Please read the Announcement carefully-there must be positive things going on.
->> Phase III soft tissue sarcoma trial ongoing - Merck and Threshold Announce Global Agreement to Co-Develop and Commercialize Phase III Hypoxia-Targeted Drug TH-302 - Deal provides Threshold with an upfront payment of € 19 million - TH-302 is currently being investigated in a global Phase III clinical trial in patients with soft tissue sarcoma - In the United States, Threshold will have primary responsibility for development of TH-302 in the soft tissue sarcoma indication.
->> Randomized Phase II pancreatic cancer trial expected to report in February 2012 - Merck and Threshold Announce Global Agreement to Co-Develop and Commercialize Phase III Hypoxia-Targeted Drug TH-302 - Deal provides Threshold with an upfront payment of € 19 million - a randomized Phase II trial in patients with advanced pancreatic cancer from which top-line results are expected in February - Threshold and Merck will jointly develop TH-302 in all other cancer indications being pursued. - Merck will pay 70% of worldwide development costs for TH-302.
-“The addition of TH-302 to our pipeline provides an important opportunity in several different tumor types to expand our oncology development program,” said Susan Jane Herbert, Head of Global Business Development and Strategy at the Merck Serono division.
- “We are excited by the new resources that our partnership is going to bring to the development of TH-302, and the expertise in clinical development and commercialization that Merck will contribute to this program,” said Barry Selick, President and CEO of Threshold.
Threshold will develop TH-302 in the U.S. for soft-tissue sarcoma. The two companies will jointly develop the therapy for all other indications, and Merck will pay 70 percent of worldwide development costs, the companies said.
Speciafically Merck said 'upfront payment of € 19 million'; that means they already had seen the results or they know some psoitive results are coming from phase 2 trials. No one invests just like that in millions of dollars for trial and error. As per my knowledge, any firm does lots of reasearch before even investing a penney into any security.
And Merck specifically mentioned about Phase 2 results. - Threshold is also eligible to receive a € 15 million ($ 20 million) milestone payment based on positive results from its randomized Phase II trial in pancreatic cancer. - If they are not sure about whats going on and they would not even mention this in their statement!!!!