Healthcare Business Review: Threshold Fails Phase 2b, Gilead Shares Perform
Shares of Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) took a steep dive Monday on the news that its recent Phase 2b clinical trial of the investigational hypoxia-targeted drug TH-302, in combination with Gemcitabine, increased the survival of pancreatic patients by the statistically insignificant amount of 4.5 percent.
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The genomics company BGI-Shenzhen will acquire Complete Genomics, Inc. (NASDAQ:GNOM) for $3.15 per share through a tender offer. This price would represent a 54 percent bonus over Friday’s close.
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) were one of the best performers in the S&P 500 Monday, following the JPMorgan analyst Geoff Meacham making positive comments regarding the firm’s new HIV drug Stribild and hepatitis C drug program; the price target was accordingly increased from $70 to $75.
Pfizer Inc. (NYSE:PFE) reports that Phase 3 studies of its tofacitinib monotherapy program for rheumatoid arthritis indicate that it is superior to methotrexate in inhibiting structural damage and decreasing signs and symptoms in methotrexate-naïve patients. Upon approval, tofacitinib would represent the first treatment in a new class of medicines known as JAK inhibitors, and the first new oral disease-modifying anti-rheumatic drug in more than a decade.
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