THRESHOLD PHARMACEUTICALS, INC. (NASDAQ:THLD) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01
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Completion of Acquisition or Disposition of Assets. |
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On June 16, 2017, Threshold Pharmaceuticals, Inc., (the Company) completed the sale of its rights to TH-3424 to OBI Pharma, Inc. a public company organized and existing under the laws of Taiwan (OBI), under the asset purchase and related license agreement (the Asset Transfer Agreement) as disclosed in Item 1.01 on Form 8-K filed on June 2, 2017, which is incorporated into this Item 2.01 by reference. On May 30, 2017, the Company received $0.5 million and on June 16, 2017 the Company received $2.5 million. |
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Other than in connection with the disposition of the Companys U.S. rights to TH-3424, neither we nor any of our officers, directors or affiliates have had any material relationship with OBI. |
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| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibit |
| Exhibits 10.1 |
Asset Purchase Agreement dated as of May 31, 2017, between Threshold Pharmaceuticals, Inc. and OBI Pharma, Inc. |
THRESHOLD PHARMACEUTICALS INC ExhibitEX-10.1 2 v469441_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 Execution Draft Asset Transfer Agreement By and between Threshold Pharmaceuticals,…To view the full exhibit click here About THRESHOLD PHARMACEUTICALS, INC. (NASDAQ:THLD)
Threshold Pharmaceuticals, Inc. is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of therapeutic and diagnostic agents that selectively target tumor cells for the treatment of patients living with cancer. It is developing two therapeutic product candidates based on hypoxia-activated prodrug technology: evofosfamide and tarloxotinib. Evofosfamide is designed as a prodrug that is activated under the extreme hypoxic conditions commonly found in tumors, but not in healthy tissues. Tarloxotinib is under investigation in two Phase II proof-of-concept trials: one for the treatment of patients with mutant EGFR-positive, T790M-negative advanced NSCLC progressing on an EGFR TKI, and the other for patients with recurrent or metastatic squamous cell carcinomas of the head and neck. [18F]-HX4 is an investigational Positron Emission Tomography imaging agent for hypoxia to identify and quantify the degree of hypoxia in tumors in vivo.