Threshold Pharmaceuticals, Inc. (NASDAQ: THLD) has been one of the top performing stocks of 2012. Not just in emerging pharma and in biotech, but across the board. Now we have some more good news of an orphan drug designation being granted out of Europe.
The European Commission has granted an Orphan Drug Designation for the company’s TH-302, a hypoxia-targeted drug for the treatment of soft tissue sarcoma. Soft tissue sarcoma is an aggressive form of cancer for which there is a significant unmet medical need.
The company noted that TH-302 was designed “to selectively target hypoxic regions within tumors, which are believed to not be effectively treated with current therapy.”
Keep in mind that Threshold shares were well under $2.00 at the start of 2012. Shares closed on Thursday at $6.73. This stock has traded in a range of $1.18 to $7.50 over the last year and its market capitalization rate is $330 million.
JON C. OGG