EDISON EQUITY RESEARCH - THRESHOLD PHARMACEUTICALS
March 12 2015 - 7:02AM
InvestorsHub NewsWire
EDISON EQUITY RESEARCH:
THRESHOLD PHARMACEUTICALS - ON THE
THRESHOLD OF A BLOCKBUSTER OPPORTUNITY
Phase III data for evofosfamide (TH-302) in soft tissue sarcoma
(STS) and pancreatic cancer are expected by early 2016. These two
indications alone could lead to blockbuster sales with partner
Merck KGaA. Our estimates suggest the current market cap is more
than underpinned by the risk-adjusted potential in STS together
with net cash. We value Threshold at $949m based on evofosfamide in
STS and pancreatic cancer and in a number of further opportunities
in other solid tumours and blood cancers.
Threshold Pharmaceuticals is a US oncology company focused on
tumour hypoxia, a low-oxygen condition found in most solid tumours
and some blood cancers. Evofosfamide is in Phase III for STS and
pancreatic cancer and earlier trials in multiple other cancers, and
is partnered with Merck KGaA.
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