Talon Therapeutics Takes A Chill Pill On an Active Day (TLON)

Shares of Talon Therapeutics (OTC: TLON) exchanged hands today faster than the opening day at the World Series of Poker. Despite trading over 1.3 million shares, more than twice the average daily volume, the stock ended the day exactly where it did yesterday at $1.71. The high for the day was just a penny higher than the closing price while the low print happened in early trading when the stock traded for $1.55. As they say, a lot of motion for going nowhere.

After a two-month-long run that saw the stock more than double from $0.75 and touch a new annual high a few days ago at $1.75, who could blame traders for staying in place ahead of the weekend? Since the beginning of the year when the stock hit its 52-week low at $0.40, Talon Therapeutics shares have moved over 300% in a positive direction.

Just before the close of trading for the week, CEO Steven Dietcher said the company’s experimental blood-cancer treatment based on a compound from the periwinkle flower is attracting some potential partners and buyers. The news may have given the stock a boost in the afternoon trading. The company expects to hear from the US Food and Drug Administration on August 12 concerning the approval of Marqibo for the treatment of blood cancers. An approval would give Talon Therapeutics its first commercial product. What will traders do in the meantime?

On Wednesday, The Stock Wizard promoted the stock on Stockpromoters.com. The Stock Wizard put the stock on its watch list. The promoter was not compensated. A total of five promotions can be viewed on Stockpromoters.com. The Stock Wizard also had some comments a few weeks ago that can be read on Stockreads.com.

Talon Therapeutics had Twitter buzzing today, with Adam Feurerstein and Wall St. Cheat Sheet commenting on the Marqibo developments.

Talon Therapeutics is a bipharmaceutical company focused on developing and commercializing cancer therapies. The company is developing a drug by the name of Marqibo for treating acute lymphoblastic leukemia and other blood cancers. Talon is also developing a lotion for the prevention and treatment of skin toxicity.

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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).