Threshold Pharmaceuticals Shares Jump Amid H.C. Wainwright Initiation

In a note released early Friday morning, H.C. Wainwright analyst, Andrew Fein initiated coverage of Threshold Pharmaceuticals Inc.

with a Buy rating and a $12 price target. Fein's optimistic view for the stock is based on the company's "value driver", TH-302 being in two key phase-3 studies for treatment of soft tissue sarcoma and pancreatic cancer. Additionally, Threshold's co-development agreement with Merck KGaA has provided validity to TH-302 in the area of oncology and has enabled expansion into more clinical studies. As a short-term catalyst, Fein believes TH-302 will be given the "green light" to continue its soft tissues sarcoma study to completion in mid-September. The Study is expected to be completed in mid 2015. Amid Friday's initiation, shares of Threshold have shot up over four percent in the early hours of the day's market session.