Spectrum acquires Targent cancer assets

Spectrum Pharmaceuticals is buying Targent's cancer drug assets in a deal that could potentially be worth more than $6.5 million. Spectrum will pay Target 600,000 shares for the cancer assets, which primarily involves levofolinic acid, and up to 650,000 shares more for certain regulatory and sales milestones. An NDA has been filed for levofolinic acid as a therapy for bone cancer. The drug has been assigned orphan status as a combination therapy with existing chemotherapies for bone cancer and colorectal cancer.

- here's the AP report for more