Tuesday, May 8, 2012

Talon shares slide after FDA delays cancer drug decision

Talon Therapeutics Inc. stock fell more than 31 percent Monday as the Food and Drug Administration said it would delay a decision on the San Mateo company’s experimental cancer drug. Talon (OTCBB: TLON) said Monday that the FDA extended the decision date for Marqibo, Talon’s treatment for acute lymphoblastic leukemia, to Aug. 12. The agency requested information unrelated to Marqibo clinical trials, the company said, but needs more time to review Talon’s responses. The FDA had been expected to make a decision Friday regarding Marqibo.

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