Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

joined you in thld ...says they have $90 mil cash and stocks <g>

Threshold Pharmaceuticals Reports First Quarter 2006 Financial Results
REDWOOD CITY, Calif., May 10 /PRNewswire-FirstCall/ -- Threshold Pharmaceuticals, Inc. (Nasdaq: THLD), today reported financial results for the first quarter ended March 31, 2006.

The net loss for the first quarter of 2006 was $13.8 million compared to $7.5 million for the first quarter of 2005. Research and development expenses were $11.4 million for the first quarter of 2006 versus $5.3 million for the first quarter of 2005. The increase in research and development expenses primarily reflects increased costs of advancing the Company's product pipeline, including Phase 2 and Phase 3 multi-center clinical trials of TH-070 for the treatment of benign prostatic hyperplasia (BPH), an ongoing Phase 3 trial of glufosfamide for the second-line treatment of patients with pancreatic cancer and a Phase 2 trial of glufosfamide in combination with gemcitabine for the first-line treatment of pancreatic cancer. General and administrative expenses were $3.8 million for the first quarter of 2006 versus $2.6 million for the same quarter last year. The increase in general and administrative expenses primarily reflects increased costs associated with being a public company and stock compensation expense recognized under FAS 123(R). Total non-cash stock compensation expense for the Company was $3.0 million for the first quarter of 2006 versus $1.6 million for the first quarter of 2005. Approximately $1.3 million of the increase in non-cash stock compensation is a direct result of adopting FAS 123(R) on January 1, 2006 which requires public companies to expense employee stock awards based on a fair value. The Company recognized revenue of $0.4 million in the first quarter of 2006.

As of March 31, 2006, Threshold had $87.4 million in cash and marketable securities.

'We continued to achieve our clinical milestones with the completion of enrollment in both the Phase 2 and Phase 3 trials of TH-070 in BPH, and we expect to report the results of these trials around the beginning of the fourth quarter,' said Barry Selick, Threshold's chief executive officer. 'We are also on track to report results from the Phase 3 glufosfamide trial in second-line pancreatic cancer patients by the end of this year as well.'