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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 C+HyyQaDNKLke6uLfM8wuawqcI/1eE/t0NCYcvQvNfLIp7lR4zDCJCgLP0f9tccb
 pwDqh6ZsbxGpOsLYre2EgA==

<SEC-DOCUMENT>0001005477-06-004919.txt : 20061003
<SEC-HEADER>0001005477-06-004919.hdr.sgml : 20061003
<ACCEPTANCE-DATETIME>20061003153056
ACCESSION NUMBER:		0001005477-06-004919
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060929
FILED AS OF DATE:		20061003
DATE AS OF CHANGE:		20061003

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			THRESHOLD PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0001183765
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				943409596
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1300 SEAPORT BOULEVARD
		CITY:			REDWOOD CITY
		STATE:			CA
		ZIP:			94063
		BUSINESS PHONE:		650 474 8200

	MAIL ADDRESS:	
		STREET 1:		1300 SEAPORT BOULEVARD
		CITY:			REDWOOD CITY
		STATE:			CA
		ZIP:			94063

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ENRIGHT PATRICK G
		CENTRAL INDEX KEY:			0001253886

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32979
		FILM NUMBER:		061124258

	MAIL ADDRESS:	
		STREET 1:		863A MITTEN RD
		CITY:			BURLINGAME
		STATE:			CA
		ZIP:			94010

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PEQUOT CAPITAL MANAGEMENT INC
		CENTRAL INDEX KEY:			0001071955
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32979
		FILM NUMBER:		061124259

	BUSINESS ADDRESS:	
		STREET 1:		500 NYALA FARM ROAD
		CITY:			WESTPORT
		STATE:			CT
		ZIP:			06880
		BUSINESS PHONE:		2034292200

	MAIL ADDRESS:	
		STREET 1:		500 NYALA FARM ROAD
		CITY:			WESTPORT
		STATE:			CT
		ZIP:			06880

	FORMER NAME:	
		FORMER CONFORMED NAME:	PEQUOT CAPITAL MANAGEMENT INC/CT/
		DATE OF NAME CHANGE:	19981118
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>AMENDMENT TO FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2006-09-29</periodOfReport>

    <dateOfOriginalSubmission>2006-09-29</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001183765</issuerCik>
        <issuerName>THRESHOLD PHARMACEUTICALS INC</issuerName>
        <issuerTradingSymbol>THLD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001071955</rptOwnerCik>
            <rptOwnerName>PEQUOT CAPITAL MANAGEMENT INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>500 NYALA FARM ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WESTPORT</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06880</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>See Footnote 1</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001253886</rptOwnerCik>
            <rptOwnerName>ENRIGHT PATRICK G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>500 NYALA FARM ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WESTPORT</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06880</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right-to-buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.57</value>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-09-29</value>
                <footnoteId id="F5"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-05-19</value>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Investment Advisor</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right-to-buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.57</value>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-09-29</value>
                <footnoteId id="F5"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F4"/>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-05-24</value>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F4"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Investment Advisor</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Pequot Capital Management, Inc. (&quot;Pequot&quot;) is an investment advisor registered under Section 203 of the Investment Advisers Act of 1940 and has voting and investment power with respect to securities in its clients' accounts. Pequot disclaims any obligation to file this report, and this report shall not be deemed an admission that Pequot is subject to Section 16 with respect to the Issuer of such securities.  Patrick G. Enright is an employee of Pequot and serves on the Board of Directors of the Issuer and disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.</footnote>
        <footnote id="F2">Pequot disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Pequot is, for the purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of such securities.</footnote>
        <footnote id="F3">As described in a previous filing, the Issuer cancelled, pursuant to the Issuer's Option Exchange Program (the &quot;Program&quot;), an Option granted to the Reporting Person on May 19, 2005.  In exchange, the Reporting Person received a replacement option on September 29, 2006 to purchase 15,000 shares of the Issuer's common stock, with an exercise price of $2.57, and vesting in equal monthly installments until the Issuer's next annual stockholder meeting (the &quot;Replacement Option&quot;), whereby the Replacement Option will become fully vested. The Replacement Option expires on May 19, 2015.</footnote>
        <footnote id="F4">As described in a previous filing, the Issuer cancelled, pursuant to the Issuer's Option Exchange Program (the &quot;Program&quot;), an Option granted to the Reporting Person on May 25, 2006.  In exchange, the Reporting Person received a replacement option on September 29, 2006 to purchase 15,000 shares of the Issuer's common stock, with an exercise price of $2.57, and vesting in equal monthly installments until the Issuer's next annual stockholder meeting (the &quot;Replacement Option&quot;), whereby the Replacement Option will become fully vested. The Replacement Option expires on May 24, 2016.</footnote>
        <footnote id="F5">This amendment to Form 4 amends the Form 4 filed on September 29, 2006 (rather than September 27, 2006 as previously reported) to reflect the accurate grant date of September 29, 2006 and to reflect the accurate exercise price of $2.57 (rather than $2.50 as previously reported).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Aryeh Davis, GC &amp; COO, Pequot Capital Management, Inc.</signatureName>
        <signatureDate>2006-10-03</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Patrick G. Enright, Director (1)</signatureName>
        <signatureDate>2006-10-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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