TLON..$1.34 Trading well today. This company is in a solid position for the next weeks as they head into their PDUFA on Aug 12th. Company has their financing out of the way which they did for a small amount. The filing dropped the stock from $1.40 to $1.20. Not a huge drop but this has allowed for some consolidation in this range. I liked the timing & amount of the raise. Well before PDUFA and a small amount of about 3M.
Warburg Pincus controls a majority of the company & have the biggest stake in their success. When people discuss Talon being broke and needing cash they really aren't "broke" when you think about the fact that Warburg has invested too much money in Talon & won't let their investment in them fail. On paper the company is in debt but it has been that way since they have been in development. Everytime Talon needs money they go to papa Warburg Pincus. As long as Talon keeps their pipeline developing then Warburg sees them as an attractive asset to an eventual suitor. Getting approval for Marqibo even in a small indication (with few pts) gets their foot in the door as the company has a Phase III front-line study in ALL with a SPA. They also have Menadione in phase II for use in EGFR related rash. I will discuss this more tonight as well as the coming weeks.
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