Too great expectations

Investors' unreasonably high expectations for TH-302 may have contributed to last week's 14% hosing of Threshold Pharmaceuticals Inc. (NASDAQ:THLD), despite the molecule's positive Phase II data in pancreatic cancer.

The stock fell $1.72 (20%) to $7 on Monday after TH-302 plus gemcitabine non-significantly improved the secondary endpoint of median overall survival (OS) vs. gemcitabine alone in the Phase IIb TH-CR-404 trial to treat advanced pancreatic cancer...