TLON receives positive ODAC vote. AVII files shelf. CYTR reverse split vote date set + MNOV news

Mar 22, 2012 No Comments by

Talon Therapeutics, Inc., (OTCBB:TLON), announced the Oncologic Drugs Advisory Committee voted 7 yes, 4 no, and 2 abstain for a  favorable benefit/risk assessment for use of Marqibo for the treatment of adult Philadelphia chromosome-negative (Ph-) acute lymphoblastic leukemia (ALL) in second or greater relapse or that has progressed following two or more lines of anti-leukemia therapy. The PDUFA date for Marqibo is May 13, 2012.

AVI BioPharma, Inc. (NASDAQ: AVII) filed a mixed shelf allowing it, from time to time in one or more offerings, offer and sell up to $100m in the aggregate of common stock, preferred stock, debt securities, warrants to purchase common stock, preferred stock or debt securities.

CytRx Corporation (NASDAQ:CYTR) said in a SEC filing that it intends to seek shareholder approval on May 14, 2012, to effect a reverse stock split in the range of between 1-for-3 and 1-for-12. The company earlier mentioned that it received notification on February 15, 2012 that because it had not regained compliance with the $1.00 minimum bid price requirement for continued listing, it would be subject to delisting from The NASDAQ Capital Market on or before February 22, 2012, unless it requested a hearing before a NASDAQ Hearings Panel. The company subsequently scheduled a meeting before the Panel.

According to NASDAQhearings are typically scheduled 30 to 45 days from the company’s request. The Panel generally issues a written decision approximately 35 days after the hearing, but the company could receive a written decision sooner. 

Using the timeline supplied by NASDAQ above, a decision is likely to be rendered by NASDAQ between late-April and mid-May 2012.

MediciNova, Inc. (Nasdaq:MNOV) announced it has completed enrollment in its Phase 2 trial of MN-221 for treatment of acute exacerbations of asthma. Preliminary results are due 2Q 2012.

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Currently residing in New Zealand, Mr. A.Burden holds a Master of Commerce in International Business from the University of Sydney and used these skills together with his passion for investing to establish BioPharmCatalyst in June 2010 as a tool for investing decisions in the US pharmaceutical market. He spends much of his free time mountain biking, playing squash and hiking.
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