I'd like to think that, but the volume just isn't large enough - the spike above $2.10 was on 20,000 - 25,000 shares traded. Maybe a somebody wanted to get in and didn't want to mess around with several days of 1,000 share trades, but anything "seriously positive" would draw more volume than that and would have kept the price above $2. My sense is that THLD has a serious cancer play in TH-302, but the clinical evidence (from Phase II trials) really won't be there for at least a year, so unless they bring in a partner for some big money (or just sell the company), I can't imagine any serious movement until next year?
Threshold is presenting 5 posters at AACR this April which may result in some exposure and new interest in the company? While I agree that the announcement of pending trial results will be needed to catalyze the next major price moves, I feel that the TH-302 clinical data presented so far has been very encouraging. In my opinion, the market has not yet fully appreciated existing TH-302 results nor reflected anywhere near an appropriate valuation of THLD! The potential here is way off the radar... continue to accumulate at these undervalued prices.
The xenograph SCLC study was impressive - the hypoxic region of the tumor was only 8% of the total tumor, but they saw a "bystander" effect with 38% of the tumor area showing necrosis after 48 hours of treatment with TH-302. Note the clinical trials with TH-302 include patients with non-small cell lung cancer, so this is pre-clinical "proof of concept" in another tumor type.