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Threshold Pharmaceuticals (THLD)

Business description

Threshold is focused on tumour hypoxia, a low-oxygen condition found in most solid tumours and some blood cancers. Evofosfamide is in Ph III for STS and pancreatic cancer and earlier trials in other cancers. It is partnered with Merck KGaA.

Landscape change

QuickView | Pharmaceutical & healthcare | 12/11/2012

The twin outcome of competing Phase III studies – one positive and one negative – in pancreatic cancer gives Threshold and partner Merck KGaA more clarity on the landscape in this indication, as the pivotal Phase III trial with TH-302 gets underway. The combination of Friday’s positive result for Celgene’s Abraxane (nab-paclitaxel) and today’s negative outcome for Clavis/Clovis’s CP-4126/CO-101 allows Threshold and Merck KGaA to plan for a shift in the standard of care. Threshold still faces near-term uncertainty in soft tissue sarcoma but with a clearer competitive landscape in pancreatic cancer, its shares are now looking much more attractive.

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Stock data

Market cap.US$35.6m
Last closeUS$0.498
High / Low (52 weeks)US$1.3 / US$0.4
Stock market listingUS
Forecast net cash (US$m)31
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual26.6(1.2)(2.6)
Relative *24.2(4.6)(14.3)

* % Relative to local index

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