Shares of Threshold Pharmaceuticals Inc. (THLD) touched a new 4-year high of $6.65 on Tuesday, following positive mid-stage results of lead drug candidate TH-302 in a pancreatic cancer study.
According to the trial results, there was a 63% improvement in progression free survival in patients with first-line advanced pancreatic cancer who were treated with Threshold's investigational agent TH-302 in combination with Gemcitabine, compared to Gemcitabine alone.
The median progression-free survival was 5.6 months for patients treated with Gemcitabine in combination with TH-302 compared to 3.6 months for patients treated with Gemcitabine alone.
Pancreatic cancer is the fourth most common cause of cancer death both in the United States and internationally. The American Cancer Society estimates that 44,030 people were diagnosed with pancreatic cancer in the United States in 2011, and about 37,660 people died from the disease.
Earlier this month, Threshold Pharma signed a global agreement, potentially valued at $550 million, with Merck KGaA, Darmstadt, Germany, to co-develop and commercialize TH-302. The positive phase II results of TH-302 in the pancreatic cancer study trigger a $20 million milestone payment to be made by Merck KGaA to Threshold Pharma under the global agreement.
Just four months ago, on October 19, 2011, when we alerted readers to this stock, it was trading at $1.66 a share. The stock closed yesterday's trading at $5.01, and that's a 202% gain in just four months for anyone who bought the stock last October.
The Threshold Journey has been exciting so far. Let's wait and see how this plays out in the coming months.
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