Shares of Talon Therapeutics Inc. (OTC: TLON), a biopharmaceutical company focusing on the development and commercialization of new and differentiated cancer therapies, are gaining in trading today.
At last check, TLON shares were trading 6.35% higher at $1.34 on volume of 267,608. The stock touched an intra-day high of $1.41 in trading today.
According to an 8K filing made by Talon Therapeutics on Thursday, the company this week amended its Investment agreement with Warburg Pincus Private Equity X L.P. and Warburg Pincus X Partners L.P. and Deerfield Private Design Fund L.P., Deerfield Private Design International L.P., Deerfield Special Situations Fund L.P., and Deerfield Special Situations Fund International Limited.
As per altered agreement, the Minimum Series A-3 Additional Investment has been reduced from 50,000 shares of Series A-3 Preferred to 30,000 shares of Series A-3 Preferred.
Pursuant to the investment agreement, TLON on July 3, 2012 also issued and sold a total of 30,000 shares of Series A-3 Preferred at a price per share of $100. The proceeds from the sale totaled $3 million.