Threshold Pharmaceuticals Inc (NASDAQ:THLD) down by 1.38%, Merrimack Pharmaceuticals Inc (NASDAQ:MACK)

Posted by Lynn Eisler May 16, 2013 0 Comment 1425 views


Threshold Pharmaceuticals, Inc (NASDAQ:THLD): Wednesday’s trading session saw Threshold Pharmaceuticals, Inc (NASDAQ:THLD) climbing down by 1.38%. It opened at a price of $5.81 which touched an intraday high of $5.83, before moving down to close at $5.71 per share. More than 0.711 million shares exchanged hands in the previous trading session, which stood below the average volume of 0.490 million that was measured over a 30-day period.

THLD is a biotech company that focuses on discovering and developing drugs that target the micro-environment of bone marrows and solid tumors. It is also used in the treatment of some hematologic malignancies in patients suffering from cancer. Threshold Pharmaceuticals, Inc (NASDAQ:THLD)’s hypoxia activated prodrug product candidates, such as the TH-302, are designed specifically to target the hypoxic microenvironment of tumors such as these. They achieve this by the selective activation of the prodrug which is designed to release appropriate amounts of the potent cytotoxin. The company is focused on developing product candidates that are used in the treatment of cancer patients.

Threshold Pharmaceuticals, Inc (NASDAQ:THLD) clinical development efforts are spotlighted on TH-302. On 2 February 2012, it entered into a co-development and license agreement with Merck KGaA for this specific treatment, for worldwide development as well as for commercialization.

Merrimack Pharmaceuticals Inc (NASDAQ:MACK): Wednesday’s trading session saw Merrimack Pharmaceuticals Inc (NASDAQ:MACK) climbing up by 3.80%. It opened at a price of $5.50 which touched an intraday high of $5.83, before moving down to close at $5.74 per share. More than 0.441 million shares exchanged hands in the previous trading session, which stood below the average volume of 0.422 million that was measured over a 30-day period.

The company just announced its Q1 2013 financial results. It incurred a net loss for of $28.3 million, or basic and diluted per share net-loss of $0.29, available to common stockholders. This, in comparison with the $23.4 million net loss in the 2012 Q1 or basic and diluted net loss of $2.14 per share available to common stockholders of. This loss was basically attributed to the increase in the weighted-average common shares that are used in computing per share net loss in Merrimack’s April 2012 IPO.


About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

View all post by Lynn Eisler Visit author's website

Write Your Comment