Threshold Pharmaceuticals to Stop Developing Enlarged Prostate Drug After Clinical Trials Fail
REDWOOD CITY, Calif. -- Shares of Threshold Pharmaceuticals Inc. fell on Monday after the biotech company said it would stop development of an enlarged prostate treatment following the failure of two clinical trials.
Threshold's stock fell 1.60 or 50.31%, to $1.58 in trading on Nasdaq. Shares, which hit a 52-week high of $16.98 in April, dropped to just above $3 in May after the Food and Drug Administration found a possible safety risk in one of the trials.
The company said that its mid-stage clinical trial and late-stage clinical trial both failed to show that the drug candidate TH-070 significantly improved symptoms of benign prostatic hyperplasia compared with a placebo.
In May, the FDA halted the late-stage trial after the company reported that six patients taking TH-070 developed elevated liver enzymes, an indication of liver injury.
REDWOOD CITY, Calif. -- Shares of Threshold Pharmaceuticals Inc. fell on Monday after the biotech company said it would stop development of an enlarged prostate treatment following the failure of two clinical trials.
Threshold's stock fell 1.60 or 50.31%, to $1.58 in trading on Nasdaq. Shares, which hit a 52-week high of $16.98 in April, dropped to just above $3 in May after the Food and Drug Administration found a possible safety risk in one of the trials.
The company said that its mid-stage clinical trial and late-stage clinical trial both failed to show that the drug candidate TH-070 significantly improved symptoms of benign prostatic hyperplasia compared with a placebo.
In May, the FDA halted the late-stage trial after the company reported that six patients taking TH-070 developed elevated liver enzymes, an indication of liver injury.
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9:07 AM
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