Committee Recommends Threshold Pharmaceuticals Continue Late-Stage Cancer Trial
Biotech company Threshold Pharmaceuticals Inc. said Thursday an independent monitoring committee recommended that its late-stage trial of a cancer treatment can continue to completion.
The Independent Data Monitoring Committee could have recommended stopping the trial early if the data revealed major safety concerns regarding the Phase III trial of glufosfamide as a second-line treatment for people with metastatic pancreatic cancer.
"We anticipate announcing top-line results at the end of the fourth quarter this year," said the company's chief medical officer, Alan Colowick. "We are hopeful that, if successful in this trial, glufosfamide will give patients another treatment option against this deadly cancer."
Shares jumped 47 cents, or 11.6 percent, to $4.51 in after-hours trading, having earlier closed down 6 cents at $4.04 on the Nasdaq. The stock has traded in a 52-week range of $3 to $16.98.
Biotech company Threshold Pharmaceuticals Inc. said Thursday an independent monitoring committee recommended that its late-stage trial of a cancer treatment can continue to completion.
The Independent Data Monitoring Committee could have recommended stopping the trial early if the data revealed major safety concerns regarding the Phase III trial of glufosfamide as a second-line treatment for people with metastatic pancreatic cancer.
"We anticipate announcing top-line results at the end of the fourth quarter this year," said the company's chief medical officer, Alan Colowick. "We are hopeful that, if successful in this trial, glufosfamide will give patients another treatment option against this deadly cancer."
Shares jumped 47 cents, or 11.6 percent, to $4.51 in after-hours trading, having earlier closed down 6 cents at $4.04 on the Nasdaq. The stock has traded in a 52-week range of $3 to $16.98.
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