January 25, 2013 at 12:50 PM EST
Threshold Pharmaceuticals Rises on Hope for Cancer Drug
Shares of Threshold Pharmaceuticals (NASDAQ:THLD) are rising after the company’s development partner Merck KGaA (PINK:MKGAY) of Germany said it is advancing a drug for pancreatic cancer into a large late-stage human study. Merck sends Threshold a $30 million milestone payment as part of an agreement announced in February of last year. The drug TH-302 is being tested with an older chemotherapy gemcitabine to treat advanced pancreatic cancer a disease that leaves patients little hope for surviving. The partnership with Merck is potentially worth $525 million to Threshold if the product is ever approved and meets sales goals. Threshold has ...
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