Oxford, MS 5/20/2011 (PennyPayDay) -- Talon Therapeutics, Inc. (OTC:TLON), recently reported, in a press release, financial results for the first quarter ended March 31, 2011."Our primary focus for the first three months of 2011 was the preparation of our NDA filing for Marqibo(R)," stated Steven R. Deitcher, M.D., President, Chief Executive Officer and Director of Talon Therapeutics. "I am pleased to report that significant progress has been made and the NDA is in an advanced stage of preparation."
For the three months ended March 31, 2011, the Company reported a net loss of $10.4 million and deemed dividends on preferred stock of $1.0 million, which when combined, resulted in a net loss applicable to common stockholders of $11.4 million, or $0.53 per share.
As of March 31, 2011, the Company had cash, cash equivalents and available-for-sale securities of $16.2 million. Cash used in operations was $6.3 million for the three months ended March 31, 2011.
The per share results for all periods have been adjusted to reflect the impact of the Company's 1-for-4 reverse stock split that occurred at the close of business on September 10, 2010.
Talon Therapeutics is a biopharmaceutical company dedicated to seizing upon medical opportunities, efficiently and expertly leading product candidates through clinical development, and transferring value to patients, patient care providers, shareholders, corporate partners, and employees.
In addition to Marqibo and Menadione Topical Lotion, the Company has additional pipeline opportunities some of which, like Marqibo, improve delivery and enhance the therapeutic benefits of well characterized, proven chemotherapies and enable high potency dosing without increased toxicity.
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