They met, chatted, and have come back with resolutions. This is the story with Threshold Pharmaceuticals, Inc. (NASDAQ: THLD), the biotech company that has seen its share price dip having hit a 52-week high of 1.48 not so long ago. Recently the company announced that at a stockholders meeting, the resolution to accept all proposals relating to the merger with Molecular Templates, Inc. have been approved.

Mergers are always good, of course; especially when they involve a biotech player like THLD. This is why stockholders also approved an equity financing drive that will see an additional $40M added to the company coffers. The cash will come in handy, no doubt.

On Tuesday the stock responded to the news with sharp movement north. After opening at 0.50, a pittance compared to the 52-week high of 1.48, THLD rallied to a high of 0.55 before pulling back to 0.47. In the end the stock reached a high of 0.55 on 1.42M volume closing up 8% to finish the day at 0.54. That was pretty good going considering the fact the stock had reached a low of 0.47.

The big lift on Tuesday might be the lift investors are looking for since THLD as a stock is trading well YTD – currently t 22%. Not bad at all and other factors are creeping in too; all this makes THLD look good and attractive to short term investors who will of course see the DMA 20 trending north at 13% as a good thing. The DMA 50 also telegraphs something positive. That figure is up 19% so investors who are looking for some upside potential and opportunities for scraping something off the top in the medium term will be happy.

Could This Cheap NASDAQ Stock Be Ready To Move Higher?

This cheap stock has recently posted some interesting developments and could be ready to break out! Get all the details now before The Street takes notice...