Threshold Pharmaceuticals Earns $20 Million Milestone Payment
Threshold Pharmaceuticals, Inc. (NASDAQ: THLD) today announced it has earned a $20 million milestone payment from Merck KGaA, Darmstadt, Germany, for achieving a statistically significant progression free survival benefit in its 214-patient randomized controlled Phase 2 clinical trial evaluating the efficacy and safety of two doses of TH-302, a hypoxia-targeted drug, in combination with gemcitabine compared to gemcitabine alone in patients with first-line advanced pancreatic cancer. The observed safety profile was consistent with previous studies of TH-302. These results were recently presented at the American Association of Cancer Research 2012 Annual Meeting in Chicago.
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