Biotechnology M&A » By The Online Investor Staff, updated Thu., Apr. 18, 9:27 PM
Recent mergers and acquisitions in the Biotechnology M&A category.
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Slide #59. Spectrum Pharmaceuticals — Talon Therapeutics, Inc.
Acquirer:
Spectrum Pharmaceuticals (SPPI)
Acquiree:
Talon Therapeutics, Inc. (TLON)
Details:
Talon Therapeutics, Inc. (OTCQB:TLON) today announced that a subsidiary of Spectrum Pharmaceuticals, Inc. (Nasdaq:SPPI) entered into an agreement to purchase approximately 89% of the outstanding shares of Talon (the "Company") directly from the Company's principal stockholders. Spectrum also entered into an agreement with the Company under which the subsidiary of Spectrum will purchase additional shares from the Company that, together with the shares acquired from the Company's principal stockholders, will represent in excess of 90% of the outstanding shares of Talon, and under which Spectrum will acquire the remaining outstanding shares of Company common stock through a "short-form" merger of the subsidiary of Spectrum into the Company. The Company and Spectrum expect that the share purchase and the merger will be completed within one business day.
Spectrum Pharmaceuticals is a commercial-stage biopharmaceutical company. Co. is engaged in acquiring, developing, and commercializing targeted oncology therapies. Co. has one commercial asset, ROLVEDON™, which is a long-acting granulocyte colony-stimulating factor for the treatment of chemotherapy-induced neutropenia; as well as one drug candidate in late-stage development, Poziotinib, which is an irreversible tyrosine kinase inhibitor under investigation for non-small cell lung cancer tumors with various mutations.
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Avg. Broker Rec.
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: SPPI Stock Forecast Based on Zacks ABR data; powered by Xignite |
