9. BUSINESS COMBINATIONS AND CONTINGENT CONSIDERATION (a) Acquisition of Talon Therapeutics, Inc. Overview of Talon Acquisition On July 17, 2013, we purchased all of the outstanding shares of common stock of Talon Therapeutics, Inc. ( Talon ). Through the acquisition of Talon, we gained worldwide rights to MARQIBO. The Talon purchase consideration comprised of (i) an aggregate upfront cash amount of $11.3 million, (ii) issuance of 3.0 million shares of our common stock, then equivalent to $26.3 million (based on a closing price of $8.77 per share on July 17, 2013), and (iii) the issuance of contingent value rights ( CVR ) initially valued at $6.5 million. The CVR was valued using a valuation model that probability-weights expected outcomes (ranging from 50% to 100%) and discounts those amounts to their present value, using a discount rate of 25% (these represent unobservable inputs and are therefore classified as Level 3 inputs   see Note 2 (xiii) ). The CVR has a maximum payout of $195.0 million if all sales and regulatory approval milestones are achieved, as summarized below: " $5.0 million upon the achievement of net sales of MARQIBO in excess of $30.0 million in any calendar year " $10.0 million upon the achievement of net sales of MARQIBO in excess of $60.0 million in any calendar year " $25.0 million upon the achievement of net sales of MARQIBO in excess of $100.0 million in any calendar year " $50.0 million upon the achievement of net sales of MARQIBO in excess of $200.0 million in any calendar year " $100.0 million upon the achievement of net sales of MARQIBO in excess of $400.0 million in any calendar year " $5.0 million upon receipt of marketing authorization from the FDA regarding Menadione Topical Lotion Talon CVR Fair Value as of September 30, 2014 and December 31, 2013 The CVR fair value will continue to be evaluated on a quarterly basis. Current and future changes in its fair value results from the likelihood and timing of milestone achievement and/or the corresponding discount rate applied thereon