Cowen Downgrades Threshold Pharmaceuticals (THLD) to Market Perform
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Cowen downgraded Threshold Pharmaceuticals (NASDAQ: THLD) from Outperform to Market Perform.
Analyst Eric Schmidt commented, "Threshold and partner Merck KGaA announced that neither of evofosfamide's pivotal trials in pancreatic cancer or sarcoma met its primary OS endpoint. The results are disappointing, and likely to reduce optimism for THLD's only other clinical asset, a second hypoxia activated prodrug in Phase II development (tarloxotinib targeting EGFR). We are downgrading shares from Outperform to Market Perform."
Shares of Threshold Pharmaceuticals closed at $3.34 yesterday.
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