Talon Therapeutics Trades at Historical High (TLON)

Talon Therapeutics (OTC: TLON) climbed higher in today’s trading session, rallying to a solid 6.3%,  It closed at $1.35 per share, which is the stock’s historical high closing price. At one point of the day, Talon traded to a share price of $1.48.

The prior highest closing price of the stock was set at $1.34 on April 29, 2011. Volume of the stock reached 2 million shares and market cap spiked to 29.6 million. Talon has steadily rallied to a respectable 228.47% since New Year’s Day.

There are two promotion results found on stockpromoters.com regarding Talon Therapeutics: Penny Trader Publisher and Too Nice Stocks, while neither of the newsletters are listed as being compensated by Talon. According to @pennystock24 on Twitter, Penny Stock Wizards promoted Talon today.

As active as this stock has been, the company hasn’t issued many press releases recently. Here are some of the few headlines found about Talon that were issued within the last two months:

  • June 1, 2012: Talon announced enrollment and dosing of the first patient in the Phase 3 confirmatory study of Marqibo in senior adults with newly diagnosed Philadelphia chromosome negative acute lymphoblastic leukemia, known as the HALLMARQ Study.
  • May 22, 2012: Talon announced the appointment of Thomas DeZao to head the commercial operations and planning function.
  • May 7, 2012: Talon announced that it has been informed by the U.S. Food and Drug Administration that its New Drug Application seeking accelerated approval of Marqibo has been given a three-month Prescription Drug User Fee Act date extension to August 12, 2012.

Talon Therapeutics was formerly known as Hana Biosciences. The company was incorporated in December 2002. Talon Therapeutics is a biopharmaceutical company engaged in developing and commercializing cancer therapies designed to enable current standards of care.

The company’s two lead product candidates target large markets. The company is developing Marqibo for the treatment of acute lymphoblastic leukemia and other blood cancers, including lymphoma. Menadione topical lotion is a first-in-class compound that the company is developing for the prevention and/or treatment of skin toxicity associated with epidermal growth factor receptor inhibitors.

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Published by Fiona Gibson

Fiona is a finance graduate and an expert in analyzing market trends.