin Stoia Geller Rudman & Robbins LLP filed a class action suit on behalf of an institutional investor against Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today.

These are the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $500 million:

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