Threshold Pharma leaps as it names new COO

US clinical-stage cancer drug develop Threshold Pharmaceuticals (Nasdaq: THLD) saw its share leap 9.2% to $0.55, after the company announced the appointment of Stewart Kroll as chief operating officer.

Mr Kroll will serve as the company’s principal operating officer, will continue to report to chief executive Barry Selick, and will be responsible for the design and execution of Threshold’s clinical development programs.

“Not only does Stew have a tremendous amount of clinical development and operational experience, he is also one of the most driven and effective leaders with whom I have worked,” said Dr Selick, adding: “It’s an honor to appoint Stew to this position and I look forward to all of us at Threshold continuing to benefit from his expertise and example.”