Biopharmaceutical Penny Stocks are always ripe for breakouts which can make them the best penny stocks to buy. One stock that must be watched on Monday when the market opens is Threshold Pharmaceuticals, Inc. (NASDAQ: THLD). The company got its spark Friday when THLD signed with Merck KGaA, Darmstadt, Germany, to co-develop and commercialize TH-302, Threshold’s small molecule hypoxia-targeted drug.
Data provided by Capital IQ
THLD traded as high as $3.01 in Friday’s trading session.
THLD closing price for Friday, February 3, 2012 was $2.99, up 131.78% (+1.70).
THLD traded volume of 13,128,473.
TH-302 is currently being investigated in a global Phase 3 clinical trial in patients with soft tissue sarcoma, a randomized Phase 2 trial in patients with advanced pancreatic cancer from which top-line results are expected in February, as well as additional clinical studies in other solid tumors and hematological malignancies.
Under the terms of the agreement, Merck will receive co-development rights, exclusive global commercialization rights and will provide Threshold an option to co-commercialize the therapeutic in the United States. In exchange,
- Threshold to receive $25 million upfront, plus further potential milestones and royalties
- Deal provides Threshold option to co-commercialize in the United States
- Phase 3 trial in soft tissue sarcoma on-going and randomized Phase II trial in patients with pancreatic cancer expected to report in February 2012
THLD is trading:
- $ 1.39 above its 200 day moving average,
- $ 1.49 above its 100 day moving average and
- $ 1.57 above its 50 day moving average.
THLD One Year Chart:
About Threshold Pharmaceuticals
Threshold is a biotechnology company focused on the discovery and development of drugs targeting tumor hypoxia, the low oxygen condition found in microenvironments of most solid tumors as well as the bone marrows of patients with some hematologic malignancies.
For additional information, please visit the company’s website: www.thresholdpharm.com.
THLD is a “Must Watch” Stock for Monday.
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