Cantor Fitzgerald Reaffirms Buy On Threshold Pharmaceuticals Following Strong GBM Data
In a research note released today, Cantor Fitzgerald analyst Daniel Brims reaffirmed a Buy rating on Threshold Pharmaceuticals (NASDAQ:THLD) with a $14 price target, following the company’s release of glioblastoma data, which has continued to demonstrate TH302’s efficacy.
Brims wrote, “We believe these results compared favorably with historical PFS and OS of ~1 month and 3 months respectively, strengthening our confidence that TH-302 can fill an unmet need in GBM and has efficacy in solid tumors.”
The analyst continued, “Dr. Brenner has received a grant from the FDA’s Office of Orphan Product Development in order to conduct a phase 3 trial of TH-302 and bevacizumab in 33 bevacizumab failure patients. Dr. Brenner’s grant is only one of 15 awarded this year by the FDA, demonstrating the significant unmet medical need in this patient population and the compelling nature of the phase 1/2 data collected to date. Historically, phase 2 data has been sufficient to gain regulatory approval and, while it is still unclear what endpoints FDA would accept (overall response rate, overall survival, or quality of life) for review, we expect this study, which could initiate as early as YE:14, to support an NDA filing.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Daniel Brims has a total average return of 3.7% and a 40% success rate. Brims has a -36.6% average return when recommending THLD, and is ranked #1795 out of 3393 analysts.