Biotech Values

[mcbio]

Threshold Pharmaceuticals (THLD) +6.3% premarket after earning a $30M milestone payment from drug partner Merck kgaa, which started a late-stage study of THLD's pancreatic cancer drug. TH-302 is an investigational hypoxia-targeted drug designed to be activated under severe tumor hypoxic conditions, a hallmark of many

A $30M milestone payment is quite impressive for just the start of a Phase 3 trial. Does anyone recall a milestone payment that large for just the start of a Phase 3 trial? (Of course, the size of the milestone payment in no way speaks to chances for ultimate success of the trial.)