Threshold Pharmaceuticals, Inc (THLD) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $3.68 million, or $ 0.05 a share in the quarter, against a net profit of $69.71 million, or $0.86 a share in the last year period. The company has not recorded any revenues for the current quarter. However, it has reported a revenue of $65.87 million for the previous year period.
Operating loss for the quarter was $4.96 million, compared with an operating income of $52.26 million in the previous year period.
Barry Selick, Ph.D., Chief Executive Officer of Threshold, said, “On behalf of the Company and the entire board of directors, I’d like to thank Threshold shareholders for their support while we conducted our extensive and thorough review of strategic alternatives, after very challenging clinical outcomes for evofosfamide and tarloxotinib.” Dr. Selick further stated, “We believe Molecular Templates’ lead product candidate, MT-3724, and our lead product candidate, evofosfamide, in addition to Molecular Templates’ innovative technology platform will result in a combined company that has significant value for its stakeholders.”
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