Stifel Downgrades Threshold Pharmaceuticals (THLD) to Hold

Stifel downgraded Threshold Pharmaceuticals (NASDAQ: THLD) from Buy to Hold after the company announced negative topline data from both of its Phase III trials for TH-302 in pancreatic cancer and sarcoma.

Analyst Thomas Shrader commented, "Despite very positive phase II data, the pancreatic cancer again narrowly missed the OS endpoint (HR=0.84). The sarcoma trial showed no treatment effect. Based on the overwhelming preclinical data that TH-302 was reaching and penetrating tumors with an active chemotherapy we believe these results cast significant doubt on the fundamental focus of Threshold’s pipeline. The company currently has about $56.4 million in cash and this forms the basis of our valuation."

For an analyst ratings summary and ratings history on Threshold Pharmaceuticals click here. For more ratings news on Threshold Pharmaceuticals click here.

Shares of Threshold Pharmaceuticals closed at $3.34 yesterday.

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