J.F. writes: "I read your Biotech Mailbag religiously. I am looking for your technical analysis on the future of Threshold's glufosfamide regarding the various cancer programs." First off, J.F., thanks for reading. Unfortunately, I don't see much value in Threshold Therapeutics ( THLD), or its cancer drug glufosfamide. J.F.'s email came in a couple of days after the company announced the failure of a phase III study of glufosfamide in second-line pancreatic cancer patients. The company has some positive phase II data with a glufosfamide/gemcitabine combination in newly diagnosed pancreatic cancer, but the study is small, uncontrolled and there was even a hint of safety problem with some potential renal toxicity. Threshold also recently started a couple of other phase II studies of the drug in small-cell lung cancer and ovarian cancer. But would I be optimistic about any of this? Probably not.
G.G. isn't happy with me. "Why don't you come clean and name the shorts that you write for? Think your mother is proud of you? Surely, if you looked hard enough, you could find something positive to say about some company!"