Talon Therapeutics Adds Its Name to the Hit Parade (TLON)

It certainly appears that biomedical is the theme for the week in over-the-counter stocks. Today, the stock of Talon Therapeutics (OTC:TLON) popped on to the radar screen after posting a 10% gain for the session on 1.4 million shares.  Earlier in the week, InVivo Therapeutics (OTC: NVIV) and Oncosec Medical (OTC: ONCS) surged on volume well above their daily averages.

Talon Therapeutics began the day with an opening print $0.03 above Wednesday’s afternoon closing price. But before the first half-hour of trading could be completed, the stock touched $0.97 and the low for the day. Over half of the day’s volume traded in the first two hours and thirty minutes of trading. Shares jumped during this time period to an intraday high trade of $1.18. The rest of the trading period saw the stock slowly drift downward and end the day $0.10 to the positive side at $1.10.

After retreating 50% from its annual high point at $1.28 set in the middle of March, 2012, Talon Therapeutics stock has marched back toward the pinnacle with most of the gains coming over the last two weeks.  No news releases have accompanied the recent up move.  The 12-month low of $0.40 was established just before the calendar flipped to 2012.

The San Mateo, California biopharmaceutical company is engaged in developing and commercializing cancer treatments. One product in development is a treatment for blood cancers such as lymphoma and lymphoblastic leukemia. Another therapy involves a lotion to prevent or treat skin toxicity associated with epidermal growth factor receptor inhibitors.

On May 15, 2012, the company reported earnings for the quarter ending March 31, 2012.  Talon Therapeutics showed a net loss of $36.1 million or $1.66 per share. This compared with a $11.3 million, or $0.53 per share, loss realized in the first quarter of 2011.  Forward earnings estimates are not available since no research analysts cover the stock.

Over the last 52 weeks, insiders have frequently sold their company stock. Sixty sell transactions have been recorded for a total of 953,000. Around a quarter of the shares being sold have occurred within the last quarter.

Besides the earnings release on May 15, 2012, other recent headlines found on Stockpromoters.com for Talon Therapeutics include:

  • June 1, 2012: Talon Therapeutics enrolls the first adult patients in stage three confirmatory study of blood cancer treatment using Marqibo. The patients have Philadelphia Leukemia.
  • May 7, 2012: The company received notification of a three-month PDUFA extension for Marqibo.

Talon Therapeutics faces direct competition from three privately-held companies. The list includes Curagen Corporation, Genzyme Corporation, and Micromet.

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Published by Alan Masterson

Alan has over 25 years of trading experience in the U.S. equity markets. He began his career in finance working on a program trading desk specializing in over-the-counter stocks. His career progressed from that point to his current position as senior trader on an institutional trading desk. In the evenings, Alan teaches economics at a local community college. He has contributed articles to various publications over the last six years, including feature articles for an economics magazine and various financial blogs. You may contact Alan via his email (alanmasterson@wallstreetpr.com) or his Google+ page (https://plus.google.com/103338576216002376250).