Last Friday, Talon Therapeutics, Inc.(OTC:TLON) broke through the recent resistance marks and closed at the session’s high of $0.59. Apparently, that was the market’s reaction to a PR announcing the upcoming release of the financial results.

TLON_chart.pngThe promised 10-K was released yesterday and TLON gained 13.56% more, closing at $0.67 on 602 thousand shares. Here are some numbers from the report:

  • $4,573,254 in cash
  • total current assets of $22,894,900
  • total current liabilities of $6,053,769
  • total liabilities of $35,242,631

As stated in the report, the company hasn’t generated any revenue for 2010, recorded a net loss of $26 million and “…expects such losses to continue over the next several years”.

While the numbers above and the perspective of recurring losses could scare a lot of investors off, there are those who find them satisfying as the trading activity suggests. Traders should also note that the company is engaged in a field with good potential for funding and growth.

TLON_logo.jpgAccording to Steven R. Deitcher, M.D., President and CEO of TLON, the company will continue to focus on submitting a New Drug Application for accelerated approval of Marqibo®, TLON’s principal asset.

As most other biopharmaceutical companies at this early stage, Talon is exposed to a lot of risks. At the same time, the potential profits in case the company successfully completes its plans could be substantial.