On Friday, Shares of Threshold Pharmaceuticals, Inc. (NASDAQ:THLD), lost - 2.42% to $0.5074.
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Threshold Pharmaceuticals Inc. (THLD) declined 82% yesterday after initially rallying to a high of 77. Volume was heavy with more than 33 million shares changing hands. Average volume by contrast is 1.28 million shares. The low of 51 cents yesterday was a historic drop for the company which hasn’t traded at that level since 2008. Investors reacted poorly to news that after two late-stage trials of the company’s Evofosfamide, it failed to meet primary endpoints of improving overall survival with statistical significance. Presently THLD is trading with a RSI of 11 on the daily chart and is priced below its 50 DMA of 3.89. We will continue to monitor THLD and will alert our newsletter subscribers when a gain opportunity presents itself.
Threshold Pharmaceuticals, Inc., a biotechnology company, discovers and develops therapeutic agents that target tumor cells for the treatment of patients living with cancer in the United States. Its lead investigational small molecule is evofosfamide, which is in two Phase III clinical trials for the treatment of soft tissue sarcoma indication and pancreatic cancer; Phase II clinical trials for treating non-squamous non-small cell lung cancer; Phase II clinical trials for advanced melanoma and soft tissue sarcoma; Phase I/II clinical trials for multiple myeloma and pancreatic cancer; and Phase I clinical trials for the treatment of solid tumors, pancreatic cancer, and advanced solid tumors.
Shares of Bristol-Myers Squibb Co (NYSE:BMY), declined -1.91% to $67.62, during its last trading session.
Bristol-Myers Squibb Company, declared that they have entered into a partnership agreement with UCLA as part of Bristol-Myers Squibb’s Immuno-Oncology Rare Population Malignancy (I-O RPM) research program in the U.S. The I-O RPM research program is a multi-institutional initiative with academic-based cancer centers focused on the clinical investigation of immuno-oncology therapeutics as potential treatment options for patients with high risk, poor prognostic cancers, defined as a rare population malignancy.
Bristol-Myers Squibb and the David Geffen School of Medicine at UCLA will conduct a range of early phase clinical studies as part of the I-O RPM research program, and Bristol-Myers Squibb will fund positions within UCLA’s fellowship program in the UCLA Division of Hematology/Oncology.
“The I-O RPM research program is an important complement to Bristol-Myers Squibb’s broad research and development program for immuno-oncology,” said Laura Bessen, M.D., head of U.S. Medical, Bristol-Myers Squibb. “We look forward to working with UCLA in an effort to continue advancing the science in this innovative field of research and cancer treatment.”
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
Finally, Cliffs Natural Resources Inc (NYSE:CLF), ended its last trade with - 4.13% loss, and closed at $2.09.
Champion Iron Limited, declare that Québec Iron Ore Inc., a wholly-owned partner of the Company, has reached an Asset Purchase Agreement (the “Asset Purchase Agreement”) to acquire, subject to Court approval, the Bloom Lake Mine and related rail assets (collectively, “Bloom Lake”) and the Quinto Mining Corporation mineral claims (the “Quinto Claims”) in Québec (the “Acquisition”) from associates of Cliffs Natural Resources Inc. (CLF) that are presently subject to restructuring proceedings under the Companies’ Creditors Arrangement Act (Canada) (“CCAA)” (collectively, the “Bloom Lake CCAA Parties”).
Champion, through its wholly owned partner Québec Iron Ore Inc., bid for Bloom Lake under the amended sale and investor solicitation procedures (the “SISP”) approved by the Québec Superior Court on April 17, 2015 and June 9, 2015 as part of the CCAA restructuring proceedings of the Bloom Lake CCAA Parties commenced in January 2015. The SISP was conducted by Moelis & Company (“Moelis”), as sale advisor to the Bloom Lake CCAA Parties, under the supervision of FTI Consulting Canada Inc. acting as court-designated monitor of the Bloom Lake CCAA Parties under the CCAA proceedings (the “Monitor”).
Champion’s bid was chosen as the preferred bid by the Bloom Lake CCAA Parties, in consultation with Moelis and the Monitor, and was formalized with the signing of the Asset Purchase Agreement.
Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore and metallurgical coal. It operates five iron ore mines that produces iron ore pellets in Michigan and Minnesota; Koolyanobbing complex situated in northeast of the town of Southern Cross, which produces lump and fines iron ore; and two metallurgical coal mines located in Alabama and West Virginia.
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