UPDATE: Maxim Group Initiates Threshold Pharmaceuticals at Buy on Doxorubicin Potential

Maxim Group initiated coverage on Threshold Pharmaceuticals THLD with a Buy rating and a price target of $10 per share. Maxim Group commented, "THLD's lead drug, TH-302, is currently in a phase III trial as a first-line treatment with doxorubicin for advanced soft tissue sarcoma (STS) and at the end of a phase IIb trial as a first-line therapy with gemcitabine for pancreatic cancer. Both cancers are difficult-to-treat malignancies with limited chemotherapies on the market. Based on earlier trial results, we believe there is a good chance for THLD to deliver significant improvement of overall survival (OS) in expanded patient populations." Threshold Pharmaceuticals closed at $7.78 on Wednesday.