bit of misunderstanding here...indeed, no oficial update has been provided re their 3rd phase flagship. However, 7 months have lapsed since IPO. 3rd phase (1st stage) is expected to close approx. in October (7 months to go) with the results announced early 2012. This might be speeded up a bit.
There has been a few partnerships / deals announced in the recent time with significant cash paid upfront by big pharma names. With a market cap ~150mil., potentially targeting market over ~1bn of sales per annum it doesnt seem too hyper.
This month Trius is presenting at pharma conference with an update expected..The Citi conference has just started :)