Threshold Pharmaceuticals (THLD) announced Friday morning that it signed a global agreement with Merck KGaA to co-develop and commercialize TH-302. Threshold will receive an upfront payment of $25 million and could receive up to $35 million in additional development milestones during 2012. Total potential milestone payments are $525 million.
Threshold Pharmaceuticals gapped up sharply Friday and climbed during the first half hour of trade. Shares advanced further in the final 90 minutes of trade and closed higher by 1.70 at $2.99 on the highest volume of the year. The stock re-crossed both its 50 and 200-day moving averages and surged to over an 11-month high.
For comments and feedback: editorial@rttnews.com