H.C. Wainwright Maintains Buy On Threshold Pharmaceuticals Following TH-302 Phase 1/2 Data

In a research report released Monday, H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Threshold Pharmaceuticals (NASDAQ:THLD) with a price target of $12, as the company presented data from Part C of its Phase 1/2 study of TH-302 in relapsed/refractory multiple myeloma (MM).

Fein observed, “Not only were these bortezomib combo data early (at this meeting we had expected only further data from the first two parts of the study), but the preliminary clinical response observed was in our view an important and material step for TH-302. To date, the TBorD part of the study has recruited 18 patients, and recorded 2 clinical responses (1 VRPR and 1 PR) and 4 SDs out of 7 evaluable patients.”

“Importantly, the VGPR, PR and 2 SDs were recorded among the 4 evaluable patients receiving the higher dose of 340mg/m2. All four of these patients continue treatment on study. There were no discontinuations due to an AE, and the safety profile appeared typical for a population with advanced MM and high hematologic/bone marrow disease burden (thrombocytopenia, anemia, fatigue). The company expects to enroll the full cohort by year-end (up to 24 patients).”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Fein has a total average return of 13.2% and a 53.5% success rate. Fein has a -11.2% average return when recommending THLD, and is ranked #480 out of 3398 analysts.

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