Threshold Pharma +64% on merger deal

• Threshold Pharmaceuticals (THLD) and privately held Molecular Templates agree to merge in an all-stock deal.
• Alongside, venture capital player Longitude Capital will invest $20M at the close of the merger, assuming other equity commitments of $20M.
• Molecular Templates’ lead product candidate, MT-3724, is an ETB that targets the CD20 cell surface antigen present in a variety of lymphomas and leukemias. A Phase 1 trial with the drug demonstrated good safety and efficacy in elderly, heavily pre-treated patients.
• A conference call is set for 8:30 ET.
• THLD +64% premarket