Jul. 17, 2013, 8:08 AMSpectrum Pharmaceuticals (SPPI) acquires Talon Therapeutics (TLON.OB), giving SPPI worldwide rights to the leukemia treatment Marqibo. Under the terms of the deal, SPPI will pay Talon's shareholders $11.3M in cash upfront and will issue 3M common shares in order to cancel outstanding debts under Talon's credit facility. Talon shareholders will also get CVRs potentially worth $195M depending upon sales of Marqibo and regulatory milestones for a Phase II product. SPPI (upgraded Tuesday by JMP) is +1.24% premarket. (PR) | Comment!
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.
TLON vs. ETF Alternatives
Other News & PR