Thresh­old blast­ed, re­struc­tures af­ter a PhII fail­ure; SQZ rais­es $16M

South San Fran­cis­co-based Thresh­old Phar­ma­ceu­ti­cals $THLD says that its mid-stage tri­als for its can­cer drug tar­lox­o­tinib proved to be a bust, and it’s now re­struc­tur­ing the com­pa­ny as a re­sult. The com­pa­ny  – which saw its shares plunge 43% this morn­ing – plans to shift fo­cus to an­oth­er ef­fort adding evo­fos­famide to im­mune check­point in­hi­bi­tion. “Stew­art M. Kroll, the Com­pa­ny’s Chief Op­er­at­ing Of­fi­cer, and the mem­bers of the bio­sta­tis­tics and da­ta man­age­ment group will be de­part­ing the com­pa­ny,” says the biotech.

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